GIFT Nifty hints at a flat opening; mixed trends across Asian markets

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The Nifty is showcasing resilience amid its consolidation phase, with analysts expecting the monthly expiry of November derivatives contracts connected Thursday to perchance trigger a breakout supra the captious 24,350 level. Key US economical information expected aboriginal today, including Q3 GDP maturation estimates, PCE ostentation figures, and archetypal jobless claims, volition besides power marketplace sentiment.

Global Market Snapshot

GIFT Nifty: Signaling a muted start, GIFT Nifty traded 9 points higher astatine 24,313.50, hinting astatine a cautious unfastened for Indian markets.

US Markets: Wall Street closed little connected Wednesday arsenic tech stocks led the decline. The Dow, S&P 500, and Nasdaq fell by 0.31%, 0.38%, and 0.6%, respectively.

Asian Markets: Mixed trends were observed successful Asia. While Australia’s S&P/ASX 200 roseate by 0.5%, Japan’s Topix remained flat. S&P 500 and Hang Seng futures edged up by 0.1% each.

Currency Update: The rupee weakened by 11 paise to adjacent astatine 84.40 against the dollar, amid planetary uncertainties and rising crude lipid prices.

Technical View and Strategy

Key Levels: Nifty faces absorption astatine 24,500, portion beardown enactment is seen astir 24,000. A breakout supra 24,500 could pave the mode for important gains.

Strategy: "In this volatile environment, traders should follow a buy-on-dips strategy arsenic agelong arsenic the Nifty stays supra 24,000," said Hardik Matalia, Derivative Analyst astatine Choice Broking.

Volatility Index

India VIX dropped 4.4% to settee astatine 14.62, reflecting reduced marketplace fear.

FII/DII Activity

FPIs: Net buyers of Rs 8 crore
DIIs: Net buyers of Rs 1,302 crore

Key Trends to Watch

US Thanksgiving vacation whitethorn pb to subdued planetary trading volumes.
The euro showed its sharpest emergence successful 4 months, portion the yen gained spot connected speculation of a Japanese complaint hike successful December.

Stay tuned for unrecorded updates and marketplace absorption arsenic cardinal information unfolds.

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