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.
[00:00:15] Hey, this is your host Shivangi Sarda and let's look at what happened globally.
[00:00:20] Market is anticipated to open on a flat-to-pot still note due to a solid recovery in the US
[00:00:25] markets, which rebounded from intraday lows following the Fed command on potential rate
[00:00:30] cuts.
[00:00:31] Recovery in global markets, the Fed signal of further rate cuts and strong FBI inflows
[00:00:36] are expected to boost market sentiment.
[00:00:39] India's increased weight in the global indices like MSCI and FTSE contributed to FBI inflows
[00:00:45] of 86,000 crores from July to September, the highest since December 2020.
[00:00:51] Now to start with our first segment for Tuesday 1st of October 2024, Nifty Index opened gap
[00:00:58] down by more than 100 points and cascaded throughout the day and fell by 340 points
[00:01:03] during the day.
[00:01:03] It took a slight breather at 25,800 and managed to close about the same with losses of around
[00:01:10] 360 points.
[00:01:12] It formed a bearish candle on the daily frame and broke its higher-heist formation or the
[00:01:16] last seven sessions out of account of profit booking at higher sold.
[00:01:21] Now, India's risk was up by 7% to 12.8.
[00:01:24] Nifty-Butkall ratio decreased to 0.84.
[00:01:28] Option data suggests a broader trading change in between 25,400 to 26,300 while immediate
[00:01:36] change is in between 25,600 to 26,100.
[00:01:41] Moving on to the second segment in the equity-gash market, FRIs were net sellers to the Tula
[00:01:47] 9,792 crores while DII's were buyers worth 6,646 crores.
[00:01:54] FRIs index long-short ratio marginally decreased to 80.8%.
[00:02:00] Going ahead with the index actionable, damages data and price that up-suggest, till Nifty holds
[00:02:06] below 25,850, sound weakness could be seen towards 25,650 then 25,500 while hurdles are placed
[00:02:15] at 26,150.
[00:02:18] Till the time bank Nifty holds below 53,33 so on which is the key retracement level, there
[00:02:24] could be some weakness towards 52,500 while at the upside, hurdle can be seen at 53,500.
[00:02:33] And finally talking about the sectors and stocks to watch out, profit booking was seen
[00:02:38] in most of the sectors across board but some of the key sectors are to be launched
[00:02:43] out for.
[00:02:44] Positive setup can be seen in some metal stocks which include NMDC, JSW Steel, Tata Steel and
[00:02:50] Hindal.
[00:02:51] Few of the oil and gas names are looking quite lucrative in this kind of market scenario
[00:02:56] which includes IGL, Gale and NTPC.
[00:02:59] From the banks and NBFCs we have AU Bank, Federal Bank and PEL.
[00:03:03] From consumption we have Britannia, Asian Paint, from the Farmer space, IPCA Labs
[00:03:09] look quite promising.
[00:03:10] Last but not least from the IT space, Coforge is holding on.
[00:03:14] While some weakness could be seen in Oro Farmer, Reliance, HTFC AMC, ICICI,
[00:03:21] Bandhin Bank, Emphasis, TENG M or BL Bank.
[00:03:25] So, kind of a mixed bag in a total.
[00:03:28] Wish you a super trading day ahead.
[00:03:30] Shivangi Sardar signing off.
[00:03:32] Follow this podcast for solid advice.
[00:03:48] Investment and securities market are subject to market risk.
[00:03:51] Read all the related documents carefully before investing.