Trade Setup: GIFT Nifty Signals Positive Start Amid Mixed Global Cues
Global markets present a mixed picture as US indices closed strong, with Dow Jones up 1.34%. Asian markets show mixed trends, with Nikkei rising 0.64%. Oil prices remain under pressure, while gold continues its upward trajectory. The US Dollar strengthens against major currencies. GIFT Nifty futures trading at 24,766.00 points, up 0.24%, suggests a positive start for domestic markets. However, caution is advised due to ongoing global market volatility and fluctuating commodity prices.
*this image is generated using AI for illustrative purposes only.
Introduction
Global markets present a mixed picture as traders prepare for the opening bell. While positive momentum from US markets provides support, caution prevails due to fluctuations in Asian indices and commodity prices.
GIFT Nifty Update
The GIFT Nifty futures trading at 24,766.00 points, up 0.24% from the previous close, suggests a positive start for the domestic markets.
US Markets
Wall Street closed on a strong note:
| Index | Change (%) | Closing Points |
|---|---|---|
| Dow Jones Industrial Average | +1.34 | 44,194.63 |
| Nasdaq Composite | +0.18 | 21,260.00 |
| S&P 500 futures | +0.13 | 6,364.25 |
Asian Markets
Asian markets show mixed trends:
| Index | Change (%) | Points |
|---|---|---|
| Japan's Nikkei 225 | +0.64 | 40,546.98 |
| Hong Kong's Hang Seng | +0.02 | 24,739.01 |
Commodity Trends
Oil prices remain under pressure:
| Commodity | Change (%) | Price (per barrel) |
|---|---|---|
| WTI Crude | -0.05 | $66.26 |
| Brent Crude | -0.05 | $66.26 |
Gold continues its upward trajectory, rising 0.19% to $3,433.00 per ounce.
Currency Updates
The US Dollar shows strength against major currencies:
| Currency Pair | Change (%) | Rate |
|---|---|---|
| USD/INR | +0.88 | 87.98 |
| EUR/USD | -0.13 | 1.16 |
FII/DII Activity
| Investor Type | Net Activity | Amount (₹ crore) |
|---|---|---|
| FIIs | Sellers | 2,566.51 |
| DIIs | Buyers | 4,386.29 |
Key Global Events
Traders should keep an eye on upcoming corporate results announcements and economic data releases that could impact market sentiment during the session.
Summary
While global cues are mixed, the positive GIFT Nifty indicates a likely upbeat start for Indian markets. However, investors should remain cautious given the ongoing volatility in global markets and commodity prices.
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