GIFT Nifty up 100 points; here's the trading setup for today's session

Here's breaking down the actions:

STATE OF THE MARKETS
(Earlier SGX Nifty) signals a positive start
GIFT Nifty on the NSE IX traded higher by 105 points, or 0.46 per cent, at 22,686, signaling that Dalal Street was headed for positive start on Monday.

• Tech View: Technically, the Nifty closed below the level of 22,500 which has been acting as a minor support for the last couple of days. While this is a negative development it’s not something that opens a big downside, Tejas Shah of JM Financial & BlinkX said.
• India VIX: India VIX, which is a measure of the fear in the markets, rose 8.72% to settle at 14.62 levels.

gain
Wall Street experienced a significant uptick, buoyed by a milder-than-anticipated employment report. This strengthened the argument for potential rate cuts from the Federal Reserve, while simultaneously showcasing the resilience of the U.S. economy.

rangebound
Asian equity benchmarks are little changed in early trade as traders await the reopening of China from a long holiday break. Mainland markets look poised to gain as Beijing’s supportive policy stance adds impetus to a budding bullish momentum.

• S&P 500 futures were little changed as of 9:30 a.m. Tokyo time
• Hang Seng futures rose 0.6% s
• Australia’s S&P/ASX 200 rose 0.4%
• Euro Stoxx 50 futures rose 0.3%

Dollar steady
The dollar was broadly steady on Monday as a soft U.S. jobs report boosted wagers that the Federal Reserve may still cut rates twice this year, while the yen was a tad weaker to start the week.


Stocks in F&O ban today

1) Vodafone Idea

2) Biocon

3) ABFRL

4) Balrampur Chini Mills

5) GMR Infra

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 were net sellers at Rs 2,391 crore on Friday. Meanwhile, DIIs bought shares worth Rs 690 crore.

Rupee
The rupee inched up 1 paisa to settle at 83.45 against the US dollar on Friday, tracking a weak American currency and sliding crude oil prices in global markets

FII data
The net long of FIIs turned from Rs 25,615 crore on Thursday to net short of Rs 46,719 crore.

Q4 results
Godrej Consumer, Lupin, Indian Bank, Marico among others will announce their fourth quarter earnings on Monday.