GIFT Nifty down 80 points; here's the trading setup for today's session

Indian equities extended their gains for the third consecutive session on Monday, supported by a strong late recovery. Going ahead, analysts say a follow through strength above Monday's high 23,000 will open further upside towards 23,450 levels in the coming sessions. Failure to move above last week high will signal some consolidation in the range of 22,200-23,000 levels.

STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a negative start
GIFT Nifty on the NSE IX traded lower by 79 points, or 0.34 per cent, at 22,922, signaling that Dalal Street was headed for a negative start on Tuesday.

• Tech View: The overall structure is gradually turning positive, suggesting a continuation of the upward move towards 23,200, followed by 23,400 levels. Support has also shifted higher to the 22,500 zone.
• India VIX: India VIX, which is a measure of the fear in the markets, fell 0.2% to settle at 25.47 levels.

US stocks end higher
U.S. stocks advanced on Monday as investors looked for signs of progress toward a U.S.-Iran ceasefire deal and evaluated President Donald Trump's progressively heated threats of escalation should Iran fail to reopen the Strait of Hormuz.

• Dow up 0.36%,
• S&P 500 rises 0.45%,
• Nasdaq gains 0.54%

Asian shares open in green
Asian shares opened higher with the MSCI Asia Pacific Index climbing 0.7% on the back of gains in South Korea. Technology stocks — seen as less impacted by the war in the Middle East — led the advance, with Samsung Electronics Co. climbing 1.5% after profit surged eight-fold.

• S&P 500 futures fell 0.1% as of 9:35 a.m. Tokyo time
• Nikkei 225 futures (OSE) rose 0.7%
• Japan’s Topix rose 0.8%
• Australia’s S&P/ASX 200 rose 2.1%
• Euro Stoxx 50 futures rose 0.9%

Oil extend gains
Oil prices extended gains on Tuesday as U.S. President Donald Trump heightened his rhetoric against Iran, threatening stronger action if the country fails to reopen the Strait of Hormuz, a key global oil transit chokepoint.

Gold steady
Gold prices held steady on Tuesday, as investors remained cautious ahead of a deadline set by U.S. President Donald Trump on reopening the Strait of Hormuz, a key flashpoint in the Iran war.

Dollar rises
The dollar stood just shy of recent highs on Tuesday as traders counted down to a U.S.-imposed deadline for Iran to open the Persian Gulf to shipping or face attacks on its infrastructure.

Stocks in F&O ban today

Sammaan Capital

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 sold shares worth Rs 8,167 crore on Friday. DIIs, meanwhile, were net buyers at Rs 8,089 crore.

Rupee
The rupee gained 14 paise to close at 93.04 against the US dollar on Monday, following the Reserve Bank's initiatives designed to curb speculative fervour and dampen volatility in the rupee.

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