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

Indian equity markets witnessed a fall on Thursday, following weak cues from the US market. While the global cues are weighing on Indian markets, analysts said optimism over the US-India trade settlement and positive domestic macros are likely to keep the markets range-bound.

STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a positive start
GIFT Nifty on the NSE IX traded higher by 35.5 points, or 0.14 per cent, at 24,690.50, signaling that Dalal Street was headed for positive start on Friday.

• Tech View: The very short-term trend remains weak, and the Nifty may continue to correct as long as it stays below 24,800. Any rise toward this level could attract selling pressure. On the lower end, support is placed at 24,445 (21EMA); a breakdown below this level could accelerate weakness.
• India VIX: India VIX, which is a measure of the fear in the markets, fell 1.65% to settle at 17.26 levels.

US stocks flat
US stocks closed a choppy session little changed on Thursday, erasing initial declines as Treasury yields eased off recent highs after the House of Representatives passed U.S. President Donald Trump's tax and spending bill.

• Dow and S&P 500 finish flat while Nasdaq up 0.28%

Asian shares mixed
Asian shares were off to a tepid start at the open Friday and Treasuries held Thursday’s gains in a sign of calming US fiscal fears that rocked markets earlier in the week.

• S&P 500 futures were little changed as of 9:24 a.m. Tokyo time
• Hang Seng futures were little changed
• Japan’s Topix rose 0.5%
• Australia’s S&P/ASX 200 rose 0.2%
• Euro Stoxx 50 futures fell 0.6%

Gold gains
Gold was on track for its best weekly gain in over a month on Friday, as a softer dollar and mounting concerns about the deteriorating fiscal outlook of the world's biggest economy boosted the metal's safe-haven appeal.

Oil slips
Oil prices slipped on Friday, weighed down by a stronger U.S. dollar and the possibility that OPEC+ will further increase its crude oil output. Brent futures fell 37 cents to $64.07 a barrel by 0015 GMT. U.S. West Texas Intermediate crude futures lost 39 cents to $60.81.

Stocks in F&O ban today

1) RBL Bank

2) Manappuram

3) Dixon

4) Titagarh Wagons

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.

Rupee
The rupee depreciated 36 paise to close at 85.95 against the US dollar on Thursday, on dollar demand from importers and foreign banks as well as surge in crude oil prices