In today’s episode of Indian Market in Minutes from the Motilal Oswal Research Desk, host Shivangi Sarda takes you through a mixed global market landscape, impacted by the US reciprocal tariff push and a surprisingly strong US Manufacturing PMI. Despite global turbulence, domestic data brings hope as March’s GST collections surge by 10%, crossing ₹1.96 lakh crore.
On the Nifty front, the index opened gap down by 180 points, attempted a brief recovery, but closed with a loss of 350 points, forming a bearish candle. Market volatility rose, with India VIX increasing by nearly 9%. Nifty is expected to trade within the 22600 to 23700 range, with immediate support at 23000 and resistance at 23400.
In the Equity Cash Market, FIIs remained net sellers (₹5902 crores), while DIIs were net buyers (₹4323 crores). Bank Nifty also showed signs of weakness, struggling to hold above 51000.
Stocks to Watch:
Positive momentum: Indus Tower, Trent, Bank of India, Angel One, BPCL, GMR Airports, and more.
Weak signals: Voltas, Naukri, Divis Lab, Godrej Properties, Lupin, and KPIT Tech.
Stay ahead in the trading game by following our podcast for daily updates and actionable insights!
[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 Shyamandi Sarga and let's look at what happened globally.
[00:00:26] Expect the market to open on a flattish note ahead of US President Donald Trump disclosing his reciprocal tariff during an event in the White House Rose Garden. The tariffs are anticipated to disrupt global supply chains and impact the profits of exporters to the US while potentially slowing down the world's largest economy due to rising prices. Globally, the US market closed with mixed results and the US manufacturing PMI came in above expectations.
[00:00:55] Despite the global uncertainty, there are some positive factors driving the market. GST collections for March showed a 10% increase, reaching over 1.96 lakh crore, the second highest ever, indicating reduced fiscal burden and higher business activity. To start with our first segment for Wednesday, 2 April 2025, Nifty Index opened gap down by around 180 points
[00:01:22] and after the slight recovery in the first hour, it faced reduction at 23,550 levels and slipped lower throughout the day. It faced profit booking and dropped by 430 points below 23,150 zones. It took a breather at its 50 daily exponential moving average and closed with losses of around 350 points. It formed a bearish candle on the daily frame with longer lower shadow, indicating pressure is in tight at the higher zone.
[00:01:51] India Wix was up by 9% to 13.9 levels. Nifty put-call ratio decreased to 0.76. Option data suggests a broader trading range in between 22,600 to 23,700 levels, while immediate range could be between 23,000 to 23,400.
[00:02:12] Moving on to the second segment in the equity cash market, FIIs were net sellers to the tune of 5,902 crores, while DIIs were buyers worth 4,323 crores. FII's index long-shot ratio decreased to 30.6%.
[00:02:30] Going ahead with the index actionable, derivatives data and price set-up suggest if Nifty holds below 23,333 marks, weakness could be seen towards 23,000 and 22,800, while hurdles are seen at 23,550. Till the time Bank 50 holds below 51,000, some weakness could be seen towards 50,250, while on the upside, hurdle can be seen at 51,500.
[00:02:59] And finally, talking about the sectors and stocks to watch out, positive set-up can be seen in Trend, Bank of India, Hoodco, Angel One, BPCL, Paytm, Bandhan Bank, GMR Airpods and Gale. While some weakness could continue in Voltas, Persistent Systems, Lodha, CoForge and KPIT Tech. Wish you a super day ahead. Shamangi Saadar signing off. Follow this podcast for solid advice.