In this episode of Indian Market in Minutes with Motilal Oswal, 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 Shivagli Sardha and let's look at what happened globally.
[00:00:26] The market is expected to open slightly lower due to weak global trends following a mixed bag of US economic data and lower than anticipated quarterly results from tech giant Microsoft.
[00:00:39] To start with our first segment for Thursday, 31st October 2024, Nifty Index opened negative but recovered in the first half of the session.
[00:00:48] However, it failed to hold at higher zones and drifted lower later to close with losses of around 130 points.
[00:00:56] It has failed to cross 24,500 zones from the last five trading sessions and follow-up is missing despite support-based buying.
[00:01:06] It has formed a small-bodied bearish candle on the daily frame but the good part is that it has been making higher
[00:01:12] the market for the last three trading sessions.
[00:01:15] Itavix was up by around 7% to 15.5 levels. Nifty put call ratio decreased to 0.91.
[00:01:23] Option data suggests a broader trading range in between 24,000 to 24,800 while immediate range is in between 24,100 to 24,600.
[00:01:36] Moving on to the second segment in the equity cash market,
[00:01:40] FIIs were net sellers to the tune of 4,614 crores while DIIs were buyers worth 4,518 crores.
[00:01:50] FII's index long-shot ratio decreased to 35.5%.
[00:01:55] Going ahead with the index actionable,
[00:01:58] Demeter's data and price setup suggest,
[00:02:00] Nifty has to hold above 24,350 for an up move towards 24,500 and 24,650 zones,
[00:02:09] while supports can be seen at 24,115 levels.
[00:02:13] Bank Nifty has to hold above 51,750 for a bounce towards 52,315 levels,
[00:02:20] while the hold below the same could see some weakness towards 51,215 levels.
[00:02:25] And finally, talking about the sectors and stocks to watch out,
[00:02:30] positive stance can be seen in pharma names like Seenjin and TV Slab.
[00:02:35] Other stocks which are looking quite positive include Balram,
[00:02:38] Porcineet and Tata Chemicals.
[00:02:41] Rampo Cements, BEL, Federal Bank, Indian Hotel can also be looked out for.
[00:02:45] As some of these could be seen in Volta, Sibla, Dr. Reddeed, Biocon, Torrent Pharma,
[00:02:52] Axis Bank, Bandit Bank, Tata Steel.
[00:02:55] Wish you a super trading day ahead.
[00:02:57] Shivangi Sarda signing off.
[00:02:59] Follow this podcast for solid advice.
[00:03:15] Investment and securities market are subject to market risk.
[00:03:18] Read all the related documents carefully before investing.