Markets ended the last week on a positive note, with the Nifty gaining 0.7% on Friday and 1.3% for the week. Indian equities are likely to consolidate at higher levels next week, after a sharp 10% rally over the past ten trading sessions. The key monitorable remains the second round of diplomatic peace talks between the US and Iran, with the ceasefire deadline of 22 April fast approaching.
STATE OF THE MARKETS
- Tech View: The overall structure remains positive, favoring a buy-on-dips approach, with the support base now shifting higher to around 24,000. Momentum indicators and oscillators continue to reflect strength, as the RSI sustains above the 55 level.
- India VIX: India VIX, which is a measure of the fear in the markets, fell 5% to settle at 17.20 levels.
Stocks in F&O ban today
SAIL
Sammaan Capital
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 net bought shares worth Rs 683 crore on Thursday. DIIs, meanwhile, were net sellers at Rs 4,721 crore.Rupee
The Indian rupee rose on Friday following a Reuters report of a central bank step to curb state-run oil companies’ dollar demand, adding to measures that have narrowed the currency’s underperformance over the last fortnight.
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