“The broader view remains intact with the bullish biases, but it seems really challenging to hold on to higher grounds with conviction,” said Osho Krishan, Sr Analyst – Technical & Derivative Research, Angel One.
Here’s breaking down the pre-market actions:
STATE OF THE MARKETS
- Tech View: The bullish chart pattern like higher tops and bottoms continued as per daily timeframe chart and Wednesday’s swing high of 22249 could now be considered as a new higher top of the sequence. Hence, short term weakness could be expected and the next lower supports to be watched at 21850-21750 levels, said Nagaraj Shetti of HDFC Securities.
- India VIX: India VIX, which is a measure of the fear in the markets, fell 0.9% to settle at 15.93 levels.
Stocks in F&O ban today
1) Hindustan Copper2) India Cements3) Indus Tower
4) Canara Bank
5) ZEE
6) RBL Bank
7) GNFC
8) Nalco
9) Biocon
10) SAIL
11) Bandhan Bank
12) Balrampur Chini Mills
13) GMR Infra
14) Piramal Enterprises
15) PVR Inox
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 bought shares worth Rs 284 crore on Wednesday. DIIs, meanwhile, were net sellers at Rs 411 crore.
Rupee
The rupee consolidated in a narrow range and appreciated 1 paisa to close at 82.96 against the US dollar on Wednesday, as the support from easing crude oil prices was negated by a weak trend in domestic equities.
FII data
The net short of FIIs reduced from Rs 54,814 crore on Tuesday to Rs 47,430 crore on Wednesday.
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