In today’s episode, we break down the latest market trends and actionable insights for traders. The Nifty index showed resilience, recovering from early losses to close positively, while global events, including Trump’s Davos speech, are influencing investor sentiment. We also cover key stocks to watch, sectors gaining momentum, and critical price levels for both Nifty and Bank Nifty.
Key Highlights:
- *Global Market Influence*: Strong US performance, Trump’s comments on interest rates and oil prices.
- *Market Analysis*: Nifty's recovery and key levels between 23000 and 23400.
- *Stock Picks*: Positive momentum in stocks like Coforge, Ultratech Cement, and M&M Finance.
- *Sector Focus*: Identifying stocks with strong potential and those showing weakness.
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[00:00:00] Welcome to Indian Market in Minutes from Motilal Oswal Research Dev. 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 Sardar and let's look at what happened globally.
[00:00:26] The market is expected to open on a positive note following a strong performance in the US market. This was driven by President Trump's remarks on the Davos meeting, which included calls for lower interest rates and reduced oil prices. However, intraday volatility remains a possibility due to concerns about continuous FII selling domestically.
[00:00:47] To start with our first segment for Friday 24 January 2025, Nifty index opened negative but witnessed recovery from the initial tick and bulls lifted the spirit of the index for most part of the day. It witnessed some swings above 23,200 marks followed by some profit booking in the last hour. It managed to close a tad bit above 23,200 with gains of around 50 points.
[00:01:11] It formed a bullish candle on the daily frame and is making higher lows from the last two trading sessions. India Wix was down by another 0.5% to 16.7 levels. Nifty put call ratio increased to 0.95. Option data suggests a broader trading range in between 22,800 to 23,700 zones, while immediate range is in between 23,000 to 23,400 marks.
[00:01:38] Moving on to the second segment in the equity cash market, FIIs were net sellers to the tune of 5,463 crores, while TIIs were net buyers worth 3,713 crores. FII's index long-shot ratio increased to 18.8%. Going ahead with the index actionable, Derivative Zeta and Price Setup suggest, till the time Nifty holds below 23,333,
[00:02:04] weakness could be seen towards 23,050 and 22,950 marks, while hurdles are placed at 23,500. Till the time Bank Nifty holds below 49,000, weakness could be seen towards 47,750, while on the upside, hurdle can be seen at 49,000 marks. And finally, talking about the sectors and stocks to watch out, positive setup can be seen in Coforge, Persistent,
[00:02:31] Ultratech, Cement, JK Cement, Emphasis, M&M Finance and Ayesha Motors, while some weakness could be seen in BPCL, Hoodco, HPCL, CG Power, Kolpal, Axis Bank and Power Grid. Wish you a super trading day and a lovely weekend ahead. Shivangi Sarada signing off. Follow this podcast for solid advice.