Global Market Rally: Key Stock Picks & Nifty Analysis for January 23, 2025*
In this episode, we dive into the global market trends and actionable insights for today’s trading. With record-high closings in both US and European markets and strong domestic earnings, there’s optimism in the air. However, challenges like global trade concerns and FII selling could influence market sentiment.
*Key Highlights:*
- *Market Outlook:* Positive open expected, supported by US/European rallies, falling oil prices, and strong earnings from companies like HUL, Tata Communications, and HDFC Bank.
- *Intraday Volatility:* While optimism prevails, intra-day fluctuations due to trade war concerns and continued FII selling could impact short-term market behavior.
- *Technical Analysis:* Nifty shows a bullish pullback, respecting lower levels while maintaining key support and resistance zones.
- *Sector Focus:* Stocks like Wipro, Muthoot Finance, and Bajaj Finance show positive setups. Watch out for weakness in ICICI Prudential, Lodha, and Persistent Systems.
- *Market Data:* FII selling continues, but DIIs remain active buyers. Nifty range seen between 22,700 to 23,600.
*Actionable Takeaways:* For today’s trade, monitor key levels in Nifty (23,200) and Bank Nifty (49,000). Look out for stock opportunities in both bullish and bearish sectors.
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[00:00:00] Welcome to Indian Market in Minutes from Motilal Oswal's 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. Hey, this is your host Shivangi Saadha and let's look at what happened globally.
[00:00:26] Market is expected to open on a flat-to-positive note due to record high closings in both the US and European markets along with improved quarterly results from the domestic companies. Optimism surrounding a favourable union budget, falling oil prices and strong domestic buying interests could further support the market. Companies such as HUL, Persistent Systems, Hoodco, Tata Communications and HDFC Bank reported impressive earnings.
[00:00:52] However, intraday volatility remains a possibility due to concerns about the global trade war and continued FII selling. They have been net sellers to the tune of over 60,000 crore this month so far, which could dampen the market sentiment. To start with our first segment for Wednesday 23rd January 2025, Nifty Index opened positive and gave up strength from the second hour itself, which was followed by recovery in the next half.
[00:01:18] It has respected its previous day's low and took a relief there and recouped its intraday losses to manage to close above 23,150 zones with gains of around 130 points. It formed a small-bodied bullish candle with longer lower shadow indicating pullback from the lower levels. India WIX was down by around 1.6% to 16.8 levels. Nifty put-call ratio increased to 0.88.
[00:01:44] Option data suggests a broader trading range in between 22,700 to 23,600, while immediate range is in between 22,900 to 23,300 levels. Moving on to the second segment in the equity cash market, FIIs were net sellers to the tune of 4,026 crores, while DIIs were buyers worth 3,640 crores. FII's index long-shot ratio increased to 17.5%.
[00:02:15] Going ahead with the index actionable, derivatives data and price set-up suggest, till the time Nifty holds below 23,200, weakness could be seen towards 22,950 and 22,800 zones, while hurdles are placed at 23,200 then 23,333 marks.
[00:02:34] Till the time bank Nifty holds below 49,000, weakness could be seen towards 48,250 and 47,750 marks, while on the upside, hurdle can be seen at 49,000 and 49,250. And finally, talking about the sectors and stocks to watch out, positive set-up can be seen in Wipro, Muthuth Finance, Maruti, Manapuram Finance, Bachaj Finance, Bachaj FinServ, Berger Paint, Kotak Bank and Britannia.
[00:03:03] While some weakness could be seen in Lodha, Obra Realty, India Mart, CAMS, Oil, Persistent Systems, CG Power and DLF. Wish you a super trading day ahead! Shivangi Sarada signing off. Follow this podcast for solid advice.