GIFT Nifty up 35 points; here's the trading setup for today's session

Indian equity markets ended higher on Tuesday, driven by strength in IT, pharma, and FMCG stocks. Technically, Nifty managed to stay above its 10- and 20-day EMAs near 24,730, keeping the short-term trend intact.

"However, unless the index sustains above 25,000, some consolidation or mild profit booking cannot be ruled out. Immediate support is placed near 24,620," said Amruta Shinde, Technical & Derivative Analyst at Choice Equity Broking.

STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a positive start
GIFT Nifty on the NSE IX traded higher by 35 points, or 0.14 per cent, at 24,985, signaling that Dalal Street was headed for a positive start on Wednesday.

• Tech View: RSI is in a bullish crossover and holding above 50. In the near term, Nifty may move towards 25,000 and beyond, while support on the lower end is placed at 24,750–24,700.
• India VIX: India VIX, which is a measure of the fear in the markets, fell 1.4% to settle at 10.68 levels.

US stocks end higher
Wall Street's three main indexes scored record high closes on Tuesday, while UnitedHealth rallied, and a downward payrolls revision supported expectations the Federal Reserve will soon cut interest rates to shore up economic growth.

• S&P 500 +0.27%,
• Nasdaq +0.37%,
• Dow +0.43%

Asian shares mixed
Key Asian stock gauges fluctuated Wednesday after the S&P 500 hit a record on hopes the Federal Reserve will cut interest rates to curb a jobs downturn.

• S&P 500 futures rose 0.1% as of 9:08 a.m. Tokyo time
• Japan’s Topix was little changed
• Australia’s S&P/ASX 200 was little changed
• Euro Stoxx 50 futures were little changed

Oil rises
Oil prices rose on Wednesday after Israel attacked Hamas leadership in Qatar and U.S. President Donald Trump asked Europe to impose tariffs on buyers of Russian oil, but a weak market outlook capped gains.

Stocks in F&O ban today

1) RBL Bank

Securities in the ban period under the F&O segment include companies in which the security has crossed 95% of the market-wide position limit.

FII/DII action
Foreign portfolio investors net bought shares worth Rs 2,050 crore on Tuesday. DIIs, meanwhile, were net buyers at Rs 83 crore.

Rupee
The rupee pared initial gains to settle 3 paise lower at 88.12 against the US dollar on Tuesday, tracking persistent foreign portfolio outflows and global trade tensions.

FII Data
The position of FIIs in the futures market reduced from a net short of Rs 1.91 lakh crore on Monday to Rs 1.89 lakh crore on Tuesday.