In this episode, 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 Shivangi Sarda and let's look at what happened globally.
[00:00:26] US equities closed higher as Dow Jones surged nearly 500 points led by a strong rally in cyclical stocks amid signs of economic strength and renewed hope that a new Donald Trump presidency may not be as disruptive as feared.
[00:00:40] To start with our first segment for Friday 22nd November 2024, Nifty Index opened negative and sharply fell in the initial hour to drop to 23263 levels.
[00:00:52] It broke its immediate support level but was followed by some consolidation in a very narrow band throughout the rest of the day and finally closed with losses of around 180 points.
[00:01:03] It formed a bearish candle on the daily frame with longer lower shadow which was majorly dominated by the bears and meekness in the buying of the bulls at the lower levels.
[00:01:13] India Wicks was up by another 2% to 16 levels. Nifty put call ratio increased to 0.94.
[00:01:20] Option data suggests a broader trading range in between 22,800 to 23,800 while immediate range is in between 23,100 to 23,500.
[00:01:33] Moving on to the second segment in the equity cash market, FIIs were net sellers to the tune of 5,321 crores while DIIs were buyers worth 4,200 crores.
[00:01:45] FIIs' index long-shot ratio marginally decreased to 24.9%.
[00:01:50] Going ahead with the index actionable, Debit of Zeta and price setups suggest,
[00:01:55] Till the time Nifty holds below 23,500, weakness could be seen towards 23,250 then 23,000 marks, while hurdles are placed at 23,500 and 23,650.
[00:02:10] Till the time Bank Nifty holds below 50,650, some weakness could be seen towards 50,000 then 49,750.
[00:02:19] While on the upside, hurdles can be seen at 50,750 then 51,000 zones.
[00:02:25] And finally, talking about the sectors in stocks to watch out, positive setup can be seen in Indian Hotel, Power Grid, Nalko, MCX, CoForge and Persistent Systems.
[00:02:37] While weakness can be seen in Berger Bains, Crompton Greaves, Pedilite, Mother Sun, ITC, Bharat Forge, UBL, Asian Bains, HAL and Indoscent Bank.
[00:02:49] Wish you a super trading day and a lovely weekend ahead.
[00:02:52] Shivangi Sardar signing off.
[00:02:54] Follow this podcast for solid advice.