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

Equity markets retreated from record-high levels and remained in negative territory to close flat on Tuesday. Going forward this week, global markets are expected to remain volatile ahead of key economic data scheduled.

"After the strong move seen in the previous session, we expect the market to consolidate over the next few days keeping various key events in mind," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal.

Here's breaking down the pre-market actions:

STATE OF THE MARKETS

• Tech View: A decisive move above the hurdle of 22500-22600 levels could open more upside for Nifty in the near term. Immediate support is at 22350 levels, said Nagaraj Shetti of HDFC Securities.
• India VIX: India VIX, which is a measure of the fear in the markets, fell 3.56% to settle at 11.65 levels.

Stocks in F&O ban today

1) Hindustan Copper

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 sellers at Rs 1,622 crore for second straight day. DIIs, meanwhile, bought shares worth Rs 1,953 crore.

Rupee
The rupee on Tuesday consolidated in a narrow range and settled 3 paise lower at 83.42 against the US dollar, weighed down by a strong dollar and elevated crude oil prices.

FII data
The net short of FIIs increased from Rs 21,587 crore on Monday to Rs 15,427 crore on Tuesday.