In today’s episode of Indian Market in Minutes from Motilal Oswal Research Desk, host Shivangi Sarda Malpani brings you everything you need to know from the world of finance.
Markets witnessed a strong rebound as Nifty opened gap up by around 120 points and after a brief dip in the initial hour, buying momentum accelerated from the 23,420 zone pushing the index sharply higher towards 23,777 levels. FIIs turned marginal net buyers with inflows of ₹188 Cr, while DIIs also remained supportive with buying worth ₹684 Cr.
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[00:00:00] Welcome to Indian Market in Minutes from Motilal Oswal Research Dev. We will be covering technical and derivatives, SII's activity, index, actionable sectors and stocks to watch out. So stay tuned till the end.
[00:00:36] The market was a big deal from 23,420 and escalated to 23,777. It witnessed some consolidation towards the end but close with gains of around 300 points. It formed a bullish candle on the daily frame and negated its lower top lower bottom formation of the last four sessions. India Wix was down by around 4.2% to 18.6 levels. Nifty put call ratio increased to 1.17.
[00:01:02] Option data suggests a broader trading range in between 23,200 to 24,200 marks, while immediate range could be in between 23,400 to 23,900 levels. Moving on to the second segment, in the equity cash market, FIIs were buyers to the tune of 188 crores, while DIIs were buyers worth 684 crores.
[00:01:29] FII's index long-short ratio increased to 11.9%. Going ahead with the index actionable, debatives, zeta and price setup suggest, Nifty has to hold above 23,650 for the next up move towards 24,000 levels. While on the downside, support can be seen at 23,450 marks.
[00:01:53] Bank Nifty has to hold above 54,000 for the next up move towards 54,500 and 54,750, while support can be seen at 53,500. And finally, talking about the sectors and stocks to watch out, positive setup can be seen in Cibla, Zydis, Bharti Airtel, Betanta, MCX, BSC, Loris Labs and NAM India.
[00:02:20] While some weakness could be seen in Keynes, Tube Investments, Persistent, Noopama, Infosys, Tech Mahindra, TCS and Dalmia Bharat. Wish you a super day ahead. Shivangi Sadha Malpani signing off. Follow this podcast for solid advice. Thank you.
[00:02:54] Thank you.