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

Pre-market setup points to weak momentum with Nifty RSI showing a bearish crossover; key support lies at 23,700/23,600 and resistance at 24,100. India VIX rose 5 percent to 13.29, signalling rising fear. Foreign portfolio investors net sold shares worth Rs 819 crore while DIIs sold Rs 418 crore on Wednesday, and the rupee weakened to a two-month low on rising oil prices and Middle East supply concerns.