In this episode, the host, Shivangi Sarda, provides a comprehensive analysis of the market’s current state and future potential.
Key segments cover technical insights, FII activity, index actionable, and sectors to watch, highlighting Nifty's potential highs, volatility impact, and strong stocks.
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[00:00:00] Welcome to Indian Market in Minutes from the Motilal Oswal Research Desk. We will be covering technical and derivatives, FII's activity, index-accessible sectors and stocks to watch out. So stay tuned till the end. Hey this is your host Shivangi Sarba and to start with our first segment, the Tuesday
[00:00:29] 9th July 2024, Nifty Index opened positive and after the dip in the initial half, it recovered to 24344 soles. It remained in the narrow range of around 100 points throughout the session. It formed a doji sort of candle on the daily frame and closed flatish.
[00:00:48] The index has squeezed in a narrow range from the last few sessions but buying is intact at lower soles. Intervicks was up by around 7% to 13.6 levels. Wallet literally slightly inched higher after cooling off in the entire previous week. Nifty put call ratio settled around 1.18.
[00:01:09] Slight rise in volatility along with the higher put call ratio suggests that momentum is to continue with support-based buying. Option data suggests a broader trading range in between 24000 to 24500 while immediate range is in between 24200 to 24450.
[00:01:29] Moving on to the second segment in the equity cash market, FII's were net buyers to the tune of 61 crores while DII's were buyers worth 2867 crores. FII's indexed long-short ratio is hovering at 83.6%. Going ahead with the index actionable, derivatives data and price setup suggests Nifty has to
[00:01:52] hold above 24250 to extend the move towards 24500 and 24600 when our supports are placed at 24200 then 2450 zones. Bank Nifty has to continue to hold above 52200 for an up move towards 52650 then 52750 while a hold below the same could see some weakness towards 52000 then 51900.
[00:02:23] And finally talking about the sectors and stocks to watch out, positive stance was seen in FMCG fertilizer's oil and gas while profit-taking in banks, auto, cement and selective IT names. Now stocks to keep on return are from the defense space which includes HAL and BEL which
[00:02:42] is consistently shifting its space on the higher zones. From the fertilizer where the seasonality factor plays quite well, we have jungle fertilizers, FAC and Coromandel which is looking quite positive. From the power-ed energy space, we have ONGC and GALE.
[00:03:00] From the consumption and FMCG where we can see a good short covering move which is driving this space includes DARBA, CODRID, CP and ITC. Then we have GALE and GMR in strut from the cap goods and infraspace.
[00:03:16] Wish you a super trading day ahead for more such detailed analysis don't forget to follow this podcast. This is Shivangi Sardar, Sarene Goh. Investment and securities market are subject to market risk. Read all the related documents carefully before investing.