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 the Motilal Oswal Research Desk.
[00:00:15] This is your host, Shivanki Sartha and let's look at what happened globally.
[00:00:19] US stocks ended record high aided by China stimulus and hope of a further Fed rate cut.
[00:00:25] To start with our first segment for Wednesday 25th September 2024,
[00:00:30] Nifty Index opened flatish and remained in a range of 125 points throughout the day.
[00:00:35] The last hour witnessed a wild move where it went on to touch a fresh all-time high of 26,011.
[00:00:43] While it crossed the 26k marks, it saw slight profit booking thereafter towards the end
[00:00:48] and wiped off most of its intraday gains but still managed to give the highest ever closing.
[00:00:55] It formed a small body bullish candle on the daily frame
[00:00:58] and has been forming higher highs from the last five sessions.
[00:01:02] India wicks was down by 2.9% to 13.4 levels.
[00:01:07] Nifty put call ratio slightly settled down at 1.31.
[00:01:12] Option data suggests a broad out trading range in between 25,600 to 26,600
[00:01:19] while immediate range is in between 25,800 to 26,300.
[00:01:25] Moving on to the second segment in the equity cash market,
[00:01:28] FIIIs were net sellers to the tune of 2,784 kW
[00:01:33] while DII's were buyers worth 3,868 kW.
[00:01:38] FIII's index long-shot ratio decreased to 72%.
[00:01:42] Going ahead with the index actionable,
[00:01:45] derivatives data and price setup suggest
[00:01:47] Nifty has to hold above 25,900 for an up move towards 26,100 then 26,250
[00:01:55] while supports are seen at 25,850 then 25,750.
[00:02:01] Bank Nifty has to hold above 53,750 for an up move towards 54,247 then 54,750
[00:02:10] while on the downside support is seen at 53,750 levels.
[00:02:15] And finally talking about the sector's stocks to watch out,
[00:02:19] positive stance was seen in metal, auto, IT, general industry and reality space stocks
[00:02:26] while some profit booking in FMCG and cement names.
[00:02:30] Now stocks to keep on radar from the metal space we have Nalco, Tata Steel and Hindalco looking quite good.
[00:02:37] From the auto pack we have M&M, Bajaj Auto and TVS Motor.
[00:02:42] Adding to this from the power space is Tata Power and Power Grid
[00:02:46] while some weakness could be seen in PNB, Manapuram, Indiamart,
[00:02:50] Grasseem, RBL Bank and Asian Paint.
[00:02:53] Wish you a super trading day ahead.
[00:02:56] Shivanki Sarda signing off.
[00:02:58] Follow this podcast for solid advice.
[00:03:13] Investment and securities market are subject to market risk.
[00:03:17] Read all the related documents carefully before investing.