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

Nifty rallied for the fifth consecutive day on Tuesday, driven by strong buying in heavyweight stocks and sustained foreign fund inflows. Analysts expect positive momentum to continue in the market, supported by strong domestic cues with stock/sector specific movements on the back of ongoing Q4 earnings announcements.

STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a muted start
GIFT Nifty on the NSE IX traded higher by 17.50 points, or 0.07 per cent, at 24,167.50, signaling that Dalal Street was headed for muted start on Tuesday.

• Tech View: Sentiment is expected to remain positive as long as the index sustains above the critical moving average. Moreover, the Nifty has moved above the critical resistance of 24,100; therefore, it looks well on track to reach the 24,450–24,500 zone in the short term. On the lower end, support is placed at 23,850.
• India VIX: India VIX, which is a measure of the fear in the markets, fell nearly 2.5% to settle at 15.47 levels.

US stocks fall
U.S. stocks suffered steep losses on Monday as U.S. President Donald Trump ramped up his attacks on Federal Reserve Chair Jerome Powell, prompting investors to worry about the central bank's independence even as they grapple with the effects of Trump's ongoing, erratic trade war.

• Dow dips 3.19%,
• S&P 500 slips 3.27%,
• Nasdaq falls 3.48%

Asian shares drop
Asian stocks edged down at the open after President Donald Trump ramped up his criticism of Federal Reserve Chair Jerome Powell, raising concerns about the central bank’s independence and sparking a selloff in US assets.

• S&P 500 futures rose 0.4% as of 9:11 a.m. Tokyo time
• Hang Seng futures were unchanged
• Japan’s Topix rose 0.2%
• Australia’s S&P/ASX 200 fell 0.9%
• Euro Stoxx 50 futures fell 0.7%

Gold climbs
Gold prices held their record rally on Tuesday, bolstered by concerns over U.S. President Donald Trump's criticism of the Federal Reserve chair and fears that trade tensions could stall economic growth, driving demand for safe-haven assets.

Dollar slips
The dollar languished near its lowest level in three years on Tuesday as President Donald Trump's unrelenting attacks on the Federal Reserve chairman further eroded investor confidence in the U.S. economy.

Oil climbs
Oil prices climbed in early trade on Tuesday as investors took advantage of the previous day's losses to cover short positions, although concerns persisted over economic headwinds from tariffs and U.S. monetary policy that could dampen fuel demand.

Stocks in F&O ban today

1) Angel One

2) Hindustan Copper

3) Manappuram

4) Tata Elxsi

5) IREDA

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 turned net buyers at Rs 1,970 crore on Monday. DIIs bought shares worth Rs 246 crore.

Rupee
The rupee sustained its rally for the fifth straight session and settled with gains of 25 paise at 85.13 (provisional) against the US dollar on Monday, boosted by a sharp fall in the dollar index and a surge in the domestic equities.

FII data
The net short of FIIs reduced from Rs 83,273 crore on Thursday to Rs 77,270 crore on Monday.