On Tuesday, the Nifty recovered 0.5% to close at 24,334 after touching a low of 24,115, supported by buying at lower levels, positive global cues and FII buying ahead of the monthly F&O expiry. Analysts say Indian equities are expected to see some recovery following the decline in crude oil prices. Brent crude fell 3.2% to around $89 per bbl, its lowest level in a week, as hopes of easing US-Iran tensions provided some relief to oil markets, while developments around Iran and the Strait of Hormuz remain key monitorable for oil prices, the rupee and foreign flows.STATE OF THE MARKETSGIFT Nifty (Earlier SGX Nifty) signals a positive startGIFT Nifty on the NSE IX traded higher by 207 points, or 0.85 per cent, at 24,541.5, signaling that Dalal Street was headed for a positive start on Wednesday.Tech View: The RSI has entered a bullish crossover, indicating that momentum is improving. In the short term, the trend may remain strong, with the possibility of further upside. On the higher side, resistance is placed at 24,400/24,480. On the lower side, immediate support is placed at 24,240.India VIX: India VIX, which is a measure of the fear in the markets, fell 3.9% to settle at 11.08 levels.Asian shares declineAsian equities declined as investors cut exposure to technology shares ahead of earnings this week that will test confidence in the artificial intelligence trade.S&P 500 futures fell 0.2% as of 9:48 a.m. Tokyo timeHang Seng futures rose 0.4%Japan’s Topix rose 0.3%Australia’s S&P/ASX 200 rose 0.3%Euro Stoxx 50 futures were little changedUS stocks edged lowerUS equity-index futures edged lower as investors turned cautious before Nvidia Corp.’s earnings, with the results set to test confidence in the artificial intelligence trade. Oil extended its decline, easing inflation concerns.Oil prices slideOil prices dropped about 2% on Wednesday, adding to the previous session's ​losses, on fresh hopes the Strait ​of Hormuz could reopen after Iran said it had resumed talks with ​neighbour Oman on managing the strategic waterway.Gold steadyGold was little changed in early Asian trade on Wednesday as ​investors awaited key U.S. inflation ​data for clues on the Federal Reserve's interest-rate path.Read more: Ahead of Market: 10 things that will decide stock market action on WednesdayStocks in F&O ban todayNILSecurities 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 actionForeign portfolio investors net bought shares worth Rs 1,594 crore on Tuesday. DIIs, meanwhile, were net buyers at Rs 230 crore.RupeeThe rupee pared initial losses and settled for the day higher by 24 paise at 95.46 (provisional) against the US dollar on Tuesday, driven by positive domestic markets, a weaker greenback, and a fall in crude oil prices.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)