GIFT Nifty up 45 points; here's the trading setup for today's session

Equity market witnessed some profit booking on Tuesday, especially in the mid and small-cap space a day after Nifty hit the historical 20k mark. In today's trade, markets will likely react to CPI inflation data, which showed some moderation in August.

"Overall, we expect the focus to shift from mid and small caps to large caps in the near term, as investors may turn cautious on the broader market," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services.

Here's breaking down the pre-market actions:

STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a positive start
GIFT Nifty on the NSE IX traded 43.5 points, or 0.22 per cent, at 20,073.50, signaling that Dalal Street was headed for positive start on Wednesday.

• Tech View: The short-term outlook is positive and this consolidation is likely to be used as a buying opportunity. In terms of levels, 19865 – 19810 is the crucial support zone while 20200 – 20250 shall act as an immediate hurdle zone.
• India VIX: India VIX, which is a measure of the fear in the markets, rose 0.32% to settle at 11.69 levels.

US stocks slip
Wall Street stocks ended lower on Tuesday as Oracle shares tumbled more than 13% after a weak forecast and surging oil prices deepened worries about persistent price pressures ahead of crucial inflation readings this week.

• S&P 500 dips 0.57%,
• Nasdaq down 1.04%,
• Dow falls 0.05%

Asian shares mixed
Asian equities were mixed before US inflation data for August that may give a better guide on the future path for Federal Reserve interest rates. Oil traded near a 10-month high amid strains in global supplies.

• S&P 500 futures were little changed as of 9:11 a.m. Tokyo time. The S&P 500 fell 0.6%
• Nasdaq 100 futures were little changed. The Nasdaq 100 fell 1.1%
• Japan’s Topix index rose 0.2%
• Australia’s S&P/ASX 200 Index fell 0.3%
• Hong Kong’s Hang Seng futures rose 0.3%

Oil prices up
Oil prices edged higher on Wednesday, hovering at a new 10-month high hit the previous day, as expectations of tighter global supply and fears of supply disruption in Libya outweighed concerns of slower demand in some countries such as China.



Stocks in F&O ban today

1) Indiabulls Housing Finance

2) IEX

3) BHEL

4) Hindustan Copper

5) India Cements

6) Delta Corp

7) Manappuram

8) SAIL

9) Chambal Fertilisers

10) Nalco

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 were net sellers at Rs 1,047 crore on Tuesday. DIIs bought shares worth Rs 259 crore.

Rupee
The rupee appreciated 9 paise to close at 82.94 against the US dollar on Tuesday amid fresh foreign fund inflows and expectations of better macroeconomic data.

F&O
The net long position of foreign portfolio investors increased from Rs 35,066 crore on Monday to Rs 46,143 crore on Tuesday.

Macro data
India's annual retail inflation eased to 6.83% in August from a 15-month high of 7.44% in July as food prices moderated.