Is the market ready for a rally? Discover the latest trends in Nifty, Bank Nifty, and stock-specific moves as FIIs drive optimism. Stay ahead with today's actionable insights !
In this episode of Indian Market in Minutes from the Motilal Oswal Research Desk, Shivangi Sarda breaks down the market trends for Tuesday, December 10th, 2024. Here's what you’ll learn:
- Global Update: Positive cues from Asian markets and hopes for favorable RBI policies.
- Nifty Performance: Volatility continues, with a 100-point range and a small-bodied candle closing.
- Key Levels to Watch:
- Nifty: Resistance at 24700–24850; support at 24400–24500.
- Bank Nifty: Upside potential toward 54467 with support at 53250.
- FIIs Activity: Net buying worth ₹724 crores indicates bullish sentiment.
- Stocks to Watch:
- Bullish Picks: Supreme Industries, Angel One, Wipro, Max Healthcare.
- Bearish Trends: Marico, Asian Paints, Havells, Tata Consumer.
Follow this podcast for reliable trading advice and stay updated with market trends. Hit play for actionable strategies!
Follow Indian Market in Minutes for concise updates and solid trading advice. Don’t miss a beat—subscribe now!
Key segments cover technical insights, FII activity, index actionable, and sectors to watch, highlighting Nifty's potential highs, volatility impact, and strong stocks.
With 30+ years of equity expertise and dedicated advisors at your service, access investing opportunities in 550+ cities across 2200+ locations.
[00:00:00] Welcome to Indian Market in Minutes from Motilal Oswal Research Test. We will be covering technical and derivatives, SII'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 let's look at what happened globally.
[00:00:26] The market is anticipated to open on a positive note supported by a rally in the Asian markets and strong net buying by the FIIs in the domestic equities.
[00:00:35] There is optimism that the newly appointed RBI governor chosen by the government may implement favourable monetary policies to spur economic growth.
[00:00:44] To start with our first segment for Tuesday, 10th December 2024, Nifty Index opened on a negative note and showed volatility within a range of 100 points during the first half of the session.
[00:00:55] In the later part of the day, the index moved sideways showing limited momentum and a lack of clear direction.
[00:01:02] It formed a small-bodied candle on the daily frame and closed with losses of around 60 points.
[00:01:07] India Wix was marginally down near 14 levels, Nifty put-call ratio decreased to 0.90.
[00:01:13] Option data suggests a broader trading change in between 24,100 to 25,000 levels, while immediate trade is in between 24,300 to 24,800.
[00:01:26] Moving on to the second segment in the equity cash market, FIIs were net buyers to the tune of 724 crores, while DIIs were sellers worth 1648 crores.
[00:01:38] FIIs index long-shot ratio increased to 44.8%.
[00:01:42] Going ahead with the index actionable, derivatives data and price set-up suggest Nifty has to hold above 24,500 for an up move towards 24,850 marks, while support can be seen at 24,400.
[00:01:57] Talking about Bank Nifty, this index has to hold above 53,250 for the next up move towards its previous lifetime high of 54,467 zones, while on the downside, support can be seen at 53,000 levels.
[00:02:11] And finally, talking about the sectors in stocks to watch out, positive set-up can be seen in Angel One, Dr. Lal Pat Lab, Max Healthcare, Vipro, Jindal Steel and HAL.
[00:02:23] While some weakness could be seen in Godrej Consumer Products, PVR Inox, Mariko, Flutter Consumer, Havels, IDFC First Bank, Asian Bins and Britannia.
[00:02:34] Wish you a super trading day ahead.
[00:02:36] Shivangi Sarada signing off.
[00:02:38] Follow this podcast for solid advice.
[00:02:53] Investment and securities market are subject to market risk.
[00:02:57] Read all the related documents carefully before investing.