The market opened on a flat to negative note as FIIs continued selling, coupled with hawkish Federal Reserve comments and a soaring US Dollar Index at a two-year high.
This episode breaks down:
- Nifty's movement: Key levels, support, and resistance to watch.
- Sector and stock-specific analysis: Bullish setups in IPCA Labs and Dr. Reddy, while weakness prevails in Bajaj Finserv and Tata Motors.
- Options & Derivatives insights: What Put Call Ratio and trading ranges indicate.
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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.
[00:00:05] We will be covering technical and derivatives, SII's activity, index, actionable sectors
[00:00:10] and stocks to watch out.
[00:00:12] So stay tuned till the end.
[00:00:36] The $1,000 index has reached a 2-year high.
[00:00:39] To start with our first segment for Friday, 20th December 2024,
[00:00:44] Lifty Index opened gap down by 320 points and slipped to 23,870 marks in the first half of the session,
[00:00:52] which was followed by some recovery and consolidation.
[00:00:55] It formed a small-bodied bullish candle on the daily frame with longer upper shadow
[00:00:59] and has been making lower lows from the last four trading sessions.
[00:01:04] India Wix was up by around 1% to 14.5 zones.
[00:01:08] Nifty put-call ratio increased to 0.91.
[00:01:12] Quite a jump.
[00:01:13] Option data suggests a broader trading range in between 23,400 to 24,400,
[00:01:20] while immediate range is in between 23,700 to 24,200.
[00:01:26] Moving on to the second segment in the equity cash market,
[00:01:29] FII's were net sellers to the tune of 4,225 crores, while DII's were buyers worth 3,943 crores.
[00:01:39] FII's index long-shot ratio decreased to 32.5%.
[00:01:43] Going ahead with the index actionable,
[00:01:45] Derivative Zeta and Price Setup suggest,
[00:01:48] till the time Nifty holds below 24,000,
[00:01:51] Weakness could be seen towards 23,850 and 23,500,
[00:01:56] while HODL can be seen at 24,350.
[00:02:00] Till the time Bank Nifty holds below 51,750,
[00:02:04] some weakness could be seen towards 51,250 and then 50,750,
[00:02:10] while HODL is placed at 52,000 zones.
[00:02:14] Finally, talking about the sectors and stocks to watch out,
[00:02:17] positive setup can be seen in IPCA Lab,
[00:02:20] Abbott, Dr. Reddy,
[00:02:23] Torrent Pharma,
[00:02:24] OFSS,
[00:02:24] CoForge,
[00:02:25] Persistent Systems
[00:02:26] and Indian Hotel,
[00:02:28] while weakness could be seen in Cummins,
[00:02:30] Adani Green,
[00:02:31] Ashok Leyland,
[00:02:32] Tata Motors,
[00:02:33] Escort,
[00:02:34] Bharat Forge,
[00:02:35] Asian Paint,
[00:02:36] Burjur Paint,
[00:02:37] Bachaj,
[00:02:38] FinServ and Nestle.
[00:02:39] Wish you a super trading day ahead.
[00:02:42] Shivangi Sardar signing off.
[00:02:43] Follow this podcast for solid advice.