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 Test.
[00:00:05] We will be covering technical and derivatives, SII's activity, index, actionable sectors and stocks to watch out.
[00:00:12] So stay tuned till the end.
[00:00:15] Hey, this is your host Shivangi Sardha and let's look at what happened globally.
[00:00:26] The market is expected to open on a positive note driven by a record high closing in the US markets,
[00:00:32] mixed performance in the Asian markets and strong domestic factors.
[00:00:36] Now these strong domestic factors include tax collections, mixed quarterly results and solid local fund buying should provide support to the market sentiment.
[00:00:45] Now to start with our first segment for Tuesday, 12th November 2024, Nifty Index opened negative but bulls took over in the initial couple of hours
[00:00:55] which was followed by wiping off its intraday gains.
[00:00:59] It dropped to 24,000 levels and has been making lower dose from the last three trading sessions.
[00:01:04] It slightly recovered in the last hour and managed to close near 24,150 levels.
[00:01:11] But it did form a doji sort of a candle and an outside bar which indicates that intercessiveness and tug of war between the bulls and bears are present.
[00:01:20] Now India Wix was down by another 1.5% to 14.3 levels.
[00:01:26] Nifty put call ratio remains unchanged at 0.91.
[00:01:29] Option data suggests a broader trading range in between 23,700 to 24,600 while immediate range is in between 23,900 to 24,400.
[00:01:42] Moving on to the second segment in the equity cash market.
[00:01:46] FIIs were net sellers to the tune of 2,307 crores while DIIs were buyers worth 2,027 crores.
[00:01:55] FIIs index longshot ratio increased to 24.5%.
[00:01:59] Going ahead with the index actionable,
[00:02:03] Demetrius data and price setup suggest,
[00:02:05] Till Nifty holds below 24,150, some weakness could be seen towards 24,000, then 23,850,
[00:02:13] while hurdles are placed at 24,350 and 24,500.
[00:02:18] Bank Nifty has to hold above 51,750 for a bounce towards 52,500 levels,
[00:02:25] while a hole below the same could see weakness towards 51,250 so on.
[00:02:30] And finally, talking about the sectors and stocks to watch out,
[00:02:34] positive setup can be seen in some of the IT names which includes
[00:02:37] OFSS, Infosys, TechM, TCS, Wipro, Persistent and Coforge,
[00:02:43] which are one of the strongest in the entire market.
[00:02:46] Now from the banking space, we have HDFC Bank,
[00:02:50] Axis Bank and ICICI Bank witnessing fresh buying.
[00:02:53] From the power space, we have PFC and PowerTrade looking quite positive.
[00:02:57] While some weakness could be seen in Bandhan Bank, Titan,
[00:03:01] Inu Bank, Rasim, Lupin, SPI Card, NDPC, Coldpal and IES.
[00:03:06] Wish you a super trading day ahead.
[00:03:09] Shivandi Sardar signing off.
[00:03:11] Follow this podcast for solid advice.
[00:03:26] Investment and securities market are subject to market risk.
[00:03:30] Read all the related documents carefully before investing.