In this episode of Indian Market in Minutes with Motilal Oswal, 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 Motilal Oswal Research Desk. We will be covering technical and derivatives, SII's activity, index, actionable sectors and stocks to watch out. So stay tuned till the end.
[00:00:21] Hey, this is your host Shivangi Sarda and let's look at what happened globally.
[00:00:26] Ahead of significant events in the US presidential elections and the Central Reserve's interest rate decision, the domestic equity market is expected to open on a flat note.
[00:00:37] To start with our first segment for Monday, 4th of November, 2024, Nifty Index opened flattish and dropped right from the initial hour of the day and tracked 24,200 zones on Thursday.
[00:00:51] It failed to cross 24,400 marks and remained rather dull for the session with some consolidation towards the end.
[00:00:58] It formed a small-bodied candle on the daily frame and India Wix has also risen by around 2.5% to 16 levels.
[00:01:08] Nifty put call ratio increased to 1.05.
[00:01:12] Now, option data suggests a broader trading range in between 23,800 to 24,600, while immediate range is in between 24,000 to 24,400.
[00:01:25] Moving on to the second segment in the equity cash market, FRIs were net sellers to the tune of 212 crores, while DIIs were also sellers worth 377 crores.
[00:01:38] FII's index long-shot ratio decreased to 22.5%.
[00:01:43] Going ahead with the index actionable, damages data and price setup suggest Nifty has to hold above 24,250 for an up move towards 24,450 levels, while supports can be seen at 24,000 zones.
[00:01:58] Till the time banned Nifty holds below 51,750, some weakness could be seen towards 51,000 zones, while hurdle can be seen at 52,000 levels.
[00:02:08] And finally, talking about the sectors and stocks to watch out, stock-specific approach should be there rather than talking about sector-specific.
[00:02:17] So, positive setup can be seen in very selective stocks like L&T, Aisha Motors, Tata Power, MCX, Max Financial, Atul, Obra Reality, IPCA, and Tata Chemicals.
[00:02:30] While weakness continues to be seen in IRCTC, Gale, Berger Pains, Gujarat Gas, GMR Airport, Bajaj Auto, Mariko, and Tata Consumer.
[00:02:42] Wish you a super trading day ahead.
[00:02:45] Shivangi Sardas signing off.
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