GIFT Handy down 20 points; here is the trading setup for today’s session

Nifty ended higher on Monday to close above 26,000 points amid optimism among investors as second quarter corporate earnings closed on a healthy note. Analysts expect the market to witness a sustained rise, driven by improving earnings momentum, strong domestic macros and stable policy support.STATE OF THE MARKETS
GIFT Nifty (earlier SGX Nifty) signals a muted start
GIFT Nifty on the NSE IX was trading 21.50 points, or 0.08 percent, lower at 26,009, indicating that Dalal Street was heading for a quiet start on Tuesday.

• Technical representation: Support levels are also moving higher, with the 21-DMA now standing around 25,790. Overall, the broader trend remains bullish, and any significant pullback is likely to present a buying opportunity.
• India VIX: India’s VIX, which is a measure of fear in the markets, fell 1.2% to the level of 11.79.

US stocks end lower
US stocks closed sharply lower on Monday, with the S&P 500 and Nasdaq closing below a key technical indicator for the first time since late April, as investors braced for quarterly results from retailers and chip giant Nvidia and waited for a long-delayed US jobs report this week.

• Dow down 1.2%,
• S&P 500 falls 0.9%,
• Nasdaq falls 0.8%

Asian shares fall
Asian shares fell on opening day after Wall Street’s collapse as investors moved away from riskier assets ahead of Nvidia Corp.’s earnings. and a major US jobs report later this week.

• S&P 500 futures rose 0.2% as of 9:03 a.m. Tokyo time
• Hang Seng futures fell 0.7%
• Japan’s Topix fell 0.6%
• Australia’s S&P/ASX 200 fell 0.9%
• Euro Stoxx 50 futures fell 0.9%

The yen is sliding

The yen slid to its weakest level in more than nine months in early trading in Asia on Tuesday as the dollar benefited from declining expectations that the Federal Reserve would cut interest rates at its policy meeting next month.

Gold falls
Gold fell for a fourth straight session on Tuesday, pressured by a strong dollar and reduced prospects for a US interest rate cut next month.

Shares in F&O ban today

1) SAILSecurities 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 bought net shares worth Rs 442 crore on Monday. DIIs, meanwhile, were net buyers at Rs 1,466 crore.

Rupee
The rupee appreciated 7 paise to settle at 88.59 against the US dollar on Monday, following robust domestic stock markets and lower global crude oil prices.