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 Depth. We will be covering technical and derivatives, FII's activity index actionable sectors and stocks to watch out. So stay tuned till the end.
[00:00:22] Hey this is your host Shivanki Sardar and to start with our first segment for Friday 1st July 2024, Nifty Index opened positive at a new lifetime high and touched 24,400 watts in the initiative. It witnessed some profit-booking thereafter and sank towards the end but the good part
[00:00:41] is that it held on to its supports of 23,280 levels. It has been forming higher lows from the last 8 sessions. India wicks was down by around 3% to 12.8 levels. Lower volatility is converting the bulls. Nifty put call ratio rose to 1.27.
[00:00:59] Now this fall in volatility along with the rising PCR suggests that momentum is to continue on the higher zones. Option data suggests a broader trading range in between 24,000 to 24,500 while immediate change is in between 24,200 to 24,400.
[00:01:18] Moving on to the second segment in the equity cash market, FII's were net buyers to the tune of 2,576 crores while TII's were sellers worth 2,375 crores. FII's indexed long-short ratio increased to 83.8% which is at its highest level since May 2021.
[00:01:40] Going ahead with the index action wealth, derivatives data and price setup suggests Nifty has to hold above 24,250 for an up move towards 24,400 and 24,500 zones while support is placed at 24,200 then 24,050. Nifty has to continue to hold above 52,750 for an up move towards 53,357 then 53,750 while
[00:02:12] on the downside support is seen at 52,750 then 52,500 zones. And finally talking about the sectors and stocks to watch out, positive stance was seen in FARBAR, IT, Metal, Chemical and Fertilizer and Selective Banking stocks. Now stocks to keep on radar are TUMIN which is given a consolidation breakout.
[00:02:35] Adding to this is SUNDPARMA, Lupin, Crandwell and LORISLAB from the FARMAR space which is back in action. From the defense and shipping stocks we have ECHINGAN, BEL, POCHIN, SHIPYA, MASTOCK and PARAS which are RO-RIC and momentum is clearly visible in most of these stocks.
[00:02:52] From the IT stocks we have PERSISTENT, OFSS, EMPHASIS and INFOSIS which have done higher from the support zones and started to witness positive start. Wish you a super trading day and a lovely weekend ahead. For more such detailed analysis don't forget to follow this podcast.
[00:03:09] This is Shivangi Sarda, signing off. Investment and securities market are subject to market risk. Read all the related documents carefully before investing.