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Pre-market action: Here's the trade setup for today's session

Equity markets were subdued last week, with no significant changes in the headline indices as most of the action was seen in the primary market.

This week, investors will await the results of exit polls from five state elections. The market may also be in for increased volatility in the run up to monthly F&O expiry.

Here's breaking down the pre-market actions:

GIFT Nifty (Earlier SGX Nifty) signals a muted start
GIFT Nifty on the NSE IX traded higher by 6 points, or 0.03 per cent, at 19,862.5, signaling that Dalal Street was headed for muted start on Tuesday.

  • Tech View: The near-term uptrend status of Nifty remains intact. A sustainable up move above 19900 could pull Nifty towards all-time highs and a decisive move below 19600 is likely to open a near-term downward correction for the market, said Nagaraj Shetti of HDFC Securities.
  • India VIX: India VIX, which is a measure of the fear in the markets, rose 0.13% to settle at 11.33 levels.

  • US stocks dip
    U.S. stocks edged lower on Monday, with investors taking a post-Thanksgiving pause as the holiday shopping season kicked in to high gear and retailers lured bargain hunters with Cyber Monday deals.
    • Dow dips 0.16%,
    • S&P down 0.20%,
    • Nasdaq falls 0.07%

    Asian shares mixed
    Stocks in Asia were mixed Tuesday after Wall Street struggled in the wake of a rally that put the S&P 500 near “overbought” levels. Treasuries held their gains.
    • S&P 500 futures were little changed as of 9:38 a.m. Tokyo time. The S&P 500 fell 0.2%
    • Nasdaq 100 futures were little changed. The Nasdaq 100 fell 0.1%
    • Japan’s Topix fell 0.4%
    • Australia’s S&P/ASX 200 rose 0.7%
    • Euro Stoxx 50 futures fell 0.1%

    Dollar slips
    The U.S. dollar ticked down to a three-month low against peer currencies on Tuesday after slipping overnight on weaker-than-expected new home sales data, while traders hunkered down on bets that the Federal Reserve could start cutting interest rates in the first half of next year.

    Stocks in F&O ban today

    1) Balrampurchini Mills

    2) BHEL

    3) Indiabulls Housing Finance

    4) Granules

    5) Hindustan Copper

    6) HPCL

    7) ZEE

    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 buyers at Rs 2,625 crore on Friday. DIIs bought shares worth Rs 134 crore.

    The rupee ended at a record closing low at 83.36 on Friday, weighed down by weakness in its Asian peers and dollar demand from foreign banks.

    F&O data
    The net short position of FIIs reduced from Rs 1.32 lakh crore on Thursday to Rs 1.30 lakh crore on Friday.