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 FIIs activity, index actionable, sectors and stocks to watch out. So stay tuned till the end.
[00:00:24] Hey this is your host Shivalini Sardar and to start with our first segment for Monday 1st July 2024, Nifty Invex Open Positive and after touching a fresh high of 24,174, it witness some profit-booking but held on to its support zones.
[00:00:41] It has been consistently trending higher from the start of the week and gave the highest ever weekly glow. It formed a small bodied bearish candle on the daily frame but a bullish candle on the weekly frame with higher highest formation from the last 6 weeks.
[00:00:57] It had a weak Swiss down by around 2.5% to 13.8 levels. Comparatively lower volatility is comforting the bulls to drive the index at higher zones. Nifty Put Call Ratio fell to 1.17. Now Fallen volatility along with settling down put call ratio suggests that momentum is on the upside with support-based buy.
[00:01:18] Option data suggests a drawdown trading range in between 23,500 to 24,500 while immediate trade is in between 23,700 to 24,000 levels. Moving on to the second segment in the equity cash market, FII's were net sellers to the tune of 23 crores while DII's were buyers worth 6,658 crores.
[00:01:45] FII's indexed loan short ratio increased to 82.5%. Going ahead with the index actionable, derivatives data and price setup suggest Nifty has to hold above 24,000 to extend the move towards 24,200 then 24,400 whereas the boats are placed at 23,800 then 23,700. Bank Nifty has to continue to hold above 52,250, foreign up move towards 52,750 then 53,180
[00:02:20] while all the downside support is placed at 52,000 then 15,750. Finally talking about the sectors and stocks to watch out, Positive Stance was seen in Pharma, IT, FMCG and Fertilizer Bank while some profit taking in media, consumer derivatives and wide good space.
[00:02:41] The stocks to keep on radar are Indalco which is positioning well above its key exponential moving average. Moving on to auto and auto-anslity space is gearing up with a fresh breakout in Apollo Tyres. Dixon is one of the strongest IT names and consistently shifting its base
[00:03:00] on the higher zone. Another one is from the Pharma space Dr. Reddy where we can see fresh follow up buying and surpassed its previous hurdle zones at 6420. Quadritch property is making higher highs on the weekly basis. Moving on to the cement path we've witnessed renewed buying here
[00:03:19] and looking strong is Grassy. Adding to this is IGL, MGL and Petronet from the gas sector which has given a fresh breakout. Wish you a super trading day and a lovely week ahead. For more such detailed analysis, don't forget to follow this podcast.
[00:03:35] This is Shivaji Sarda signing off. Investment and securities market are subject to market risk. Read all the related documents carefully before investing.