In this episode of Indian Market in Minutes with Motilal Oswal, 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 Motilal Oswal Research Test. We will be covering
[00:00:06] technical and derivatives, SII's activity, index, actionable sectors and stocks to watch out.
[00:00:12] So stay tuned till the end.
[00:00:22] Hey, this is your host Shivangi Saadha and let's look at what happened globally.
[00:00:26] The market is expected to open flat, supported by good performances in the Asian markets and
[00:00:32] optimism surrounding a potential interest rate cut by the US Fed Reserve.
[00:00:36] However, the Indian markets have been under pressure.
[00:00:40] To start with our first segment for Thursday, 14th November 2024, Nifty Index opened negative and
[00:00:47] cascaded right from the start of the session and broke all its crucial support zones.
[00:00:52] Bears had complete control over the index and it dropped to 23,500 marks to close with losses of more than 300 points.
[00:01:00] It formed a bearish candle on the daily frame and has been making lower lows from the last five sessions.
[00:01:07] IndraWix was up by around 6% to 15.5 levels.
[00:01:11] Nifty put-call ratio decreased to 0.70.
[00:01:15] Option data suggest a broader trading range in between 23,200 to 24,000 levels,
[00:01:22] while immediate range is in between 23,400 to 24,800.
[00:01:27] Moving on to the second segment in the equity cash market, FIIs were net sellers to the tune of 2,500 crores,
[00:01:36] while DIIs were buyers worth 6,150 crores.
[00:01:40] FIIs' index long-shot ratio decreased to 22.5%.
[00:01:45] Going ahead with the index actionable, derivatives data and price set-up suggest,
[00:01:50] till Nifty holds below 23,650, weakness could be seen towards 23,350 then 23,200,
[00:01:58] while hurdles are placed at 23,750 and 23,900.
[00:02:03] Till the time bank Nifty holds below 50,500, weakness could be seen towards 49,500 levels,
[00:02:12] while hurdles can be seen at 50,750.
[00:02:15] And finally, talking about the sectors and stocks to watch out, positive stance can be seen only in the IT space,
[00:02:22] which includes some of the stocks like Infosys, Wipro and CoForge.
[00:02:26] While weakness can be seen in Bandhan Bank, Cummins India, Granules, RBL Bank, Tata Power,
[00:02:32] IDFC First Bank, Aarti Industry, Aditya Birla, Tata Chemicals, Bhel, AU Bank and MGL.
[00:02:38] Wish you a super trading day ahead.
[00:02:41] Shivangi Sarda signing off.
[00:02:43] Follow this podcast for solid advice.