Pre-sale settings (June 2): Gift nifty up 40 minutes; a market that may be open with green
Gift nifty tips start positively, but global tips keep traders cautious
The Indian market is likely to open on Monday, June 2nd and receive a positive trend in favor of gift modifications and optimistic domestic fundamentals. Nifty Nifty traded 40 points higher at 24,877 at 6:50 a.m., suggesting a moderate and optimistic start of the week. But global tips and sales pressures from foreign investors are likely to reap growth on Dalar Street.
Key Levels to Watch: Beautiful at Resistance; Support is 24,700
According to technical analysts, Nifty faces resistance around the 24,800 mark, where he saw heavy call writing. On the downside, the immediate support is 24,700. Violation of this level could trigger further weakness of 24,500. Analysts recommend a stock-specific approach in today’s trade and keep an eye on volatility and institutional flows.
India VIX volatility is easily below 16.10
India VIX (Volatility Meter) fell 2.09% to close at 16.08 on Friday, indicating a temporary calm for traders. Despite global headwinds, this decline is still suggesting that the domestic market is still comfortable in the macro setup, especially after strong GDP printing and expectations for RBI reduction rates.
Global market pressure: Asian stocks slip as trade tensions
In early Monday, Asian markets were mostly lower. Japan’s Topix fell 0.8%, while the S&P 500 futures fell 0.3%. Investors are cautious due to the update of U.S.-China trade tensions. The Euro Stoxx 50 futures and the Australian ASX 200 are largely flat, reflecting mixed investor sentiment.
Crude oil rebound; dollar weakens
Oil prices rebounded in early Asian trade after OPEC+ agreed to increase production in July in line with previous hikes. At the same time, the dollar weakened slightly as the market reassessed the impact of U.S. tariff policies on inflation and growth.
FII net seller, DIIS speeds up purchases
Foreign Institutional Investors (FIIS) unloaded shares worth Rs 64,500 crore on Friday, expanding their sales frenzy. However, domestic institutional investors (DIIS) provided strong support with a net purchase worth Rs 90,96 crore, reflecting ongoing local confidence.
Rupee slips as crude oil rises
Indian rupee closed at 85.55 shares per dollar, down 7 pence. Rising crude oil prices and equity volatility have increased early on local currencies.
F&O Ban List: Manappuram under Restrictions
Manappuram is the only stock under the catering ban today. This happens when the stock has an open interest exceeds 95% of the market scope.
Outlook: Cautious Optimism
While the gift’s nifty indicates a green start, market participants are expected to remain cautious later this week ahead of key global data and RBI policy tips. Investors should monitor recent global developments, FII liquidity and crude oil price trends.
