Gift Nifty down 30 points; here's the trading setup for today's session

Here's breaking down the pre-market actions:

STATE OF THE MARKETS

(Earlier SGX Nifty) signals negative start
on the Gift Nifty traded at 22,185, down 29 points or 0.13%, siganlling a negative start for Dalal Street.

• Tech View: Daily and hourly momentum indicators are providing divergent signals which can lead to a consolidation and hence in case of a dip towards 22100 – 22060 it should be used as a buying opportunity for a target of 22215 - 22250, said Jatin Gedia of Sharekhan.

• India VIX: India VIX, which is a measure of the fear in the markets, fell 0.92% to settle at 12.70 levels.

fall on Japan
Shares in Japan slipped as they traded ex-dividend. The move also came after the Nikkei 225 index Wednesday advanced to near its record high. Meanwhile, Australian stocks climbed to a fresh record, while futures for benchmarks in Hong Kong pointed to gains.

• S&P 500 futures were little changed as of 9:15 a.m. Tokyo time
• Hang Seng futures rose 0.5%
• Japan’s Topix fell 0.8%
• Australia’s S&P/ASX 200 rose 0.7%
• Euro Stoxx 50 futures rose 0.2%

close with gains
US stocks were higher on Wednesday, with the Dow leading gains and the S&P 500 setting a closing record, paced drugmaker Merck, while investors looked towards the next piece of inflation data and Federal Reserve commentary for signals on the rate path.

• Dow Jones Industrial Average rose 1.22%
• S&P 500 gained 0.86%
• Nasdaq Composite gained 0.51%

Dollar firm after Fed comments
The U.S. dollar received a boost against major currency peers on Thursday, as a Federal Reserve official said he wasn't in a hurry to cut rates amid sticky inflation, and as traders braced for key economic data.

Meanwhile, although still not far from the 152 mark, the yen was holding its ground against the greenback after Japan's top monetary officials on Wednesday suggested they were ready to intervene.

Oil prices advance
Global oil prices edged up on Thursday, recovering from two consecutive sessions of decline, as investors reassessed the latest U.S. crude oil and gasoline inventories data and returned to buying mode.

Brent crude futures for May were up 29 cents, or 0.34%, at $86.38 a barrel while the more actively traded June contract rose 28 cents, or 0.33%, to $85.69 at 0041 GMT. The May contract expires on Thursday.

US West Texas Intermediate (WTI) crude futures for May delivery were up 41 cents, or 0.50%, to $81.76 a barrel.

Stocks in F&O ban today
1) Hindustan Copper
2) ZEE

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 turn net buyers for second straight day at Rs 2,170 crore. DIIs too bought shares worth Rs 1,198 crore on Wednesday.

Rupee
The rupee declined to close at 83.33 against the US dollar on Wednesday, tracking a strong American currency against major rivals overseas and weak Asian peers.

FII data
The net short of FIIs increased from Rs 75,404 crore on Tuesday to Rs 90,796 crore on Wednesday.