In this episode, the host Shivangi Sarda discusses the volatile market reactions to the 2024 Lok Sabha election results.
And 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.
With 30+ years of equity expertise and dedicated advisors at your service, access investing opportunities in 550+ cities across 2200+ locations.
[00:00:00] Welcome to Indian Market in Minutes from the Motilal Oswal Research Desk. We will be covering technical and derivatives, FII's activity, index actionable sectors and stocks to watch out. So stay tuned till the end.
[00:00:25] Hey this is your host Shivangi Sardha and to start with our first segment for Wednesday, 5th June 2024. Nifty Index started on a negative note and slipped by around 1900 points during the day amidst the volatile scenario of 2024 Lok Sabha election results.
[00:00:44] It witnessed sound recovery towards the second half of the session but witnessed huge swings within a matter of length. It formed a big bearish candle on the daily frame with longer and lower shadow and closed with massive losses. India raked spiked to 26.75 levels.
[00:01:03] Volatility jumped around 31.5 zones and paved way for a smooth runway for the bears. Nifty put call ratio decreased to 0.73. Option data suggests a broader trading range in between 21,000 to 23,000 while immediate range is in between 21,500 to 22,500.
[00:01:27] Moving on to the second segment, in the equity cash market, FII's were net senders to the tier of 12,436 garals while DII's were sellers worth 3,319 garals. FII's indexed long short ratio decreased to 12.75%. Going ahead with the index actionable, derivative data and price setup suggests
[00:01:54] Till Nifty holds below 22,22 it may witness some more profit booking decline towards 21,600 than 21,300 while on the upside hurdles are seen at 22,22 and then 22,500. Till bank nifty holds below 47,77 more weakness could be seen towards 46,000 than 45,500 while on the upside hurdle is seen at 47,777 then 48,500.
[00:02:30] And finally talking about the sectors and stocks to watch out, positive stance was seen in FMCG stocks while all other witnessed profit booking. Stocks to keep on radar are from the FMCG space which could provide safety and stability in such scenario.
[00:02:48] Among this is Kohlpal, Mariko, Darber, Godrid, CP and Tata consumer. Selective auto stocks are also on radar which includes Hero Votocop. Consumption is also on focus which includes UBL and McDowell. Santini is also holding on to its gains.
[00:03:11] Wish you a great trading day ahead for more such detailed analysis don't forget to follow this podcast. This is Shivanki Sarda, signing off.