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. We will be covering technical and derivatives FII's activity, index actionable sectors and stocks to watch out. So stay tuned till the end.
[00:00:24] Here this is your host, Shivangi Sardar and to start with our first segment for Thursday 4th of July 2024, Nifty Index opened positive at a new high and after slight profit booking in the first couple of hours, it recouped its interday losses to touch a fresh all-time high of 24309.
[00:00:44] It gave the highest ever daily close and close near its lifetime high zones with gains of around 160 points. It formed a bullish candle on the daily frame and has been making higher lows from the last seven sessions. Intervix was down by around 3.2% to 13.2%.
[00:01:02] More volatility is converting the bulls to drive the index at higher zones. Nifty put call ratio rose to 1.24%. Now this fall in volatility along with rising PCR suggests that momentum is to continue on the upside. Option data suggests a broader trading range in between 23900 to 24500 while immediate
[00:01:26] range is in between 24100 to 24400. Moving on to the second segment in the equity cash market, FII's were net buyers to the tune of 5484 kros while DII's were sellers worth 924 kros. FII's indexed long short ratio increased to 83.6% which is at its highest level since May 2021.
[00:01:54] Going ahead with the index actionable, derivatives data and price setup suggests Nifty has to hold above 24200 to extend the move towards 24400 and 24500 while support is placed at 24200 then 24000 level. Bank Nifty has to continue to hold about 52750 for an up move towards 53250 then 53750
[00:02:21] while on the downside support is placed at 52750 then 52500. And finally talking about the sectors and stocks to watch out, positive stance was seen in most of the sectors across board mainly banking and IT being or the limelight.
[00:02:39] The stocks to keep on radar are from the defense sector which is roding and momentum is clearly visible in most of these stocks which include HAL and BEL. Now from the power and power finance stocks we have PFC, REC and Power Grid which are looking quite positive.
[00:02:56] Persistent OFSS emphasis and emphasis from the IT names which have recently turned higher from support zones and started to witness positive stance. And last but not least, starter consumer is on the card. Wish you a super trading day ahead for more such detailed analysis don't forget to
[00:03:14] follow this podcast. This is Shivani Sardar signing off.