Indian markets have seen relief over the past three sessions, driven by Brent's retreat as progress on Saudi pipeline repairs and alternative export routes eased fears of a prolonged supply disruption. Analyst say, with the Fed hike now behind us, moderating Treasury yields, crude off its highs and strong domestic liquidity, the market is likely to maintain a cautiously positive bias.
STATE OF THE MARKETSTech View: In the coming days, if Brent crude remains below $96, we might see a sustained uptrend in the Indian market in the short term. For Nifty, support is placed at 23,000–23,100 on the lower end, while on the higher end, the current recovery might take the index towards 23,550.
38. Read more: Ahead of Market: 10 things that will decide stock market action on MondayStocks in F&O ban today1) SAIL2) Manappuram3) Inox Wind4) Bandhan BankSecurities in the ban period under the F&O segment include companies in which the security has crossed 95% of the market-wide position limit.
Read more: Dividends and stock splits: IRCTC, BEML among 150+ stocks with record dates this week. Check full listFII/DII actionForeign portfolio investors net sold shares worth Rs 600 crore on Friday.
DIIs, meanwhile, were net buyers at Rs 1,020 crore. 89 against the US dollar on Friday amid a strong American currency.
Disclosure: This article has been written by Podishetti Akash, who is not a SEBI-registered Research Analyst or an Investment Adviser. Podishetti Akash and her ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication.
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