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 Desk. 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 Shivangi Saarda and to start with our first segment for Friday, 8th November 2024, Nifty Index opened flattish and sharply fell in the first hour, which was followed by a consolidation of around 80 points in the rest
[00:00:38] part of the day. It dropped to 24,180 levels and wiped off all the gains of the previous session to close with losses of around 280 points. It formed a bearish candle on the daily frame and bears took over in the entire session.
[00:00:53] India Wix was up by another 0.5% to 14.9 levels. Nifty put-call ratio decreased to 0.90. Option data suggests a broader trading range in between 23,600 to 24,600, while immediate range is in between 23,800 to 24,400 levels.
[00:01:13] Moving on to the second segment in the equity cash market, FII's were net sellers to the tune of 4,889 crores, while DII's were buyers worth 1,787 crores. FII's indexed log short ratio decreased to 24.5%.
[00:01:32] Going ahead with the index actionable, Debitives data and price setups suggest Nifty has to hold above 24,150 for a bounce towards 24,350 and 24,450 levels, while supports can be seen at 23,850 so.
[00:01:50] Bank Nifty has to hold above 51,750 for a bounce towards 52,500 levels, while a hole below the same could see some weakness towards 51,250 levels.
[00:02:03] And finally, talking about the sectors and stocks to watch out, positive stance can be seen at some of the pharma names which includes Apollo Hospital and Syngine.
[00:02:13] From the banking space, we have COB, SBI and Federal Bank looking quite promising.
[00:02:19] From the fertilizer pack, Poro Mandel is looking quite positive.
[00:02:23] Last but not the least, from the IT space, we have CoForge which is witnessing fresh buy.
[00:02:29] While some weakness could be seen in Hindalco, Grasin, Oro Pharma, Tata Motors, Kothrich Properties, Emphasis, Kolpal and Titan.
[00:02:38] Wish you a super trading day ahead.
[00:02:40] Shivangi Saarda signing off.
[00:02:41] Follow this podcast for solid advice.