GIFT Nifty down 40 points; here's the trading setup for today's session

Nifty ended lower for the third consecutive session on Monday. The markets were dragged by weakness in private banking and realty stocks. Analysts expect the market to remain under pressure amid mixed Q1 earnings, continued FII selling and lack of progress on the India-US trade deal ahead of the nearing deadline.

Stock-specific action will likely continue as the earnings season gathers pace.

STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a negative start
GIFT Nifty on the NSE IX traded lower by 39.50 points, or 0.16 per cent, at 24,664.50, signaling that Dalal Street was headed for negative start on Tuesday.

• Tech View: The RSI continues to support the bears with its negative crossover. In the short term, the index may remain under pressure, with a possibility of slipping towards 24,550. On the higher end, resistance is seen at 24,800 and 24,950.
• India VIX: India VIX, which is a measure of the fear in the markets, rose 7% to settle at 12.06 levels.

S&P 500, Nasdaq close higher
The S&P 500 edged higher to eke out a record high close for a sixth straight session on Monday, while the Nasdaq also advanced to a closing record in choppy trade as investors gauged the U.S.-EU trade pact and prepared for a week of major market catalysts.

• Dow off 0.14%,
• S&P 500 rises 0.02%,
• Nasdaq up 0.33%

Asian stocks dip
Asian stocks are poised for a weak start Tuesday following a stagnant session for equities on Wall Street, as investors were cautious ahead of a packed week of economic data and corporate earnings.

• S&P 500 futures were little changed as of 8:31 a.m. Tokyo time
• Hang Seng futures fell 0.5%
• S&P/ASX 200 futures fell 0.7%

Gold dips
Gold prices edged lower in early trade on Tuesday, weighed down by easing concerns over a global tariff war and a stronger U.S. dollar, while investors focussed on the Federal Reserve policy meeting for interest rate clues.

Oil climbs
Oil extended gains on Tuesday, lifted by hopes of improved economic activity after the U.S.-EU trade deal, a potential U.S.-China tariff truce and President Donald Trump's shorter deadline for Russia to end the Ukraine war.

Euro under pressure
The euro struggled to recoup its steep losses on Tuesday as investors sobered up to the fact that terms of the trade deal between the U.S. and the European Union favoured the former and hardly lifted the economic outlook of the bloc.


Stocks in F&O ban today
RBL Bank

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 net sold shares worth Rs 6,082 crore on Monday. DIIs, meanwhile, were net buyers at Rs 6,765 crore.

Rupee
The Indian rupee dipped on Monday as month-end dollar bids from importers exerted some pressure, but the currency largely sidestepped the spillover from a firmer dollar, which traders indicated was due to the absence of substantial outflows.

FII data
The position of FIIs in the futures market increased from a net short of Rs 1.58 lakh crore on Friday to Rs 1.64 lakh crore on Monday.