Pre-market action: Here's the trade setup for today's session

Indian benchmark indices traded in a choppy range on Friday but managed to close in positive territory and near the day's highs. Despite the positive close, Brent crude oil prices sustaining above the $85 per barrel level remained a key concern for investors, keeping the overall sentiment cautious. For Nifty, analysts say a move Friday’s high and 50 days EMA placed around 24,190 will open pullback towards 24,300-24,350 levels in the coming sessions. While a breach below weekly low of 24,076 will signal testing of the major support area of 24,000-23,800.

STATE OF THE MARKETS

Tech View: On the upside, the 24,200 level may continue to act as an immediate resistance. As long as the index remains below 24,200, the broader sentiment is likely to stay weak, with a possibility of a decline towards 23,900 in the near term.

India VIX: India VIX, which is a measure of the fear in the markets, fell 3.5% to settle at 10.68 levels.


Read more: Ahead of Market: 10 things that will decide stock market action on Monday

Stocks in F&O ban today

1) SAIL

2) LIC Housing Finance

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 5,039 crore on Friday. DIIs, meanwhile, were net buyers at Rs 5,184 crore.

Rupee

The rupee rose marginally by 2 paise to settle at 95.43 against the US dollar on Friday, tracking sliding global crude oil prices and a positive trend in domestic equities.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)