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 the Motilal Oswal Research Desk.
[00:00:05] Hey, this is your host Shivangi Sarada and let's look at what happened globally.
[00:00:18] The market is anticipated to open on a flatter positive note due to a recovery in the global markets,
[00:00:24] spurred by a stronger than expected US jobs report that has been boosting investors' confidence in the economy
[00:00:31] and raised hopes for a potential interest rate cut by the US Fed in the next month.
[00:00:36] Additionally, factors such as upcoming RBI credit policy, TCS quarterly results and a rebound in the US, Asian and European markets
[00:00:45] have helped mitigate the impact of geopolitical tensions in Iran and Israel, contributing to a favorable market sentiment overall.
[00:00:54] To start with our first segment for Monday, 7th October 2024, Nifty Index opened GapDown and found support near its 50 daily exponential moving average
[00:01:03] during the initial hour of the session, leading to a decent recovery of nearly 400 points from the lower levels.
[00:01:10] However, by midday, the bears regained strength and the index phase strong selling pressure,
[00:01:15] eventually dropping to a low of 24,966 levels.
[00:01:19] It formed a bearish candle on the daily frame with longer upper shadow indicating pressure on the higher zone
[00:01:25] and has been making lower highs, lower lows from the last four sessions.
[00:01:30] It has formed a bearish marubozo candle on the weekly frame and wiped off the gains of the last two weeks.
[00:01:37] India Wix was up by over 7% to 14 levels.
[00:01:40] Nifty put call ratio decreased to 0.7.
[00:01:43] Option data suggests a broader trading range in between 24,600 to 25,600,
[00:01:50] while immediate range is in between 24,800 to 25,300 levels.
[00:01:57] Moving on to the second segment in the equity cash market,
[00:02:01] FIIs were net sellers to the tune of 9,897 crores with a selling magnitude increasing from the last four sessions,
[00:02:08] while DIIs had an offset in positions and were net buyers worth 8,905 crores.
[00:02:14] FII's index long-shot ratio decreased to 58%.
[00:02:19] Going ahead with the index actionable,
[00:02:22] derivatives data and price setup suggest
[00:02:24] till Nifty holds below 25,200,
[00:02:27] more weakness could be seen towards 24,850 than 24,700 zones,
[00:02:33] while hurdles are placed at 25,200 than 25,400 marks.
[00:02:38] Till the time bank 50 holds below 51,750,
[00:02:42] further weakness could be seen towards 51,250 than 51,000 levels,
[00:02:47] while on the upside, hurdle can be seen at 52,222 marks.
[00:02:52] And finally, talking about the sectors and stocks too,
[00:02:55] watch out, selling pressure was seen across the board,
[00:02:58] barring a few IT names.
[00:03:00] Now, stocks to keep on radar,
[00:03:02] from the IT space, we have interest is looking quite positive.
[00:03:05] From the pharma, we have Torrin Pharma, Alchem,
[00:03:09] Lal Path Labs looking quite good.
[00:03:11] And last but not the least,
[00:03:12] Exide Industry is forming a good setup.
[00:03:16] While some weakness could be seen in Chambul Fertilizer,
[00:03:18] BPCL, LTTS, Reliance, HAL,
[00:03:21] Emphasis, Asian Pain and Concord.
[00:03:24] Wish you a super trading day ahead.
[00:03:26] Shivangi Sarada signing off.
[00:03:28] Follow this podcast with solid advice.
[00:03:44] Investment and securities market are subject to market risk.
[00:03:47] Read all the related documents carefully before investing.