Great Trades of the Day: Pre-Market Action: Here are the trade setups for today’s session:

The Indian stock market has continued its impressive streak, recording seven consecutive weeks of gains, with the prevailing momentum growing stronger with each passing week.

Analysts said the direction of the market will be greatly influenced by the flow of funds from foreign investors in the coming weeks.

Below is a breakdown of the pre-market action.

Market Status

• Technical view: Once the immediate resistance at 21492 is cleared, further upside is likely. However, caution is needed in the near term as the 14-day RSI is in overbought territory at 84.93. Hence, one can take advantage of the short-term correction to buy quality stocks, said Subash Gangadharan, senior technical and derivatives analyst at HDFC Securities.
• India VIX: India’s VIX, which indicates market fear, rose 6.55% and settled at 13.13.

US stocks rise
The S&P 500 ended a choppy session with little change on Friday, but extended gains for the seventh straight week, its longest winning streak since 2017 after the Federal Reserve’s dovish pivot this week.

Asian stocks are mixed
Asian stocks are expected to weaken after a six-day rally in U.S. stocks as Federal Reserve officials push back against forecasts of aggressive interest rate cuts next year.

• S&P 500 futures were little changed as of 8:27 a.m. Tokyo time. S&P 500 was little changed on Friday
• Nasdaq 100 futures were little changed. Nasdaq 100 rose 0.5%
• Hang Seng futures fell 0.8%
• Australia’s S&P/ASX 200 index fell 0.4%.

Stocks banned from F&O today
1) Delta Corporation

2) sailing

3) Indian Cement

4) Hindustani Copper

5) Manappuram

6) Balrampur Chinni Mills

7)

Securities in the F&O sector embargo period include companies whose securities exceed 95% of market-wide position limits.

FII/DII measures
Foreign portfolio investors were net buyers of Rs 9,239 crore on Friday. DII sold shares worth Rs 3,077 crore.

rupee
The rupee rose 27 paise to close at 83.03 against the US dollar on Friday, helped by continued foreign fund inflows and record domestic stock market rebound.

F&O data
The net long position of FIIs declined from Rs 35,363 billion on Thursday to Rs 50,211 billion on Friday.