Global markets are in flux as US job data sparks inflation fears, but domestic trends offer hope! Discover the key Nifty levels, actionable insights, and top stock picks for January 8, 2025.
In todayтАЩs episode of Indian Market in Minutes, host Shivangi Sarda takes you through global market updates and their impact on the Indian market. The US market dipped as inflation concerns persisted, while Asian markets remained mixed. Back home, strong domestic buying and easing FII selling lend some stability to Nifty and Bank Nifty.
Highlights of the day include:
- Nifty's volatile opening and its struggle near the 200-day EMA.
- Actionable trading ranges and key levels for Nifty (23550тАУ23800) and Bank Nifty (49500тАУ50500).
- Insights into FII and DII activity, with DIIs as net buyers worth тВ╣1615 crores.
- Stocks to watch: Positive setups in BSE, Biocon, and Apollo Hospital, while TCS, LIC Housing, and Ashok Leyland show weakness.
Stay ahead of the curve with our expert analysis, and uncover market trends to make smarter trading decisions.
With 30+ years of equity expertise and dedicated advisors at your service, access investing opportunities in 550+ cities across 2200+ locations.
Follow our podcast for daily trading tips, actionable insights, and expert market analysis. Share this episode with fellow investors to help them make informed decisions!
[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.
[00:00:21] Hey, this is your host Shivangi Saarda and let's look at what happened globally.
[00:00:26] Market is likely to open flat to negative due to mixed trends in the global markets.
[00:00:31] The US market fell after strong service sector and job data raised concerns about persistent inflation and limited interest rate cuts by the Fed Reserve.
[00:00:41] As a result, US trendshed surged to nearly a one-year high of 4.7%.
[00:00:46] Asian markets are showing mixed movements. However, the gradual reduction in FII selling and strong domestic fund buying could provide support to the market at lower levels.
[00:00:57] To start with our first segment for Wednesday, 8th of January, 2025, Nifty Index opened positive and witnessed volatile swings in both the directions during the first hour of the day.
[00:01:09] After which the index moved sideways, staying within a range of 100 points for the rest of the day.
[00:01:14] It formed a small-bodied candle with long upper shadow which indicates selling pressure is intact at upper levels.
[00:01:21] The index is hovering near its 200 daily exponential moving average.
[00:01:26] India WIX was down by 6.3% to 14.7 levels. Nifty put-call ratio slightly improved to 0.82.
[00:01:35] Option data suggests a broader trading range in between 23,300 to 24,300, while immediate range is in between 23,500 to 23,900.
[00:01:46] Moving on to the second segment in the equity cash market, FIIs were net sellers to the tune of 1491 crores, while TIIs were buyers worth 1615 crores.
[00:01:59] FIIs indexed long-shot ratio increased to 20%.
[00:02:03] Going ahead with the index actionable, derivatives data and price setup suggest, till the time Nifty holds below 23,800, weakness could be seen towards 23,650 and 23,550 levels, while hurdles can be seen at 24,000 zones.
[00:02:19] Till the time Bank Nifty holds below 50,500, some weakness could be seen towards 49,500, while on the upside hurdle can be seen at 50,750.
[00:02:30] And finally, talking about the sectors and stocks to watch out, positive setup can be seen in BSC, Apollo Hospital, Lalpat Lab, Zydus Life Sciences, Max Health, Titan and JK Cement.
[00:02:45] While some weakness in Naukri, PVR Inox, MGL, LIC Housing Finance, Trent, Ashok Leiland and Hero Motor Corp.
[00:02:54] Wish you a super trading day ahead. Shivangi Sardar signing off.
[00:02:58] Follow this podcast for strong advice.