D-Street poised for positive start as GIFT Nifty signals gains

Indian equity markets ended higher, buoyed by strong buying in heavyweight stocks, particularly Reliance Industries, which surged more than 9% and lent significant support to the benchmark indices. On the downside, analysts say 23,200 forms the immediate support for Nifty, followed by the 23,000 zone. Holding above these levels remains important to sustain the current bullish momentum.STATE OF THE MARKETSGIFT Nifty (Earlier SGX Nifty) signals a positive startGIFT Nifty on the NSE IX traded higher by 128.5 points, or 0.55 per cent, at 23,531, signaling that Dalal Street was headed for a positive start on Tuesday.Tech View: Immediate support is placed at 23,150–23,100, while resistance is seen at 23,500 and 23,700.

A buy-on-dips strategy is recommended, keeping a strict stop-loss at 22,900.India VIX: India VIX, which is a measure of the fear in the markets, rose 1.3% to settle at 15.50 levels.Live EventsAsian shares slideAsian stocks opened lower after a selloff in US chipmakers deepened, overshadowing a plunge in oil prices on optimism over diplomatic progress toward ending the war in Iran.S&P 500 futures rose 0.2% as of 9:30 a.m.

Tokyo timeHang Seng futures rose 0.7%Nikkei 225 futures (OSE) fell 0.5%Australia’s S&P/ASX 200 rose 0.3%Euro Stoxx 50 futures fell 0.5%US stocks mixedWall Street ended Monday's session on a mixed note, with the S&P 500 and Nasdaq closing lower as investors weighed falling oil prices, concerns over Big Tech's AI spending and a fresh round of corporate earnings. Apple shares slipped ahead of the iPhone maker's quarterly report, while Oracle came under pressure over plans to raise $20 billion through debt and a share sale, Reuters reported.Oil risesOil prices rose in early Asian trade on Tuesday after a report that the United States had struck Iran's Qeshm Island, raising concerns about an escalation of the eight-month conflict and prolonged disruptions to Middle East oil supplies.Gold edges higherGold prices inched higher in early Asian trade on Tuesday after surging more than 2% in the previous session, as a sharp drop in oil prices eased inflation concerns, while investors awaited the outcome of US midterm elections later in the day.Dollar under pressureThe dollar wavered alongside oil prices on Tuesday on hopes for a diplomatic breakthrough between the US and Iran, while the Aussie was steady ahead of the Reserve Bank of Australia's rate decision.Read more: Ahead of Market: 10 things that will decide stock market action on TuesdayStocks in F&O ban today1) Kaynes2) SAILSecurities in the ban period under the F&O segment include companies in which the security has crossed 95% of the market-wide position limit.Read more: FII retreat deepens: Almost every second Nifty stock sees stake cuts in all 3 quarters of 2026FII/DII actionForeign portfolio investors net bought shares worth Rs 3,115 crore on Monday.

DIIs, meanwhile, were net sellers at Rs 392 crore.RupeeThe rupee fell 10 paise to close at 94.86 against the US dollar on Monday, weighed down by a firm greenback in overseas markets.Disclosure: This article has been written by Podishetti Akash, who is not a SEBI-registered Research Analyst or an Investment Adviser. Podishetti Akash and his ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication.

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