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. We will be covering technical and derivatives, FII's activity, index actionable, sectors and stocks to watch out. So stay tuned till the end.
[00:00:15] Hey, this is your host Shivangi Sarda and to start with our first segment for Wednesday, 19 June 2024, Nifty index opened positive and touched a fresh all-time high of 23,517.9 which was followed by some profit booking and then it moved in the range of its opening
[00:00:43] tick for the entire trading session. India wicks was up by around 1.7% to 13 levels. Volatility has got stability but is overall down from the last seven sessions which is converting to bulls. Volatility put call ratio slightly settled down at 1.26.
[00:01:02] The relatively lower volatility along with stable put call ratio indicates strong support based buying. Option data suggest a broader trading range in between 23,200 to 24,000 levels while immediate change is in between 23,400 to 23,700. Moving on to the second segment, in the equity cash market, FII's were net buyers to the
[00:01:27] euro 2569 crores while DII's were buyers worth 1556 crores. FII's indexed long short ratio increased to around about 49%. Going ahead with the index actionable, derivatives data and price setup suggest, Nifty has to continue to hold above 23,500 to extend the move towards 23,650 then 23,750 while supports are placed at 23,400 then 23,350.
[00:02:02] Bank Nifty has to continue to hold about 50,250 for an up move towards 50,650 then 60,133 levels. While on the downside, support is gradually shifting higher to 50,250 then 50,000 levels. And finally talking about the sectors and stocks to watch out, positive stance was
[00:02:24] seen across the board especially in reality, defense and some of the power consumption names. Now stocks to keep on radar are some from the defense base which includes HAL and BEL which continues to be strong. Kothraich property has given a fresh breakout.
[00:02:42] Voltars is rising in the heat conditions across which is adding to the stock along with some power names as well. Now Trent, one of the retail favourite is on the move. Dixin, one of the very strongest name of the space and moving resonantly with
[00:02:58] the market with supports shifting higher. Wish you a great trading day ahead. For more such detailed analysis don't forget to follow this podcast. This is Siobhan Desarda signing off.