Pre-market action: Here's the trade setup for today's session

The past week was a bumpy ride for equity markets, but the indices managed to show some resilience at higher levels. In the current week, investors will keep a close watch on various global economic data releases including US Q4 GDP numbers and jobless claims.

"The overall trend remains positive and thus we recommend investors to continue with the buy on dips strategy," Siddhartha Khemka, Head - Retail Research, Motilal Oswal.

Here's breaking down the pre-market actions:

STATE OF THE MARKETS

• Tech View: The range of 22,100 - 22,130 is now the demand zone and a slide below this range can push Nifty back towards 22,000 levels, said Sheersham Gupta of Rupeezy.
• India VIX: India VIX, which is a measure of the fear in the markets, fell 1.5% to settle at 14.97 levels.

US stocks mixed
The S&P 500 and Dow Jones Industrial Average eked out another closing record high on Friday, with all three Wall Street benchmarks scoring weekly gains, as artificial intelligence stocks had enough steam to keep the rally chugging along.

• Dow up 0.16%,
• S&P rises 0.03%,
• Nasdaq down 0.28%

Stocks in F&O ban today

1) Hindustan Copper

2) PVR Inox

3) Piramal Enterprises

4) Canara Bank

5) ZEE

6) RBL Bank

7) GNFC

8) Ashok Leyland

9) Biocon

10) SAIL

11) GMR Infra

12) Balrampur Chini Mills

13) ABFRL

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 were net buyers at Rs 1,276 crore on Friday. DIIs, meanwhile, bought shares worth Rs 176 crore.

Rupee
The rupee consolidated in a narrow range and fell 6 paise to close at 82.91 against the US dollar on Friday, tracking a muted trend in domestic equities

FII data
The net short of FIIs increased from Rs 34,669 crore on Thursday on Wednesday to Rs 37,058 crore on Friday.


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