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

By

Akash Podishetti

, ETMarkets.comLast Updated: Jul 23, 2026, 06:21:00 AM IST

Synopsis

Domestic equities declined as broad-based selling persisted across sectors. India VIX surged, reflecting heightened market volatility and investor fear. Analysts expect sideways trading with a negative bias due to global tensions. Foreign portfolio investors were net sellers, impacting market sentiment negatively. The Indian rupee fell to a two-month low as oil prices climbed.

Domestic equities ended lower, with the Nifty declining 0.8% as broad-based selling persisted across sectors, while India VIX surged 5.6%, reflecting heightened market volatility. Analysts say Indian equities are expected to trade sideways with a marginal negative bias in the near term amid continued geopolitical tensions in West Asia, Brent crude prices rising to near their five-week high of around $95 per bbl and continued Foreign Institutional Investor selling. Stock-specific action is likely to dominate as the earnings season progresses.

Read more: Stocks in news: Infosys, IndusInd Bank, Eternal, Adani Green, Dr Reddy's

STATE OF THE MARKETS

• Tech View: The RSI is in a bearish crossover, pointing towards weak momentum in the near to short term. On the lower end, the fall might extend towards 23700/23600 if the Nifty falls below 23900. On the higher end, near-term resistance is seen at 24,100.
• India VIX: India VIX, which is a measure of the fear in the markets, rose 5% to settle at 13.29 levels.

Stocks in F&O ban today

1) Kaynes

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 net sold shares worth Rs 819 crore on Wednesday. DIIs, meanwhile, were net sellers at Rs 418 crore.

Rupee
The Indian rupee fell to a two-month low on Wednesday as oil prices climbed on mounting fears of supply disruptions through key Middle East shipping routes, although dollar sales by state-run banks limited the local currency's losses.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

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