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 Test. We will be covering technical and derivatives, FIIs activity, index actionable, sectors and stocks to watch out. So stay tuned till the end.
[00:00:17] Hey, this is your host Shivanki Sardha and to start with our first segment for Tuesday, 2nd July 2024, Nifty Index opened flatish and escalated upwards right from the start of the session and went on to touch 24,150 Zodes. It moved patiently and closed with the
[00:00:45] gains of around 130 points. It formed a bullish calendar on the daily frame and the good part is it has been making higher lows from the last 5 sessions which indicates support base buying is intact. India which was slightly up to 13.83 levels. Comparatively lower volatility is converting
[00:01:04] the bulls to drive the index at higher Zodes. Nifty put call ratio rose to 1.21. Competitively fallen volatility along with rise in put call ratio suggests that momentum is to continue on the upside direction. Option data suggests a broader trading range in between 24,000
[00:01:24] to 24,500 while immediate range is in between 24,100 to 24,300. Going on to the second segment in the equity cash market, FII's were net sellers to the tune of 426 crores while DII's were buyers worth 3917 crores. FII's indexed long shot
[00:01:46] ratio increased to 82.6% at its highest level since May 2021. Going ahead with the index actionable, Deftiz data and price setup suggests Nifty has to hold above 24,000 to extend the move towards 24,200 and 24,400 while support is placed at 23,900 then 23,800.
[00:02:13] Bad Nifty has to continue to hold above 52,250 for a low move towards 53,000 then 53,180 while on the downside support is placed at 52,222 then 52,000. And finally talking about the sectors and stocks to watch out, positive stance was seen in most
[00:02:33] of the sectors across the street. Stocks to keep on radar are IGL, MGL and Petronet from the gas sector which has been seeing follow up buying after the breakout. Kindalco is positioning well above its key exponential moving average. Apollo Tire
[00:02:51] holds strong from the auto and auto ancillary pack. Dixon, Persistent, OFSS and Tekken can be seen strong from the IT pack. Grasim from the cement stocks have witnessed renewed buying. Finally, Indus Starworth from the telecom space is on the radar and has formed a positive
[00:03:09] price pattern. Wish you a super trading day ahead. For more such detailed analysis, don't forget to follow this podcast. This is Shivangi Sarda signing off. Investment and securities market are subject to market risk. Read all the related documents carefully before investing.