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 actionable sectors and stocks to watch out. So stay tuned till the end.
[00:00:15] Hey, this is your host Shivangi Sardar and before we start, we will be having a special episode later today with Mr. Chandan Tapadia where we will be discussing what's in store for us in July. So follow this podcast so you don't miss out on the exclusive episode.
[00:00:41] To start with our first segment for Friday, 28 June 2024, Nifty Index opened Flatish but Bulls comfortably escalated it to cross the psychological 24,000 marks and touched a fresh all-time high of 24,087 levels. It has been consistently trending higher from the last four sessions
[00:01:02] and gave the highest ever close. It formed a bullish candle on the daily frame and has been forming higher highs, higher lows from the last three sessions. India Wix was up by around 1% to 14 levels. Comparatively lower volatility is converting the bulls to drive the index at
[00:01:20] higher zones. Nifty Putcall Ratio rose to 1.49. Slight rise in volatility along with the rise in Putcall Ratio suggests momentum is on the upside to continue with support-based buying. Option data suggests a broader trading range in between 23,600 to 24,500 while immediate
[00:01:42] range is in between 23,750 to 24,250. Moving on to the second segment in the equity cash market, FII's were net buyers to the Turov 7,659 crores while DII's were sellers worth 3,606 crores. FII's index long-shot ratio increased to 82%. Going ahead with the index actionable,
[00:02:07] derivatives data and price setup suggests Nifty has to continue to hold above 3,400 to extend the move towards 24,250 and 24,400 whereas supports are placed at 23,800 then 23,700. Bank Nifty has to continue to hold above 52,500 for the up move towards 53,180 then 53,500 while on the downside support is placed at 52,400 then 52,200.
[00:02:40] And finally talking about the sectors and stocks to watch out, positive stands with seed in most of the sectors and buying with seed across board. Now stocks to keep on radar are from the cement space which is getting stronger and stronger. We have grassy, ultra-tech cement
[00:02:56] and India cement. From the capital goods space we have humans, India, ABB and cements which is looking quite positive. Barthi et al is giving up price and volume, breakouts from the consolidation and surpassed its previous hurdle zones. From the IT space we have Dixon and Vipro
[00:03:15] better of the lot and consolidating at higher zones. Wish you a super trading day ahead, see you later today on this special episode. This is Shabanki Sardar signing off. Investment and securities market are subject to market risk. Read all the related documents carefully before investing.