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 Day.
[00:00:06] Hey, this is your host Shivangi Sarada and let's look at what happened globally across the market.
[00:00:19] I anticipated to open on a little weak note due to concerns over ongoing selling by the FIIs and disappointing growth forecasts from Bajaj Auto for the festival season which is dampening the overall sentiment.
[00:00:32] To start with our first segment, for Friday 18th October 2024, Nifty Index opened positive above 25,000 marks but witnessed a steep sell-off in the first hour itself.
[00:00:45] It was followed by the domino effect throughout the session and dropped by 300 points from its highs.
[00:00:50] It gave a breakdown of the head and shoulder pattern on the daily frame and closed with losses of around 200 points.
[00:00:57] It formed a bearish candle and has been making lower lows from the last three trading sessions.
[00:01:02] Itia mix was up by another 2.5% to 13.4 levels.
[00:01:07] Nifty put call ratio slightly increased to 0.88 due to the expiry effect.
[00:01:12] OptiNata suggests a broader trading range in between 24,300 to 25,300 levels, while immediate range is in between 24,500 to 25,000 levels.
[00:01:24] Moving on to the second segment in the equity cash market, FIIs were net sellers to the tune of 7,421 crores, while DIIs were buyers worth 4,980 crores.
[00:01:39] FIIs index long-shot ratio decreased to 33%.
[00:01:43] Going ahead with the index actionable, derivatives data and price setups suggest, till Nifty holds below 24,850, weakness could be seen towards 24,650 and 24,500 zones, while hurdles are placed at 24,850 then 25,000 zones.
[00:02:03] Till the time bank Nifty holds below 51,650, weakness could be seen towards 50,500, while hurdles are placed at 51,500 levels.
[00:02:14] And finally, talking about the sectors and stocks to watch out, profit booking was seen across board in all the sectors.
[00:02:22] Now, positive stance can be seen in selective IT names, which includes Emphasis, Infosys, TechM, CoForge and HCL Tech.
[00:02:31] From the banking space, SBI is looking quite lucrative.
[00:02:34] While some weakness could be seen in Bajraj Auto, Habels, Biel, TataComb, RBL Bank, Hero Motor Corp, Kolpal, Buja Cement, Jindal Steel, Adratech, RT, Maruti, Ashok Leland and IGL.
[00:02:49] Wish you a super trading day and a lovely weekend ahead.
[00:02:53] Shivangi Sardar signing off.
[00:02:54] Follow this podcast for solid advice.
[00:03:10] Investment and securities market are subject to market risk.
[00:03:14] Read all the related documents carefully before investing.