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 Day.
[00:00:14] Hey, this is your host Shivanki Sarda and let's look at what happened globally.
[00:00:18] The market is expected to open on a positive note influenced by three factors, the US market hitting record highs,
[00:00:26] the second factor being falling oil prices from its two-months peak and the third being dovish remarks from the RBI suggesting a possible rate cut.
[00:00:34] To start with our first segment for Thursday, 10 October 2024, Nifty Index opened positive while it moved up in the first couple of hours, it sank for the rest of the session.
[00:00:45] It took a breather at 24,950 and managed to close near 25k marks.
[00:00:51] Now, it formed a small-bodied bearish candle on the DNE frame with longer upper shadow indicating that selling pressure is intact at the higher zones.
[00:00:59] Now, recovery can be seen from the lower levels but follow-up is required for this pullback move to sustain at these levels.
[00:01:06] Indiopics was down by another 3% to 14. Nifty put call ratio decreased to 0.72.
[00:01:13] Option data suggests a broader trading range in between 24,600 to 25,500, while immediate range is in between 24,800 to 25,300.
[00:01:25] Moving on to the second segment in the equity cash market, FIIs were net sellers to the tune of 4,563 crores, while DIIs were buyers worth 3,509 crores.
[00:01:38] FIIs index long-shot ratio decreased to 38.5%.
[00:01:43] Going ahead with the index actionable, derivatives data and price setup suggest, till 50 holds below 25,150 marks, weakness could be seen towards 24,750, while hurdles are placed at 25,150.
[00:01:59] Till the time bank Nifty holds below 51,250, weakness could be seen towards 50,250 marks, while on the upside call riders are present at 51,500 zones.
[00:02:12] And finally, talking about the sectors and stocks to watch out, recovery was seen in most of the sectors including Pharma, Reality, Auto, IT and selective banking names.
[00:02:23] Now, stocks to keep on radar, positive setup can be seen in some of the Pharma stocks which includes TV's Lab, Lupin, Glenmark, Sipla, IPCA Labs.
[00:02:32] From the IT, we have a few names including Dixon, Techchem and Dockery.
[00:02:36] From the consumption space and of course with the festivity coming in, we have trend looking quite positive.
[00:02:42] While some weakness could be seen in ITC, Shree Cement, JK Cement, COB, Aarti Industry, HUL, Induscent Bank Sale and Evidence Fidel.
[00:02:51] Wish you a super trading day ahead.
[00:02:54] Shivangi Sarada signing off.
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