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

By

Akash Podishetti

, ETMarkets.comLast Updated: Jul 31, 2026, 05:14:00 AM IST

Synopsis

Indian benchmark indices opened flat and traded in a choppy, volatile range. Analysts suggest the index may head towards resistance at 24,500-24,600 levels. The India VIX, measuring market fear, rose 1.2% to settle at 12.16. Foreign portfolio investors and domestic institutions were net buyers of shares on Thursday. The Indian rupee closed nearly flat, blunting pressure from oil prices and corporate demand.

Trading setup for the day
Indian benchmark indices opened on a flat note and traded in a choppy, volatile range throughout the session amid the monthly Sensex expiry. From short term perspective, analysts say the index to head towards the key resistance area of 24,500-24,600 levels being the confluence of the current month high and the high of April 2026.

STATE OF THE MARKETS
Tech View: Sentiment is likely to remain positive in the short term, with the potential to rise towards 24,500. On the lower end, immediate support is placed at 24,200, below which the index might lose its current momentum.

India VIX: India VIX, which is a measure of the fear in the markets, rose 1.2% to settle at 12.16 levels.

Read Also: Ahead of Market: 10 things that will decide stock market action on Friday

Stocks in F&O ban today

NIL

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 bought shares worth Rs 3,623 crore on Thursday. DIIs, meanwhile, were net buyers at Rs 1,864 crore.

Rupee
The Indian rupee closed nearly flat on Thursday as pressure from sustained volatility in oil prices and corporate dollar demand was blunted by likely central bank intervention that helped the currency hold clear of the psychologically key 96 level.

(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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