In this episode of Indian Market in Minutes from the Motilal Oswal Research Desk, host Shivangi Sarda shares key updates and actionable insights to kickstart your trading day.
- Global Highlights: How Asian market rallies and optimism about a US Fed rate cut set the tone.
- Indices Overview: Nifty’s 600+ point move, bullish candle formations, and India VIX dipping to 13.
- Actionable Ranges: Expected trading zones for Nifty (24300-25200) and Bank Nifty (53300-54500).
- FIIs vs. DIIs: FIIs as net buyers to the tune of ₹2335 crore while DIIs were sellers at ₹732 crore.
- Stocks to Watch: Positive trends in Bharti Airtel, Ultratech Cement, and Max Healthcare, while NMDC and Adani Green signal caution.
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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 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 Sarada and let's look at what happened globally.
[00:00:26] The market is expected to open positively due to a rally in the Asian markets, sustained buying by the FIIs and the optimism surrounding a potential US Fed interest rate cut, which is expected to boost the market sentiment.
[00:00:40] However, it is likely to remain range-bound in the near short term as investors await the outcome of the Fed's decision.
[00:00:47] To start with our first segment, for Monday 16th December 2024, Nifty Index opened negative and slipped below 24,200 after breaking all the immediate support zones.
[00:01:00] But it witnessed a complete change as bulls took over with aggression.
[00:01:05] It moved by more than 600 points from its intraday lows and inched towards 24,800 to close near its day's highest band with gains of more than 220 points.
[00:01:15] It formed a bullish candle on the daily frame and weekly frame with longer lower shadow indicating that strong support-based buying is visible at lower levels.
[00:01:25] India Wix was down by 1% to 13 levels.
[00:01:29] Nifty put-call ratio increased to 1.12, which comforts the bulls.
[00:01:34] Option data suggest a broader trading range in between 24,300 to 25,200, while immediate range is in between 24,500 to 25,200.
[00:01:46] Moving on to the second segment, in the equity cash market, FIIs were net buyers to the tune of 2,335 crores, while DIIs were sellers worth 732 crores.
[00:01:58] FIIs indexed long-shot ratio increased to 41%.
[00:02:02] Going ahead with the index actionable, Devitus data and price set-up suggests Nifty has to continue to hold above 24,700 for the next up move towards 25,200 marks, while support can be used to the next up move towards 25,200 marks.
[00:02:18] Moving on to Bank Nifty, it has to hold above 53,300 for a bounce towards 54,500, while support can be seen at 52,850.
[00:02:29] And finally, talking about the sectors and stocks to watch out, positive set-up can be seen in Bharti Airtel, Ramco Cement, Ultratech Cement, Indian Hotel, JK Cement, Shree Cement, Loris Labs and OFSS.
[00:02:42] While some weakness could be seen in NMDC, Exide Industries, Sipla, Zydis, Aarti Industries and SPI Live.
[00:02:50] Wish you a super trading day and a lovely week ahead.
[00:02:54] Shivangi Sarda signing off.
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