In this episode of Indian Market in Minutes with Motilal Oswal, 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 Motilal Oswal Research Test. We will be covering technical and derivatives, SII's activity, index, actionable sectors and stocks to watch out. So stay tuned till the end.
[00:00:22] Hey, this is your host Shivam Glee Saarda and let's look at what happened globally.
[00:00:26] Market is expected to open flat due to mixed global backdrop ahead of the key US GDP data set to be released, along with major corporate earnings during this week and next week's US elections along with Fed's rate decision.
[00:00:43] To start with our first segment for Wednesday 30th October 2024, Nifty Index opened flattish and fell in the first couple of hours to later take support at 24,150 zones.
[00:00:55] It witnessed a pullback move thereafter and went on near 24,500.
[00:01:01] It formed a bullish candle on the daily frame and while it respected its previous day's lower zones, but it failed to cross 24,500 mark.
[00:01:10] India Wix was up by another 1.5% to 14.5 levels. Nifty Put-Call Ratio increased to 1.
[00:01:18] Option data suggests a broader trading range in between 24,000 to 25,000 zones, while the immediate range is in between 24,200 to 24,800.
[00:01:31] Moving on to the second segment in the equity cash market, FIIs were net sellers to the tune of 549 crores, while DIIs were buyers worth 730 crores.
[00:01:43] FIIs index long-shot ratio slightly decreased to 40%.
[00:01:48] Going ahead with the index actionable, derivatives data and price setup suggest, Nifty has to cross and hold above 24,500 for the next up move towards 24,600 then 24,750 marks, while supports can be seen at 24,150 zones.
[00:02:08] Bank Nifty has to continue to hold above 52,000 for a bounce towards 52,582 then 52,750 levels.
[00:02:18] While on the downside, support can be seen at 52,000 levels.
[00:02:22] And finally, talking about the sectors and stocks to watch out, positive setup can be seen in some of the banking names which witness short covering move, including Federal Bank, SBI, ICICI Bank, Bank of Baroda and COB.
[00:02:37] From the power finance, we have PFC and REC looking quite promising.
[00:02:42] From the exchange space, we have MCX and BSC witnessing fresh buying even at the higher zones.
[00:02:48] Last but not the least, from the IT space, we have Dixon and DePro looking quite good.
[00:02:53] While some weakness can be seen in Maruti, Tata Communication, Tata Motors, Hero Motor Corp, Dr. Reddy, Jubaline Foodbog and Indescent Pack.
[00:03:02] Wish you a super trading day ahead and check out our special Monet Trading Podcast which will be released later today.
[00:03:10] Shivant V. Saradhan signing off.
[00:03:12] Follow this podcast for solid advice.
[00:03:28] Investment and securities market are subject to market risk.
[00:03:32] Read all the related documents carefully before investing.
[00:03:34] Did you name that Andrew Leif and Indescent Pack?
[00:03:34] Read all the links for investing, to make the changes to the market.
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[00:03:35] Do we know the article about the article in Maruti?