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 Motilal Oswal's research desk. We will be covering technical and derivatives, SII's activity, index, actionable sectors and stocks to watch out. So stay tuned till the end.
[00:00:22] Hey, this is your host Shivangi Sardha and let's look at what happened globally.
[00:00:26] The market is expected to open on a weak note due to concerns over rising Shurroy prices which have hit a one-month high, escalating geopolitical tensions between Iran and Israel and significant selling by the FIIs in the previous session.
[00:00:41] To start with our first segment for Friday, 4th October 2024, Nifty index opened gap down below 25500 by almost 350 points and cascaded right from the second hour of the trade.
[00:00:55] It fell to 25 to 30 levels and closed with losses of more than 550 points.
[00:01:00] It formed a bearish candle on the daily frame with longer upper shadow indicating pressure on the higher side.
[00:01:06] It has been making lower highs, lower lows from the last three sessions.
[00:01:11] Intermix was down by 10% to 13 levels.
[00:01:14] Nifty put call ratio increased to 0.90.
[00:01:18] Option data suggests a broader trading range in between 24,800 to 25,800.
[00:01:24] While the immediate range is in between 25,000 to 25,500.
[00:01:29] Moving on to the second segment is the equity cash market.
[00:01:33] FIIs were net sellers to the tune of 15,243 crores.
[00:01:38] While DIIs had an offsetting position and from buyers worth 12,914 crores.
[00:01:44] FIIs indexed long-shot ratio significantly dropped to 66%.
[00:01:49] Going ahead with the indexed actual book, derivatives data and price setup suggest,
[00:01:54] till nifty holds below 25,300, more weakness could be seen towards 25,100 then 24,950.
[00:02:03] While hurdles are placed at 25,350 and then 25,500.
[00:02:08] Till the time bank nifty holds below 52,222 which is an important retracement level,
[00:02:14] weakness could be seen towards 51,500 then 51,000 levels.
[00:02:20] While on the upside hurdle can be seen at 52,350.
[00:02:24] And finally talking about the sectors and stocks to watch out,
[00:02:27] selling pressure was seen in all the sectors across board.
[00:02:30] Now, selective stocks which have a positive setup include JSW Steel and Jindal Steel from the metal space.
[00:02:38] We have a few names from the oil and gas sector which includes Petronid, Gale and MGL.
[00:02:43] Of course, Pharma is holding strong with Alkem and DVSlam having a good structure.
[00:02:48] Some weakness could be seen in Darbar, GMR Infra, PFC, IRCTC, LTTS, Barta, Tata Motors, Reliance, HAL, Emphasis, Asian Paint and Concorde.
[00:02:59] Wish you a super trading day and a lovely weekend ahead.
[00:03:03] Shivanki Sardar signing off. Follow this podcast for solid advice.