Global Market Updates & Key Trading Insights for December 24, 2024
In today's episode, host Shivangi Sarda breaks down the latest market movements, providing actionable insights for traders:
✅ Nifty Overview: Positive start with a volatile 220-point range, forming a Doji pattern while staying under critical resistance at 23,850.
✅ FIIs vs. DIIs Activity: FIIs net sellers at ₹169 crores; DIIs net buyers at ₹2,228 crores.
✅ Key Levels to Watch:
- Nifty: Weakness likely below 23,850 with downside targets of 23,500–23,350.
- Bank Nifty: Resistance at 51,500; watch for dips to 51,000 and 50,600.
- ✅ Stocks to Track:
- Bullish: Jubilant Food, ITC, Naukri, HDFC Bank, Oberoi Realty.
- Bearish: KPIT Tech, Biocon, Hero MotoCorp, LTI Mindtree.
📊 VIX Alert: India VIX drops by 10.3% to 13.5, signaling reduced market fear.
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
[00:00:14] Hey, this is your host Shivangi Sarda and let's look at what happened globally.
[00:00:19] Strong buying interest from the domestic funds, reduced selling by the FIIs and a good start in the global market suggests a positive start for the domestic indices.
[00:00:29] To start with our first segment for Tuesday 24th December 2024, Nifty Index opened positive and moved in a broader trading range
[00:00:37] as tug-of-war between the bulls and bears was seen and it traded in a range of 220 points.
[00:00:43] It formed a doji and an inside bar on daily frame and closed with gains of around 170 points.
[00:00:49] It closed positive but formation of lower top, lower bottom is still intact as index has failed to hold above 23,850 zones and has turned a little volatile.
[00:00:59] India Wix was down by 10% to 13.5 levels, Nifty put-call ratio slightly increased to 0.84.
[00:01:09] Option data suggests a broader trading range in between 23,200 to 24,200 while immediate change is in between 23,500 to 23,900.
[00:01:22] Moving on to the second segment in the equity cash market, FIIs were net sellers to the tune of 169 crores while DIIs were buyers worth 2228 crores.
[00:01:35] FIIs indexed long-shot ratio slightly decreased to 30.5%.
[00:01:40] Going ahead with the index actionable, Debitis data and price setup suggest, till Nifty holds below 23,850, weakness could be seen towards 23,500 and 23,350, while hurdles are placed at 24,000.
[00:01:56] Till the time Bank Nifty holds below 51,500, some weakness could be seen towards 51,000 and 50,600, while on the upside, hurdles can be seen at 51,500.
[00:02:09] And finally, talking about the sectors and stocks to watch out, positive setup was seen in Jubilant Foodworks, Lodha, ITC, Godrich Property, Oprah Realty and HTMC Bank.
[00:02:22] While some weakness could be seen in KPIT Tech, Biocon, LTI MineTree, Hero Motor Corp and PVR Inox.
[00:02:30] Wish you a super trading day ahead.
[00:02:33] Shivangi Sarda signing off.
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