Nifty today: Dalal Street poised for strong start as GIFT Nifty hints at robust gap-up opening

Indian equities continued to trade weak as crude prices remained firm. On the daily chart, analysts the Nifty has say sustained below the 50EMA for eight consecutive sessions, keeping the bearish trend intact. The RSI is in a bearish crossover, indicating weak momentum. However, a closer and more granular view of the Nifty chart suggests the possibility of a meaningful recovery from current levels.

STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a gap-up start
GIFT Nifty on the NSE IX traded higher by 199.50 points, or 0.83 per cent, at 24,309, signaling that Dalal Street was headed for a gap-up start on Wednesday.

• Tech View: On the volatility front, the index eased by nearly 1% over the week to close around 18, and any further cooling in volatility could lend support to bullish momentum. The broader structure remains positive as long as the Nifty holds above 23,800, though some near-term consolidation cannot be ruled out.
• India VIX: India VIX, which is a measure of the fear in the markets, fell 1.1% to settle at 17.91 levels.

US stocks end higher
The S&P 500 and Nasdaq notched record high closes on Tuesday, lifted by Intel and other AI-related stocks, as a U.S.-Iran ceasefire held firm and investors focused on strong quarterly earnings. Washington said on Tuesday its ceasefire with Iran ‌was intact, allaying worries ⁠that attempts ⁠by both sides to assert control over the Strait of Hormuz would escalate hostilities.Asian shares climb
Asian stocks climbed and oil dropped after President Donald Trump signaled progress toward a final agreement with Iran, giving record-high global equities fresh momentum.

• S&P 500 futures rose 0.2% as of 9:16 a.m. Tokyo time
• Australia’s S&P/ASX 200 rose 0.5%
• Euro Stoxx 50 futures rose 0.6%

Oil falls
Oil prices fell for a second day on Wednesday on expectations bottled up supply from the key Middle East producing region could resume flowing after U.S. President Donald Trump indicated a possible peace deal may be reached to end the war with Iran.
Gold jumps
Gold prices rose more than 1% on Wednesday, buoyed by a weaker dollar, while lower oil prices eased inflation fears on hopes of a peace deal between the U.S. and Iran.
Dollar eases
The dollar retreated against most major currencies on Wednesday after the U.S. signalled it may be nearing a deal with Iran, while the yen continued to drift weaker toward levels that have previously drawn intervention from Tokyo.
Stocks in F&O ban today

NIL

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 3,621 crore on Tuesday. DIIs, meanwhile, were net buyers at Rs 2,602 crore.

Rupee
The Indian rupee slid to a record low on Tuesday as a fragile truce in the Middle East came under strain after the US and Iran launched new attacks to wrestle for control of the Strait of Hormuz, a key artery for global energy supplies.

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