GIFT Useful 30 points; here is the trading setup for today’s session

Indian shares extended their recovery for a second straight session on Monday, supported by a firmer rupee. Going forward, analysts expect markets to remain stable, supported by broad buying interest and favorable global cues.STATE OF THE MARKETS
GIFT Nifty (earlier SGX Nifty) marks a positive start
GIFT Nifty on the NSE IX was trading 29 points, or 0.11 per cent, higher at 26,240, indicating that Dalal Street was heading for a positive start on Tuesday.

• Technical representation: The trend is likely to favor the bulls as long as the index remains above 25,900, making a buy-on-dips strategy beneficial. On the higher side, 26,315 could act as immediate resistance, above which a further rally could unfold.
• India VIX: The India VIX, a measure of market fear, rose 1.6% to 9.68.

US stocks end higher
U.S. stocks closed higher Monday to kick off the shortened trading week, buoyed in part by a continued recovery in technology stocks in a broad rally that saw gains in nearly all of the S&P 500’s 11 sectors.

• Dow up 0.47%,
• S&P 500 rises 0.64%,
• Nasdaq gains 0.52%

Asian stocks gain
Stocks in Asia extended their two-day rise as bullish momentum lifted stocks on Wall Street, signaling a much-hyped year-end rally is taking hold.

• Futures on the S&P 500 were little changed at 9:13 a.m. Tokyo time
• Hang Seng futures rose 0.4%
• Japan’s Topix rose 0.6%
• Australia’s S&P/ASX 200 rose 0.5%
• Euro Stoxx 50 futures fell 0.3%

Golden jumps
Gold rose to a record high on Tuesday as investors rushed to the yellow metal often seen as a safe haven as the US tried to seize more tankers carrying Venezuelan oil, while silver also hit near-record highs.

Shares in F&O ban today

Sammaan CapitalSecurities 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 457 crore on Monday. DIIs, meanwhile, were net buyers at Rs 4,058 crore.

Rupee
The rupee pared initial gains and entered negative territory for the day, down 1 paisa at 89.68 against the US dollar on Monday, after support from positive domestic equities was offset by a recovery in crude oil prices.

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