GIFT Nifty up 150 points; here's the trading setup for today's session

The holiday-shortened week marks the beginning of a new month, making monthly auto sales data a key area of focus for market participants. On the macro front, investors will closely track the Index of Industrial Production (IIP) data and the HSBC Manufacturing PMI Final data. Meanwhile, geopolitical developments between India and Pakistan will remain on the radar.

STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a positive start
GIFT Nifty on the NSE IX traded higher by 151 points, or 0.63 per cent, at 24,239, signaling that Dalal Street was headed for positive start on Monday.

• Tech View: The breakout zone around 23900–23800 provided crucial support on Friday and continues to act as a key pivotal level. If geopolitical tensions escalate or this support is breached, a deeper correction towards the 23500–23300 zone could unfold. On the upside, while the broader trend remains bullish, immediate resistance is seen at 24250–24350.
• India VIX: India VIX, which is a measure of the fear in the markets, rose 5.6% to settle at 17.16 levels.

US stocks end higher
Wall Street advanced on Friday, notching weekly gains as investors parsed a spate of earnings and looked for signs of easing tensions in the U.S.-China trade dispute.

Asian shares up
Asian shares edged higher at the open in a cautious start to the week as investors await progress in US trade negotiations with the region and signs of further stimulus from China.

• S&P 500 futures fell 0.4% as of 9:09 a.m. Tokyo time
• Hang Seng futures rose 0.2%
• Japan’s Topix rose 1.2%
• Australia’s S&P/ASX 200 rose 0.6%
• Euro Stoxx 50 futures rose 0.8%

Gold falls
Gold prices eased on Monday as the thawing of trade tensions between the U.S. and China provided some relief to investors, while a stronger dollar further weighed on prices.

Dollar steady
The dollar made a steady start on Monday as investors prepared for a week packed with economic data that may give a first glimpse of whether U.S. President Donald Trump's trade war is hitting home.

Oil edges up
Oil prices inched up in early trade on Monday but remained dogged by uncertainty over trade talks between the U.S. and China clouding the outlook for global growth and fuel demand, while the prospect of OPEC+ raising its supply cast more gloom.

Stocks in F&O ban today

NIL

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 turned net buyers at Rs 2,952 crore on Friday. DIIs sold shares worth Rs 3,539 crore.

Rupee
The rupee pared its initial gains and settled for the day lower by 8 paise at 85.41 against the US dollar on Friday, amid heightened geopolitical tensions and a negative trend in the domestic markets.

FII data
The net short of FIIs reduced from Rs 24,480 crore on Thursday to Rs 35,226 crore on Friday.