Indian equity markets traded with a cautiously positive bias on Monday, with benchmark indices opening higher after the announcement of an interim framework for the India-US trade deal. Analysts say the market appears to be in a phase of gradual recovery and consolidation, with the near-term direction likely to be driven by global macro developments, currency movements and the sustainability of risk-on sentiment reflected in foreign fund flows.
STATE OF THE MARKETS
- Tech View: The RSI is in a bullish crossover and continues to trend higher. In the short term, the index may move towards higher levels, with initial resistance placed at 26,000–26,200. On the lower end, support is placed at 25,650.
- India VIX: India VIX, which is a measure of the fear in the markets, rose 2.9% to settle at 12.19 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.
Rupee
The rupee witnessed a volatile trading session and settled for the day on a slightly lower note, down 1 paisa at 90.66 against the US dollar on Monday, as traders assessed the details of the India-US interim trade framework.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)