In today’s episode, we break down the latest market movements as global rallies set the stage for a positive open on the Nifty and Bank Nifty. With the US Federal Reserve's key interest rate decision looming, we dive deep into actionable market insights and stock picks you can’t miss!
Welcome to today’s episode of your daily market update! The Nifty index opened with a strong gap-up, but profit booking took over by the end of the session. Despite this, the market closed above 22950, signaling a potential recovery if key levels hold. In today’s show, we discuss the global market trends and what they mean for your trading strategy.
Key takeaways include:
- Nifty and Bank Nifty index breakdowns, highlighting key support and resistance zones.
- A look at FII and DII activity, with a focus on the equity cash market and index options.
- Actionable trading levels for Nifty and Bank Nifty based on derivative data.
- Sector insights and stock recommendations: M&M Finance, Bank of India, and Maruti look strong, while stocks like Petronet and JSW Energy are showing weakness.
For traders looking for a clear strategy, we've got you covered with the latest levels to monitor.
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[00:00:00] Welcome to Indian Market in Minutes from Motilal Oswal's research desk. We will be covering technical and derivatives, SII's activity, index, actionable sectors and stocks to watch out. So stay tuned till the end.
[00:00:13] Hey, this is your host Shivam Gisarda and let's look at what happened globally. The market is expected to open on a positive note due to a rally in the global markets ahead of the key US Federal Reserve interest rate decision.
[00:00:34] To start with our first segment for Wednesday, 29th January 2025, Nifty index opened cap up by almost 130 points and after the slight slip in the first tick, it recovered and bulls gradually lifted the spirits of the market. It went on to cross 23,100 but witnessed a steep profit booking decline in the last hour. It gave up most of its intraday gains but closed above 22,950.
[00:01:00] It formed a small bodied candle on the daily frame with longer upper shadow indicating pressure is intact at the higher zones. India Wix was marginally up to 18.2 levels. Nifty put call ratio increased to 0.95. Option data suggest a broader trading range in between 22,500 to 23,500 zones while immediate range is in between 22,800 to 23,200.
[00:01:27] Moving on to the second segment in the equity cash market, FIIs were net sellers to the tune of 4,921 crores while DIIs were buyers worth 6,814 crores. FIIs indexed long-shot ratio increased to 25%.
[00:01:45] Going ahead with the index actionable, derivatives data and price set-up suggest, till the time Nifty holds above 22,950, we could see recovery towards 23,150 and 23,333 marks, while supports can be seen at 22,800 and 22,650.
[00:02:05] Now, Bank Nifty has to hold above 48,500 for a bounce towards 49,250 then 49,500 while on the downside support can be seen at 48,500 zones. And finally, talking about the sectors and stocks to watch out, positive set-up can be seen in M&M Finance, TVS Motor, Bachaj Finance, PNB, Escorts, Ramko Cements, Bachaj Fincer and Maruti.
[00:02:33] While some weakness could be seen in Dixon, CDSL, Federal Bank, Nalco and Bhel. Wish you a super trading day ahead. Shivangi Sarda signing off. Follow this podcast for solid advice.