Market Setup
Indian markets are expected to open on a cautious note today amid mixed global cues and continued volatility in the IT pack. Overnight weakness in global tech stocks and uncertain foreign fund flows may keep sentiment range-bound in early trade. However, resilience in banking and domestic cyclicals could provide partial support.
Key Triggers to Watch
FIIs have remained marginal sellers in recent sessions, while DIIs continue to lend stability through selective accumulation. Movement in US bond yields, crude oil prices and the rupee will remain crucial near-term drivers. Traders are also keeping a close watch on primary market activity and stock-specific developments.
Technical View
Nifty is hovering near an important support zone; sustaining above this level may lead to a pullback towards higher resistance. On the downside, a decisive break could trigger fresh short-term pressure. Bank Nifty continues to show relative strength but may see range-bound movement.
Sectoral Trends
Banking and financials remain relatively firm, while IT and metals may stay under pressure. Selective action is visible in midcaps and smallcaps, suggesting stock-specific opportunities despite index consolidation.
Outlook for the Day
Markets are likely to remain volatile with a mild negative bias in early trade. Traders may prefer a cautious and selective approach while closely tracking global cues and institutional flows.
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