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.
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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 Shivangi Sarda and let's look at what happened globally.
[00:00:26] The market is expected to open positively due to a rally in the global markets.
[00:00:30] The US 10-year bond yield has dropped to a one-month low of 4.2%, fueled by hopes of a potential interest rate cut by the US Fed Reserve.
[00:00:40] Additionally, domestic GST collections have surged past Rs 1.9 lakh crores, monthly auto sales in November were quite impressive and oil prices have fallen to a one-month low of $72 per barrel.
[00:00:53] To start with our first segment for Monday, 2nd December 2024, Nifty Index opened flattish and witnessed buying in the initial hour of the session, which was followed by consolidation later.
[00:01:06] It formed a bullish candle on the daily frame and closed with gains of around 220 points.
[00:01:11] It formed a small-bodied bearish candle on the weekly frame but with longer lower shadow, which indicates support-based buying is intact and negated its lower top, lower bottom formation.
[00:01:21] India WIX was down by around 5% to 14.4 levels.
[00:01:26] Nifty put-call ratio increased to 1.08.
[00:01:30] Option data suggests a broader trading range in between 23,600 to 24,600 zones, while immediate range is in between 23,900 to 24,400.
[00:01:43] Moving on to the second segment in the equity cash market, FIIs were net sellers to the tune of 4,384 crores, while DIIs were buyers worth 5,723 crores.
[00:01:57] FIIs' index long-short ratio increased to 33%.
[00:02:00] Going ahead with the index actionable, DevTest data and price setups suggest Nifty has to hold above 24,000 for an up move towards 24,350, then 24,500, while support can be seen at 23,850 marks.
[00:02:16] Bank Nifty has to hold above 52,000 for a bounce towards 52,750, while a hold below the same could see some weakness towards 51,500.
[00:02:27] And finally, talking about the sectors and stocks to watch out, positive setup can be seen in Bharti Airtel, Ramko Cement, DV's Lab, Polycab, Shree Cement, CUB, United Spirits and Persistence Systems.
[00:02:42] While weakness could be seen in Kolpal, HDFC Life, RBL Bank, L&T Finance, Bank of Baroda, Godrich Consumer Products, Hero Moto Corp and Tata Power.
[00:02:53] Wish you a super trading day and a lovely week ahead.
[00:02:56] Shivangi Sardar signing off.
[00:02:58] Follow this podcast for solid advice.
[00:03:13] Investment and securities market are subject to market risk. Read all the related documents carefully before investing.