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 the Motilal Oswal Research Desk. We will be covering technical and derivatives, FYI's activity, index actionable, sectoral stocks to watch out. So stay tuned till the end. Hey this is your host Shivangi Sardar and to start with our first segment for Wednesday,
[00:00:28] 31st July 2024, Nifty Index opened flatish and after a slight rise in the initial half of the session, it later gave up its tad bit gains. It moved in a range of around 170 points throughout the day and closed above 24,815.
[00:00:44] It formed a small body bullish candle and an inside bar on the daily frame. India wicks with stouts slightly to 12.8 levels. Nifty put call ratio increased to 1.23. Now overall lower volatility with rising put call ratio suggests that bullish stance to continue in the market.
[00:01:02] Option data suggests a broad out trading range in between 24,500 to 25,200 while immediate range is in between 24,700 to 25,000. Moving on to the second segment in the equity cash market, FYI's were net sellers to the Tuerlock 5,599 crores while DII's were buyers worth 5,565 crores. FYI's indexed long short ratio increased to 66%.
[00:01:31] Going ahead with the index actionable, derivatives data and price setup suggests Nifty has to hold 24,750 for the next up move towards 25,000 and 25,150 while support is placed at 24,750 and 24,600 levels. Bank Nifty has to continue to hold above 51,250 for a bounce towards 52,000 then 50,350
[00:01:57] while on the downside support is seen at 51,250 then 51,000 zones. And finally talking about the staked dozen stocks to watch out, positive stance was seen in utility, banks, chemicals, reality and some auto names while some profit taking in pharma, general industries and selective IT names.
[00:02:19] Now stocks to keep on redar, Colgate, Trent, HPCL, VPCL, Skoll India, CUB, DNF, GNFC, IEX and Maruti are looking quite positive in such kind of market scenario. Now major trend of the index is positive but stock specific action could continue.
[00:02:39] Wish you a super trading day ahead for more such detail and analysis don't forget to follow this podcast. This is Shivanki Sarda signing off. Investment and securities market are subject to market risk. Read all the related documents carefully before investing.