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.
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[00:00:00] Welcome to Indian Market in Minutes from the Motilal Oswal Research Test. We will be covering technical and derivatives FII's activity, index actionable sectors and stocks to watch out. So stay tuned till the end.
[00:00:15] Hey this is your host Shivanki Sardar and before we begin let me bring to you something really interesting. We will be having a special episode on Shridane with a distinguished market expert where we will cover DonoGadeta and what's the outlook for July. So stay tuned for this one.
[00:00:42] To start with our first segment for Thursday 27 June 2024, Nifty index opened flat-ish and bullish draw wig to touch a fresh all-time high of 23,089 levels. Follow-up action was seen strong across the board and Nifty has been trading upwards to move by 50 points in the last three sessions.
[00:01:04] India wigs was down by around 2% to 14 levels. Lower volatility is comforting the bulls at higher zones. Nifty put call ratio settled at 1.31. Fall in volatility along with higher put call ratio suggests momentum or the upside should continue with strong support base buying.
[00:01:23] Option data suggests a broader trading range in between 23,700 to 24,000 levels ahead of the monthly expiry. Moving on to the second segment in the equity cash market, FIIIs were net centers to the Tura 3,535 crores while DIIs were buyers worth 5,104 crores. FIIIs index long-shot ratio increased to 67%.
[00:01:50] Going ahead with the index actionable, derivatives data and price setup suggests Nifty has to continue to hold above 23,750 to extend the move towards 24,000 and 24,150 whereas supports are placed at 23,650 then 23,550. Bank Nifty has to continue to hold above 52,500, forward up move towards the new lifetime high of 53,250 then 53,500.
[00:02:22] While on the downside support is placed at 52,400 then 52,200. And finally talking about the sectors and stocks to watch out, positive stands were seen in banking, telecom services, cement and construction and selective pharma sector while some minor softness in auto, metal, IT and consumer durable names.
[00:02:45] Now stocks to keep on radar are ICICI Bank and Axis Bank of course with the band Nifty at lifetime high levels and heavyweights providing strength. A catch-up rally can be seen here after a long consolidation and these stocks are to benefit.
[00:03:01] Party Aidell can be seen with a breakout and consistently moving upwards which makes a low space for the upside. From the pharma space we have BioCord and Grand Worlds, Godrid CP has bounced back after touching its 50 daily exponential moving
[00:03:17] average and finally the cement space which was the star performer which includes Grasseem and Janko, which you are super trading day ahead. For more such detailed analysis don't forget to follow this podcast. This is Shivani Sardar, Siding Off. Investment and securities market are subject to market risk.
[00:03:48] Read all the related documents carefully before investing.