Join Shivangi Sarda as she unpacks today’s market trends, FIIs' movements, and stock recommendations. In today’s episode of Indian Market in Minutes, we analyze Nifty’s bearish trend, explore RBI’s potential rate cuts, and share actionable insights for your trading strategy.
Main Content:
- Global markets show weakness, and FIIs continue their selling streak.
- RBI’s dovish outlook hints at rate cuts in 2024.
- Nifty slips to 24,527 zones with a bearish daily candle, consolidating within a tight range.
- Bank Nifty levels to watch: 53,000 for support, with potential for 54,000.
- Stocks to watch today: Positive setups in Coforge, Bajaj Finance, Persistent, and Polycab; weaknesses seen in Hindustan Unilever, Cipla, and Indus Tower.
- Option data suggests a trading range between 24,400 to 24,800 for Nifty.
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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.
[00:00:15] Hey, this is your host Shivangi Saarda and let's look at what happened globally.
[00:00:26] The market is likely to open marginally lower driven by weakness in global markets and concerns over FII's selling.
[00:00:32] The RBI has kept interest rates unchanged for nearly two years and there is growing expectation that the new RBI governor may adopt a more dovish stance on Monchi policy, potentially easing rates early next year.
[00:00:46] As a result, it is expected to present a good buying opportunity at lower levels.
[00:00:50] To start with our first segment for Friday, 13 December 2024, Nifty Index opened negative and after the initial spike to 24,675 zones, it cascaded throughout the day.
[00:01:01] It dropped to 24,527 and closed with losses of around 90 points.
[00:01:07] It formed a bearish candle on the daily frame and has been consolidating in a range from the last five trading sessions.
[00:01:14] India Wix was down by another 0.5% to 13.2 levels.
[00:01:19] Nifty put call ratio increased to 1.02.
[00:01:22] Option data suggests a broader trading range in between 24,000 to 25,000 levels, while immediate range is in between 24,400 to 24,800.
[00:01:34] Moving on to the second segment in the equity cash market, FIIs were net sellers to the tune of 3,560 crores, while DIIs were buyers worth 2,647 crores.
[00:01:47] FII's index long-shot ratio decreased to 40%.
[00:01:52] Going ahead with the index actionable, derivative data and price setup suggests Nifty has to continue to hold above 24,500 for the next up move towards 24,850 marks, while a crucial support can be seen at 24,442 levels.
[00:02:08] Bank Nifty has to hold above 53,000 for a bounce towards 53,650 and 54,000 levels, while a hold below the same could see some weakness in volatility towards 52,500.
[00:02:22] And finally, talking about the sectors and stocks to watch out, positive setup can be seen in Coforge, Max Health, Pachaj Finance, Lodha, Persistent, Tech Mahindra, LTI Mindtree and Dixon Technologies.
[00:02:36] While some weakness could be seen at Indus Tower, Concore, Aurobinda Pharma, HUL, Aarti Industries and CIPLA.
[00:02:44] Wish you a super trading day and a lovely weekend ahead.
[00:02:48] Shivangi Sardar signing off.
[00:02:49] Follow this podcast for solid advice.
[00:03:05] Investment and securities market are subject to market risk.
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