Indian equity markets are experiencing a bearish trend due to escalating Middle East conflict and rising crude oil prices. Analysts suggest a break below 24,600 could lead to further declines, while a sustained move above 25,200 is needed for stabilization. The India VIX has surged, indicating increased market fear.
Pre-market action: Here's the trade setup for today's session
Indian equity markets are seeing a bearish undertone in response to the deepening military conflict across the Middle East, which pushed crude oil prices markedly higher. Analysts say a decisive break below 24,600 could trigger another leg toward 24,400. Conversely, a sustained move above 25,200 on a closing basis is required to neutralize the immediate downside bias and signal stabilization.
STATE OF THE MARKETS
Tech View: Key support is placed at 24,600; a decisive break below this level could extend the decline towards 24,200. On the upside, immediate resistance is seen at 25,000 and a break above the same will attract a short covering towards 25200 levels.
India VIX: India VIX, which is a measure of the fear in the markets, rose 25% to settle at 17.13 levels.
Stocks in F&O ban today
Samman Capital
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.
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FII/DII action
Foreign portfolio investors net sold shares worth Rs 3,295 crore on Tuesday. DIIs, meanwhile, were net buyers at Rs 8,594 crore.
Rupee
The rupee saw a steep loss of 41 paise to settle at 91.49 against the US dollar on Monday after US and Israeli attacks on Iran intensified worldwide risk aversion, setting crude oil prices on fire and demand for the American currency soaring.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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