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GIFT Nifty (formerly known as SGX Nifty) is a derivative contract based on the Nifty 50 index that trades during extended hours, offering a valuable early indicator for the Indian markets. It plays a crucial role in intraday trading by providing insights into pre-market direction, allowing traders to gauge sentiment before the Indian market opens. Since it reflects overnight global market movements, it helps integrate global cues into trading strategies. GIFT Nifty also aids in risk assessment by signaling potential market gaps and enabling traders to plan positions in advance based on emerging trends. To effectively use GIFT Nifty, traders should compare its current levels with the previous day’s Nifty close. Significant upward or downward gaps can hint at strong opening moves, guiding the formation of bullish or bearish intraday strategies. Additionally, tracking GIFT Nifty in conjunction with global market indicators offers a more comprehensive view of market sentiment. Traders can also look at the premium or discount relative to spot Nifty for potential arbitrage opportunities. For example, if GIFT Nifty is trading 72.5 points lower than the previous close, it signals a likely weak opening, suggesting the need for bearish strategies or protective positions.