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.
With 30+ years of equity expertise and dedicated advisors at your service, access investing opportunities in 550+ cities across 2200+ locations.
[00:00:00] Welcome to Indian Market in Minutes from Motilal Oswal Research Dev.
[00:00:05] We will be covering technical and derivatives SIRs activity, index, actionable sectors and stocks to watch out.
[00:00:12] So stay tuned till the end.
[00:00:22] Hey, this is your host, Shivangi Sardha and before we jump into our Indian markets, let's touch base to what's happened globally.
[00:00:29] The US and Asian markets witnessed mixed bad following disappointing private sector US hiring data to 3.5 years low.
[00:00:38] But above expected service PMI data will be positive on oil marketing, jewelry, FMCG and farmer stocks.
[00:00:46] To start with our first segment for Friday 6th September 2024, Nifty Index opened positive at 25,250
[00:00:55] and while it went on 25 points above the save, it slipped for the rest part of the day and dropped by 150 points.
[00:01:03] Some sort of profit booking was seen but it respected its previous day's lower levels.
[00:01:08] It formed a bearish candle on the daily frame and glows near its day's low.
[00:01:13] Now India Vix was down by around 1.2% to 14.2 levels.
[00:01:18] Nifty put call ratio increased to 1.33 due to the expiry volatility.
[00:01:23] Now India Vix has been hovering in a narrow band at its lower zones which is paving ways for the bulls and the declines.
[00:01:32] Option data suggests a broader trading range in between 24,600 to 25,500 while immediate range is in between 24,900 to 25,300.
[00:01:44] Moving on to the second segment in the equity cash market, FII's were net sellers to the tiered out 689 crores
[00:01:51] while DII's were buyers worth 2,971 crores.
[00:01:56] FII's index long shot ratio marginally decreased to 68.1%.
[00:02:01] Going ahead with the index actionable, debitors data and price setup suggests
[00:02:06] Nifty has to continue to hold above 25,150 for an uproof towards 25,350 then 25,500
[00:02:15] while supports can be seen at 25,100 then 25,000 levels.
[00:02:20] Bank Nifty has to continue to hold above 51,250 for an uproof towards 5,007.50 which is a hurdle sold then 52,000 levels
[00:02:31] while support can be seen at 51,000 zone.
[00:02:35] Now Bank Nifty remains sticky but conviction is more in Nifty.
[00:02:39] And finally talking about the sectors and stocks to watch out, positive stands were seen in
[00:02:44] Banking, IT, Metal and Mining and some of the Pharma names.
[00:02:48] The positive stands can be seen in a mixed pack across board which includes PVR, Einox,
[00:02:54] Stingene, Bosch, Chola Finance, Loris Lab, Gujarat Gas, IOC and Titan.
[00:03:01] While some weakness can be seen in BHEL, Dixon, Sipla, HEL, Polycap and Habit.
[00:03:08] Wish you a super trading day and a lovely weekend ahead.
[00:03:11] Shivangi Sardar signing off.
[00:03:13] Follow this podcast with solid advice.
[00:03:28] Investment and securities market are subject to market risk.
[00:03:32] Read all the related documents carefully before investing.