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.
[00:00:23] Hey this is your host Shivangi Sarda and to start with our first segment for Thursday 20th June 2024, Nifty index opened positive and embarked to touch a fresh all-time of 23,664, after which it witnessed slight profit-looking. It breached its previous day's lower soles but respected 23,400.
[00:00:46] India Wix was upped by around 5.8% to 13.7. Volatility has been on the rise from the last two sessions, which is causing momentum at the record high. Nifty put-call ratios settled down at 1.1. Having volatility along with fall in the put-call ratio might want to suggest bumps in the upside move.
[00:01:08] Option data suggest a broader trading range in between 23,200 to 24,000 levels, while immediate range is in between 23,400 to 23,700. Moving on to the second segment, in the equity cash market, FII's were net buyers to the tune of 7,908 crores, while DII's were buyers worth 7,108 crores. FII's indexed long-short ratio increased to 54%.
[00:01:40] Going ahead with the index actionable, derivatives data and price setup suggest Nifty has to continue to hold above 23,500 to extend the move towards 23,660 and then 23,750 soles. Investors' supports are placed at 23,400 then 23,350. BALTLIFTY has to continue to hold above 51,250 for an up move towards 51,957 then
[00:02:09] 52,250, while on the downside support is shifting higher to 51,133 then 50,750. And finally talking about the sectors in stocks to watch out, positive starts with seed in fertilizers, banking and some selective IT names, while profit-taking in most of the other sectors.
[00:02:32] Stocks to keep on radar are Axis Bank, HDFC Bank and IDFC First Bank from the banking space as BALTLIFTY heads to a fresh all-time high. Coramundle and Chambal Fertilizer from the fertilizer space which are smiling ahead of the monsoon season.
[00:02:50] Trend remains strong, one of the retail favourite and is on the move. Wish you a great trading day ahead. For more such detailed analysis don't forget to follow this podcast. This is Shabargi Sarda signing off. Investment and securities market are subject to market risk.
[00:03:18] Read all the related documents carefully before investing.