Bulls Take Charge: Nifty's Rebound from Lows

[00:00:00] Welcome to Indian Market in Minutes from the Motilal Oswal Research Death.

[00:00:05] We will be covering technical and derivatives FII's activity, index actionable sectors and stocks to watch out.

[00:00:12] So stay tuned till the end.

[00:00:24] Hey, this is your host Shivangi Thanda and to start with our first segment for Thursday 5th of September 2024,

[00:00:31] Nifty Index opened gap down by around 200 points on account of weak global queues

[00:00:36] but that marked the low of the day and we witnessed a comeback of the Bulls.

[00:00:41] Recovery was seen throughout the day and it managed to recover by 130 points from its intraday lows.

[00:00:47] It formed a bullish belt hold sort of a candle on the daily frame and close near its higher zones.

[00:00:53] Now, it has to continue to hold above 25200 for the next uproar.

[00:00:59] India wicks were down by around 4% to 14.4 levels.

[00:01:03] Nifty put call ratio decreased to 1.08.

[00:01:05] Volatility slightly inched higher but has been hovering in a narrow band at its lower zones

[00:01:11] which is paving the way for the Bulls at any declines.

[00:01:15] Option data suggests a broader trading range in between 24900 to 25700

[00:01:22] while immediate range is in between 25000 to 25500.

[00:01:27] Now, the US 10 year bond yield has dropped to a one year low of 3.7%

[00:01:33] driven by expectation of a rate cut.

[00:01:36] The US Dow Jones Index rebounded into positive territory yesterday

[00:01:40] following dovish commenced from the Fed officials and a decrease in the new job openings

[00:01:45] which enhanced sentiments around a potential rate cut at the Fed September meeting.

[00:01:50] Now moving on to the second segment in the equity cash market

[00:01:54] FII's were net buyers to the tune of 975 crores while DII's were buyers worth 97 crores.

[00:02:02] FII's index long shot ratio decreased to 68%.

[00:02:06] Going ahead with the index actionable, derivatives data and price setup suggest

[00:02:10] Nifty has to continue to hold above 25200 for an up move towards 25400 then 25500

[00:02:19] while supports can be seen at 25100 then 25000 levels.

[00:02:25] Bank Nifty has to continue to hold above 5100250 for an up move towards 5100750 then 52000 levels

[00:02:34] while supports can be seen at 51000 zones.

[00:02:38] And finally talking about the sectors and stocks to watch out

[00:02:41] positive stance was seen in pharma, consumption, realities, cement and construction stocks.

[00:02:47] Now stocks to keep on radar, weak demand from China and US

[00:02:52] put down oil prices by 6% in the last two days.

[00:02:56] And oil prices have dropped to a 14 month loop which is likely to drive a positive move for HPCL.

[00:03:03] Now beneficiaries from this oil price drop will also be seen in

[00:03:07] Asian paint, Berger paint and Petalite.

[00:03:10] Some of the other counters which are looking quite positive from the FMCG space

[00:03:15] we have Darbar and HUL.

[00:03:17] From the cement pack we have JK cement and Ultra Tech cement.

[00:03:21] Capital market related stocks also including the broken depository exchange related counters

[00:03:27] like MCX looking quite good.

[00:03:30] Now, pharma remains positive and Alchim and Lupin can be kept on radar.

[00:03:34] Weakness could be seen in RBL Bank, Federal Bank, Cold India Bank of Verota, Bheil, BNB and NMDC.

[00:03:42] Wish you a super trading day ahead.

[00:03:44] Shivangi Sardar signing off.

[00:03:46] Follow this podcast for solid advice.

[00:04:01] Investment and securities market are subject to market risk.

[00:04:05] Read all the related documents carefully before investing.