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

The past week has seen significant profit booking in the market on weak global cues and substantial selling by foreign investors. The current week marks the September month's F&O expiry, which is expected to bring about volatility in the market.

"The factors that have influenced the markets last week may continue to exert some pressure in the current week too,” said Joseph Thomas, Head of Research, Emkay Wealth Management.

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 lower by 45 points, or 0.23 per cent, at 19,687.50, signaling that Dalal Street was headed for positive start on Monday.

• Tech View: The short term trend of Nifty continues to be weak. Having placed near the crucial lower supports, there is a possibility of minor upside bounce from near 19550 levels by next week. The anticipated upside bounce could be short lived and the market is expected to reverse down from the lower highs. Immediate resistance is around 19800-19850 levels.
• India VIX: India VIX, which is a measure of the fear in the markets, fell 1.46% to settle at 10.66 levels.

US stocks dip
Wall Street see-sawed to a lower close on Friday, capping a tumultuous week during which benchmark Treasury yields hit 16-year highs and investors digested the Federal Reserve's hawkish outlook revisions.

Asian shares mixed
Asian stocks traded in tight ranges Monday and oil rose, while Treasury yields inched higher as investors weighed the Federal Reserve’s higher-for-longer stance.

• S&P 500 futures rose 0.1% as of 9:24 a.m. Tokyo time. The S&P 500 fell 0.2% Friday
• Nasdaq 100 futures rose 0.1%. The Nasdaq 100 fell 0.1% Friday
• Hang Seng futures fell 0.3%
• Japan’s Topix fell 0.1%
• Australia’s S&P/ASX 200 fell 0.5%

Oil climbs
Oil prices rose on Monday as investors focused on a tighter supply outlook after Moscow issued a temporary ban on fuel exports while remaining wary of further rate hikes that could dampen demand.

US dollar gains
The yen approached the closely watched 150 per dollar level on Monday and kept traders on intervention watch after the Bank of Japan and Governor Kazuo Ueda quashed hopes of any imminent move away from its stark ultra-loose monetary policy.

Stocks in F&O ban today

1) Indiabulls Housing Finance

2) Canara Bank

3) Delta Corp

4) Granules

5) Hindustan Copper

6) Manappuram

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 1,326 crore on Friday. DIIs bought shares worth Rs 801 crore.

Rupee
The rupee appreciated 19 paise to 82.94 against the US dollar on Friday, as the inclusion of India in the JPMorgan bond index boosted investor sentiment.

F&O
The net long position of foreign portfolio investors decreased from Rs 22,565 crore on Thursday to Rs 12,092 crore on Friday.