In today’s episode (January 22, 2025) of Indian Market in Minutes from the Motilal Oswal Research Desk, we explore the Nifty’s struggle against bearish pressure and market volatility. As global markets rally on the back of expectations for lower tariffs from the US, the Indian market faced intense selling pressure, wiping out recent gains.
We discuss the market’s key movement, with Nifty breaking below the 23,000 mark, and review technical indicators like the formation of a bearish engulfing candlestick. Additionally, we highlight the option data showing a broad trading range between 22,500 and 23,500.
Shivangi also shares crucial stock recommendations, including bullish setups in Hindustan Petroleum, LTF, Max Healthcare, and others, alongside stocks to avoid, such as Zomato, MCX, Oberoi Realty. Find out the critical price levels for Bank Nifty and what to watch for next.
Tune in for valuable market insights and actionable advice that could help you make informed decisions in today’s volatile environment.
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[00:00:00] Welcome to Indian Market in Minutes from Motilal Oswal Research Dev. We will be covering technical and derivatives, SII's activity, index, actionable sectors and stocks to watch out. So stay tuned till the end. Hey, this is your host Shivangi Sarada and let's look at what happened globally.
[00:00:26] Market is expected to open on a flat note driven by a global rally fueled by expectations of lower tariffs from US President Donald Trump. But we'll have to see how much it sustains. To start with our first segment for Wednesday, 22nd January 2025, Nifty Index opened on a positive note but bears took over control right from the start as selling pressure was witnessed from higher levels.
[00:00:50] The index has experienced extreme volatility around midday, moving 1% in both directions within a few minutes. In the latter part of the day, intense selling resumed wiping out the gains of the last six trading sessions as the index broke below 2.5%. The index is not being able to hold above 23333 as follow-up is missing at the higher zones. It formed a bearish engulfing candle on the daily chart and closed with losses of around 300 points.
[00:01:19] India Wix was up by around 4% to 17.1 levels. Nifty put call ratio decreased to 0.77. Option data suggests a broader range in between 22,500 to 23,500, while immediate trading range will be in between 22,800 to 23,300 levels.
[00:01:39] Moving on to the second segment in the equity cash market, FIIs were net sellers to the tune of 5,920 crores, while DIIs were buyers worth 3,500 crores. FIIs index long-shot ratio remains at 17%.
[00:01:55] Going ahead with the index actionable, derivatives data and price setup suggest, till the time Nifty holds below 23,200, weakness could be seen towards 22,800, then 22,600 marks, while hurdles are placed at 23,200, then 23,333.
[00:02:14] Till the time Bank Nifty holds below 48,900, weakness could be seen towards 48,250 and 47,750 levels, while on the upside, hurdle can be seen at 49,150.
[00:02:28] And finally, talking about the sectors and stocks to watch out, positive setup can be seen in Hindustan Petroleum, LTF, Tata Consumer, JK Cement and Berger Pains, while weakness continues in Dixon, Zomato, MCX, Oprah Realty, Kalyan Jewelers, M&M, Trend, Gio Finance, CoForge, Loda and CDSL. Wish you a super trading day ahead. Shivangi Sardha signing off. Follow this podcast for solid advice.
[00:03:09] Investment and securities market are subject to market risk. Read all the related documents carefully before investing.