Introduction
GIFT Nifty performance: GIFT Nifty, previously known as SGX Nifty, is a crucial derivative contract tied to India’s Nifty 50 index. It has transitioned from the Singapore Exchange to the NSE International Exchange (NSE IX) in Gandhinagar, India. This shift represents a significant development in Indian financial markets, offering extended trading hours and greater accessibility for global investors.
GIFT Nifty performance
As of July 17, 2024, GIFT Nifty is trading at 24,737.00, reflecting a slight increase of 0.02%. Today’s trading range has seen a low of 24,704 and a high of 24,770, indicating moderate volatility. The opening price was 24,704, with the previous close at 24,733.
Technical Analysis
Moving Averages:
20-Day EMA: 24,172.55
50-Day EMA: 23,374.15
100-Day EMA: 22,890.57
200-Day EMA: 21,863.37
20-Day SMA: 24,196.35
50-Day SMA: 23,598.55
100-Day SMA: 22,984
200-Day SMA: 22,054.33
Resistance and Support Levels:
First: 24,807.5
Second: 24,882
Third: 24,980
Support:
First: 24,635
Second: 24,537
Third: 24,462.5
About GIFT Nifty
GIFT Nifty is a strategic tool used by hedge funds and institutional investors to hedge their exposure to the Indian stock market. It also allows traders to speculate on the future direction of the Nifty 50 index. The transition from SGX to NSE IX involves approximately $7.5 billion in trade value, highlighting the importance of this move.
Trading Hours
GIFT Nifty is available for trading in two sessions: from 6:30 AM to 3:40 PM IST and from 4:35 PM to 2:45 AM IST the following morning. This extended trading period provides global investors with ample opportunities to engage with the Indian market.
Conclusion
GIFT Nifty’s live performance and technical indicators offer valuable insights for traders and investors. The move to NSE IX in GIFT City marks a new era for Indian derivatives trading, providing broader access and longer trading hours. Stay updated with the latest trends and movements in GIFT Nifty to make informed trading decisions.
GIFT Nifty, previously SGX Nifty, is a futures contract linked to the Nifty 50 index, now traded on the NSE International Exchange.
Indian retail investors are not permitted to trade in GIFT Nifty under the Liberalized Remittance Scheme (LRS).
GIFT Nifty has two trading sessions: 6:30 AM to 3:40 PM IST and 4:35 PM to 2:45 AM IST.
For more detailed insights and daily updates, visit giftcitynifty.co.