Pre-market action: Here's the trade setup for today's session
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The Nifty is expected to undergo further consolidation in the upcoming sessions, encountering resistance around the 22,700-22,800 levels. Support is expected around the 22,400-22,300 range. The net short of FIIs increased from Rs 33,628 crore on Thursday to Rs 35,190 crore on Friday. Benchmark indices logged a third week of gains, ending the first week of FY25 on a positive note. The outlook for the market will be guided by major global and domestic economic data, including CPI and IIP data, US inflation numbers, jobless claims, among others. India VIX, a measure of fear in the markets, rose 1.05% to settle at 11.34 levels. US stocks finished higher on Friday after a strong jobs report. FPIs were net sellers at Rs 1,136 crore for the fourth straight day on Thursday. DIIs sold shares worth Rs 893 crore. The rupee rose 8 paise to close at 83.31 against the US dollar. The article provides information on stock prices, IPOs, and other market trends.

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