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.
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 Motilal Oswal Research Test. 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 Sarada and let's look at what happened globally.
[00:00:26] The market is likely to open marginally lower today, reflecting concerns over weak global markets, rising domestic inflation and a stronger US dollar.
[00:00:36] Inflation in India has hit a 14-month high while global worries about potential US tariff hikes and upcoming inflation data in the US are adding pressure.
[00:00:46] To start with our first segment for Wednesday, 13th November 2024, Nifty Index opened positive but failed to hold its opening gains and drifted lower with intensity.
[00:00:57] It cascaded throughout the day and fell to a low of 23,839 levels and closed with losses of around 260 points.
[00:01:07] It formed a bearish candle on the daily frame and has been making lower lows from the last four trading sessions.
[00:01:13] India Wix was up by another 2.5% to 14.5 levels. Nifty put-call ratio decreased to 0.72. These indicate bears were in complete comfort.
[00:01:24] Option data suggest a broader trading range in between 23,500 to 24,300 zones while immediate range is in between 23,700 to 24,100.
[00:01:38] Moving on to the second segment in the equity cash market, FIIs were net sellers to the tune of 3,024 crores while DIIs were buyers worth 1,854 crores.
[00:01:51] FIIs indexed long-shot ratio decreased to 24%.
[00:01:55] Going ahead with the index actionable, Debitives data and price setup suggest, till the time Nifty holds below 23,900,
[00:02:04] weakness could be seen towards 23,500 levels, while hurdles are placed at 24,200.
[00:02:11] Till the time Bank Nifty holds below 51,250, weakness could be seen towards 50,250 levels, while on the upside hurdle can be seen at 51,750 marks.
[00:02:24] And finally talking about the sectors and stocks to watch out, stocks to keep on radar, positive setup can be seen in some of the IT names which includes Infosys, HCL Tech, TCS, CoForge and LTI.
[00:02:36] From the Pharma space, we have IPCA Labs and Metropolis looking quite positive.
[00:02:41] From the Cement space, we have Ramco Cement witnessing good amount of shot covering move.
[00:02:46] While some weakness could be seen in Britannia, Bosch, Gale, Tata Power, Siemens, Daveen Florine, Bheel, Boltas, ABB, NMDC, Sun TV, Vedanta, India Mart and Tata Motors.
[00:03:00] Wish you a super trading day ahead.
[00:03:03] Shivangi Sardar signing off.
[00:03:05] Follow this podcast for solid advice.