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.
With 30+ years of equity expertise and dedicated advisors at your service, access investing opportunities in 550+ cities across 2200+ locations.
[00:00:00] Welcome to Indian Market in Minutes from the Motilal Oswal Research Desk.
[00:00:15] Hey, this is your host, Shivangi Sardha and let's look at what happened globally.
[00:00:20] Despite a slightly lower closing for US stock as investors await key economic data and indications of upcoming interest rate cuts expectations.
[00:00:29] Now today's focus will be on the US Fed, Chair, Speech along with US GDP and jobless claims data.
[00:00:35] To start with our first segment for Thursday 26th of September 2024, Nifty index opened positive and slipped slightly below its opening zone in the first half of the session.
[00:00:46] But bulls were seen in strong action by the last hour and it hit a fresh all-time high of 26,032 marks.
[00:00:55] It closed with gains of around 70 points and gave the highest ever close above 26 game marks.
[00:01:00] It formed a bullish handle of the daily frame and has been forming higher highs from the last five sessions.
[00:01:06] Now India mix was down by around 5% to 12.7 levels. Nifty put call ratio increased to 1.33.
[00:01:15] Now this increase in the put call ratio along with the cooling off of the volatility comforts the bulls.
[00:01:21] Option data suggests a broader trading range in between 25,700 to 26,400 while immediate range is in between 25,900 to 26,200.
[00:01:33] Moving on to the second segment in the equity cash market, FIIIs were net sellers to the tier of 974 keros.
[00:01:42] While DIIs were buyers worth 1,779 keros.
[00:01:46] FIIIs index long short ratio increased to 75%.
[00:01:50] Going ahead with the index actionable, derivatives data and price setup suggests
[00:01:56] Nifty has to hold above 25,950 for an up move towards 26,150 then 26,350
[00:02:04] while support supply is at 25,850 then 25,750.
[00:02:10] Bank Nifty has to hold above 5,300750 for an up move towards 5,400247 then 5,400716 marks
[00:02:19] while on the downside support can be seen at 5,300750 levels.
[00:02:24] And finally talking about the sectors and stocks to watch out,
[00:02:28] positive stance was seen in reality, utility, selective metals and farmer space
[00:02:34] while some minor profit booking in FMCG and IT stocks.
[00:02:38] Now stocks to keep on radar, positive setup can be seen in some of the reality space stocks
[00:02:43] which includes Co-Otridge properties, Obdrae reality and DLF.
[00:02:48] From the power pack we have Power Grid, Auto and Auto-Alzidie pack is looking quite positive
[00:02:54] which includes M&M escorts and Apollo tyre.
[00:02:57] From the banking space we have Axis Bank from Metal, Indalco and Data Steel can be on the focus.
[00:03:03] NPFC is also looking quite positive which includes M&M finance and Pacharge finance.
[00:03:09] From the capital goods space we have ABB and Siemens but unless and what not the least
[00:03:14] from the FMCG pack we have ITC.
[00:03:17] Now some weakness could be seen in Dabur, PNB, RBL Bank, Loris Lab, Indiamurad and Data Motors.
[00:03:25] Wish you a super trading day ahead, Shivangi Sarada signing off.
[00:03:29] Follow this podcast for solid advice.
[00:03:45] Investment and securities market are subject to market risk.
[00:03:48] Read all the related documents carefully before investing.