GIFT Handy down 10 points; here is the trading setup for today’s session

Nifty ended marginally higher on Thursday after four consecutive sessions of decline, although gains were capped by continued FII selling and a record low rupee. Analysts expect markets to remain in consolidation mode, although a possible rate cut by the RBI could act as a strong catalyst in the near term.STATE OF THE MARKETS
GIFT Nifty (earlier SGX Nifty) signals a muted start
GIFT Nifty on the NSE IX was trading 12 points (0.05 percent) lower at 26,177 points, indicating that Dalal Street was heading for a quiet start on Friday.

• Technical representation: In terms of key levels, the 26000-25950 subzone is expected to provide support against potential declines, while the critical support level, marked by a bullish candle, is around 25850. Conversely, intermediate resistance is identified around 26200, followed by a more formidable barrier at 26325.
• India VIX: India’s VIX, a measure of market fear, fell 3.5% to 10.82.

US stocks flat
U.S. stocks closed around unchanged levels on Thursday as investors weighed a labor market report and other economic data, while stocks were supported by heightened hopes for a Federal Reserve rate cut next week.

• Dow down 0.07%,
• S&P rose 0.11%,
• Nasdaq rises 0.22%

Asian shares fall
Asian shares fell in early trading after a lackluster session on Wall Street that weighed on technology stocks and bonds, with the focus shifting to the release of key US inflation data later on Friday.

• Futures on the S&P 500 were little changed at 9:37 a.m. Tokyo time
• Hang Seng futures fell 0.2%
• Japan’s Topix fell 1.1%
• Australia’s S&P/ASX 200 was little changed
• Euro Stoxx 50 futures were little changed

Dollar slips away
The US dollar fell short of a five-week low against its major peers on Friday as investors braced for a Federal Reserve interest rate cut next week. Markets are generally expecting a quarter-point drop when the policy-setting Federal Open Market Committee meets on December 9 and 10, and the focus will be on any signals about how much additional easing is in store.

Oil changed little
WTI oil prices headed for a weekly gain of almost 2% in early trading on Friday, supported by an expected rate cut by the Federal Reserve, escalating tensions between the US and Venezuela and stalled peace talks in Moscow.

Gold stable
Gold prices held steady on Friday as rising US Treasury yields offset support from a weaker dollar, while markets awaited US inflation data later in the day for clues about the Federal Reserve’s policy outlook ahead of next week’s meeting.

Shares in F&O ban today

Sammaan capital
Bandhan bankSecurities in the ban period under the F&O segment include companies in which the security has exceeded 95% of the market-wide position limit.

FII/DII action
Foreign portfolio investors sold net shares worth Rs 1,944 crore on Thursday. DIIs, meanwhile, were net buyers at Rs 3,661 crore.

Rupee
The Indian rupee ended above the 90 level per dollar after hitting a record low on Thursday as dollar selling by several foreign banks, likely due to inflows, helped the currency break a six-session losing streak.