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.
[00:00:14] Hey, this is your host Shivangi Sarda and let's look at what happened globally.
[00:00:18] The market is expected to open with stable global conditions as traders have absorbed the geopolitical tensions between Russia and Ukraine.
[00:00:26] Additionally, with the domestic market having corrected by 10% from its recent highs, there is an attractive risk-reward scenario.
[00:00:34] Foreign funds are also expected to ship from China to India due to concerns over a political trade war between the US and China.
[00:00:43] To start with our first segment for Thursday, 21st November 2024, Nifty Index opened positive and moved upwards with intensity in the first tick, followed by some consolidation.
[00:00:55] However, it later slipped and wiped off most of its intraday gains but respected the previous day's low of 23,350 levels.
[00:01:03] Now, it formed a small-body bearish candle on the daily frame with longer upper shadows and broke its lower lows formation of the last seven sessions.
[00:01:13] Etia Wix was up by another 6.5% to 16 levels. Nifty put-call ratio slightly decreased to 0.83.
[00:01:20] Option data suggests a broader trading range in between 23,000 to 23,900, while immediate range is in between 23,300 to 23,700.
[00:01:33] Moving on to the second segment in the equity cash market, FIIs were net sellers to the tune of 3,412 crores, while DIIs were buyers worth 2,784 crores.
[00:01:46] FYI's index long-shot ratio increased to 25.5%.
[00:01:51] Going ahead with the index actionable, debited status and price setup suggest, till the time Nifty holds below 23,500, some weakness and consolidation could be seen towards 23,350 levels, while hurdles are placed at 23,750 marks.
[00:02:09] Talking about Bank Nifty, it has to hold above 50,500 for a bounce towards 51,000 and 51,350, while a hold below the same could see weakness towards 49,900.
[00:02:23] And finally, talking about the sectors and stocks to watch out, positive setup can be seen in Federal Bank, MCX, Coromundal, Divi's Lab, Indian Hotel, Tech Mahindra, HDFC Bank, Loris Labs and Itka Labs.
[00:02:38] While some weakness could be seen in BPCL, Berger Pains, HUL, Metropolis, Britannia, Bata, Nestle, Bajaj Auto, Siemens, Concord, MGL and NTPC.
[00:02:52] Wish you a super trading day ahead.
[00:02:54] Shivangi Saadha signing off.
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[00:03:12] Investment and securities market are subject to market risk.
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