Global cues and FII selling are shaking up markets. Nifty slipped below 24,300 as bears took charge—here’s what it means for you. 🚀"
In this episode of Indian Market in Minutes, Shivangi Sarda unpacks the latest market developments:
- The Nifty's steep 330-point fall—what's driving it and key technical levels to watch.
- Federal Reserve’s upcoming interest rate decision and its impact on global markets.
- Sector and stock-specific trends: bullish setups in Oberoi Realty, Zomato, and Coforge, plus weak signals in LIC Housing Finance, Adani Enterprise, and Tata Consumer.
- Actionable strategies for traders: Key support, resistance zones, and index setup insights for Nifty and Bank Nifty.
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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.
[00:00:15] This is your host Shivangi Sarda and let's look at what happened globally.
[00:00:26] Market is expected to open slightly lower due to the weakness in global markets ahead of the US interest rate decision and concerns about FII selling.
[00:00:35] Dow Jones fell for the ninth consecutive session marking its longest losing streak since 1978 as investors await the Fed results, anticipated rate decision and its outlook for the next year.
[00:00:49] To start with our first segment for Wednesday 18th December 2024, Nifty Index opened negative and cascaded throughout the session and slipped below to 24,300 levels.
[00:01:00] Bears had complete control over the index right from the opening tick and it closed with losses of around 330 points.
[00:01:07] It formed a bearish candle on the daily frame and has been making lower lows from the last two trading sessions.
[00:01:14] India Wix was up by around 3.3% to 14.5 zones.
[00:01:19] Nifty put call ratio decreased to 0.65.
[00:01:21] Option data suggests a broader trading range in between 23,900 to 24,800 while immediate range slips below to 24,100 to 24,600.
[00:01:36] Moving on to the second segment in the equity cash market, FII's were net sellers to the tune of 6,410 crores while DII's were buyers worth 2,706 crores.
[00:01:49] FII's index long-shot ratio decreased to 36%.
[00:01:54] Going ahead with the index actionable, debitives data and price setup suggest, till the time Nifty holds below 24,500, weakness could be seen towards 24,000 levels, while hurdles can be seen at 24,500.
[00:02:09] Till the time Bank Nifty holds below 53,000, some weakness could be seen towards 52,250, while hurdle can be seen at 53,000.
[00:02:19] And finally, talking about the sectors and stocks to watch out, positive setup can be seen in Obra Realty, Lodha, Prestige Estate, MCX, Dixon, BSC, Zomato and Coforge.
[00:02:34] While weakness can be seen in LIC Housing Finance, MCL, Bandhan Bank, TBS Motor, Escorts, Hero Motor Corp and Indusin Bank.
[00:02:42] Wish you a super trading day ahead.
[00:02:45] Shivangi Sardar signing off.
[00:02:46] Follow this podcast with solid advice.
[00:03:02] Investment and securities market are subject to market risk.
[00:03:05] Read all the related documents carefully before investing.
[00:03:08] Thank you for listening.