Market tone (headline)
Markets are constructive this morning after a dovish Fed move overnight. Lower global yields and softer dollar are supporting risk appetite; domestic indices look set to open positive.
GIFT Nifty (pre-open)
Trading with a mild premium — around 25,510–25,520, implying a positive start for the cash session.
Nifty — Key technical levels
- Immediate support: 25,000 – 24,950
- Primary floor: 24,750
- Immediate resistance: 25,300 – 25,350
- Stretch resistance: 25,500 – 25,700
View: Expect an initial band near 25,000–25,350. Acceptance above 25,350 opens room to 25,500+; failure below 24,950 risks a pullback toward 24,750.
Institutional flows (most recent full day)
- FII (cash): net sell ≈ ₹1,125 crore — foreign selling on the day.
- DII (cash): net buy ≈ ₹2,294 crore — domestic buying cushioned the market.
Domestic institutions remain the primary bid while FIIs rotated into selling.
FII activity in Index Futures (recent picture)
- Headline read: FIIs moderated large short bets and overall trimmed/reshaped positions. Recent sessions show modest net long additions in futures while some short exposure was reduced — i.e., position reshaping rather than outright directional expansion.
- Implication: Markets are sensitive to short-covering moves; any quick futures delta change can produce sharp intraday reactions.
September options — OI map (nearby expiries)
- Call resistance: clustered around 25,300 – 25,500 CE
- Put support: clustered around 24,800 – 25,000 PE
Implication: Operational battleground is roughly 24,800 – 25,500. Put defenders should prop dips near 24.8–25.0; heavy call interest may cap rallies into 25.5k unless short covering accelerates.
News & market movers this morning
- Macro: Fed’s 25 bps cut overnight softened yields and helped risk assets; that’s the main positive driver this session.
- Domestic: Trade-talk optimism and tax/policy chatter supporting cyclicals; export-linked names remain watchful for any trade noise.
- Sectors to watch: Financials and IT for leadership; autos/commodities on flow and commodity price moves.
U.S. / global events to watch (today / tonight, IST)
- Monitor U.S. market reaction to the Fed cut and any Fed-speaker commentary — changes in yields, the dollar or Treasury flows will influence Asian equities into the close and the next session. Also watch any inflation prints or activity data released later for follow-through.
Trading playbook — actionable rules for today
- Base case: trade the range 25,000 – 25,350.
- Bull trigger: sustained trade above 25,350 with rising futures flow → target 25,500 / 25,700.
- Bear trigger: decisive break below 24,950 → target 24,750 / 24,500.
- Tactics: Buy shallow dips toward 25,000 with tight stops; trim into rallies at 25,300–25,350. Watch early futures OI/delta and option-chain shifts at 25.0k–25.5k for quick bias confirmation.