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 Dev. 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 Shivanki Sarda and let's look at what happened globally.
[00:00:26] Market is expected to open on a flat note but may turn volatile as investors remain cautious ahead of the US presidential elections and the upcoming US-Fed Reserve interest rate decision later this week.
[00:00:40] US stocks ended slightly lower after a volatile session as market participants braced for a significant week with the elections and the Fed policy statement looming.
[00:00:51] Domestically, concerns are mounting due to continued selling by the FIIs, disappointing quarterly earnings and the surge in the USD INR to record highs.
[00:01:01] To start with our first segment for Tuesday, 5th November 2024, Nifty Index opened flattish and the bears took over this session right from the start of the date and dropped to 23,800 Zs.
[00:01:15] Now, it was followed by some consolidation and closed with losses of more than 300 points.
[00:01:19] It formed a bearish candle on the daily frame and has been making lower highs from the last three trading sessions.
[00:01:26] India Wix was up by another 5% to 16.7 levels.
[00:01:31] Nifty put call ratio decreased to 0.85.
[00:01:34] These factors strengthen the bears.
[00:01:37] Option data suggest a broader trading range in between 23,000 to 24,300, while immediate range is in between 23,500 to 24,200.
[00:01:48] Moving on to the second segment in the equity cash market, FIIs were net sellers to the tune of 4,330 crores, while DIIs were buyers worth 2,936 crores.
[00:02:02] FII's indexed long-shot ratio slightly decreased to 23.5%.
[00:02:07] Going ahead with the indexed actionable, debittance data and price setup suggest, till Nifty holds below 24,000, weakness could be seen towards 23,800, then 23,650, while hurdles are placed at 24,350 Zs.
[00:02:24] Till the time bank Nifty holds below 51,500, weakness could be seen towards 50,750, while on the upside, hurdles can be seen at 51,750.
[00:02:37] Finally, talking about the sectors and stocks to watch out, stock-specific approach should be applied rather than talking about the sector-specific action.
[00:02:46] Positive setup can be seen in some of the IT names, which includes Dixon and TechM.
[00:02:52] From the banking, we have SPI, Studdle Bank and COB.
[00:02:55] From the metal space, we have NMTC and Nalko.
[00:02:58] Last but not the least, Auto Space M&M is looking quite positive.
[00:03:02] While weakness can be seen in a host of stocks including PVR Inox, Hero Motor Corp, Cranuels, NGL, Bajaj Auto, BPCL, Gale, Adani Ports, Kolbal, GMR Airports, SAIL, Bal Krishna Industries, Jubiland Foodworks and UBL.
[00:03:21] Wish you a super trading day ahead.
[00:03:23] Shivangi Sarada signing off.
[00:03:24] Follow this podcast for solid advice.
[00:03:40] Investment and securities market are subject to market risk.
[00:03:43] Read all the related documents carefully before investing.