Nifty extended its rally for the seventh consecutive day, closing at an over 4-month high on the back of sustained FII buying and strong global market cues due to multiple positive developments in the US. Analysts expect the up-move to continue in the Indian market on the back of continued buying interest and supportive domestic cues, while tracking developments on the US tariff front.
STATE OF THE MARKETS
- Tech View: Immediate support lies around 24150–24100, while key support is placed in the 24000–23900 zone, aligning with the 200SMA and recent breakout levels. On the higher side, resistance is seen near 24550, which marks the 61.8% retracement of the decline from the all-time high
- India VIX: India VIX, which is a measure of the fear in the markets, rose 4.8% to settle at 15.96 levels.
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 turned net buyers at Rs 3,333 crore on Wednesday. DIIs sold shares worth Rs 1234 crore.Rupee
Rupee traded weak, down by 0.23 at 85.37, as the dollar index rose sharply above 99$ scaling intraday highs near 99.60$, which added notable pressure on the rupeeFII data
The net short of FIIs reduced from Rs 78,335 crore on Tuesday to Rs 70,771 crore on Wednesday.
