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.
[00:00:24] Hey this is your host Shivangi Sardar and to start with our first segment for Thursday 13 June 2024, Nifty Index opened gap up and continued its positive trajectory for most part of the session. This upward momentum led to the index to reach a new lifetime high of 23,441.
[00:00:44] In the last hour of the session, the index experienced some profit booking which slightly wiped off the gain. Overall it traded in a narrow band of 140 points and closed a tad bit above 23,300. India wicks was downed by another 3% to 14.3 levels.
[00:01:03] India wicks has cooled off from its significant highs and comforting the bulls. Nifty put call ratio remains unchanged at 1.02. Fall in the India wicks along with stable put call ratio indicates strong support pay spike. Option data suggests a broader trading range in between 22,800 to 23,700 while immediate
[00:01:26] range is in between 23,100 to 23,500. Moving on to the second segment, in the equity cash market, FII's were net buyers to the tune of 427 crores while DII's were buyers worth 234 crores. FII's indexed long shot ratio increased to 41.5%.
[00:01:50] Going ahead with the index actionable, derivatives data and price setup suggests Nifty has to hold above 23,200, fall in upside move towards 23,500 then 23,700 while support is seen at 23,000 marks. Bank Nifty has to continue to hold above 49,500, fall in up move towards 50,000 and then
[00:02:15] 50,500 while on the downside support is placed at 49,500 then 49,250. Finally talking about the sectors and stocks to watch out, positive stance was seen in media, cement and construction, banking, power, metal and fertilizer names while some minor profit taking in FMCG and some selective consumption names.
[00:02:43] Now stocks to keep on radar are summed from the autospace which are showing resilient strength which includes Aishu Motor, Madhasa and Exide Industry. Some of the housing finance companies are also looking positive like LIC Housing Finance, Canfin Homes.
[00:02:59] From the cement and infra construction related space we have Ambuja Cement, Cumans India and Ultra Tech Cement which looks quite promising. Wish you a great trading day ahead. For more such detailed analysis don't forget to follow this podcast. This is Shivangi Sardar signing off.
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