Stay ahead in the market with today’s actionable insights! We cover Nifty’s struggle to hold key levels, the impact of US inflation data, and top stock recommendations for your portfolio.
In this episode of Indian Market in Minutes, Shivangi Sarda analyzes global and domestic market trends for Wednesday, December 11, 2024.
Highlights:
- Global Cues: Anticipation of US November inflation data and its implications for Federal Reserve interest rates.
- Nifty Movement: Key levels, trading range predictions, and candlestick patterns.
- FIIs & DIIs Activity: Breakdown of net buying trends and implications for market sentiment.
- Stock Picks: Positive outlook on Navin Fluorine, Persistent Systems, Jindal Steel, and more. Stocks under pressure include Adani Green, Cipla, and Power Grid.
- Actionable Insights: Key levels for Nifty and Bank Nifty, derived from derivatives data and technical analysis.
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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 Motilal Oswal Research Test. We will be covering technical and derivatives, FII's activity, index, actionable sectors and stocks to watch out. So stay tuned till the end.
[00:00:15] Hey, this is your host Shivangi Sarda and let's look at what happened globally.
[00:00:26] The market is expected to open on a positive note due to sustained FII's inflows into the domestic equities, mixed performances in the Asian markets and anticipation of the upcoming US inflation data.
[00:00:38] The release of US November inflation data is crucial as it will influence whether the Federal Reserve will decide to cut or maintain interest rates in the coming week.
[00:00:48] To start with our first segment for Wednesday 11th of December 2024, Nifty Index opened positive but failed to cross its previous day's high and gradually slipped in the first half of the session.
[00:01:00] It showed some swings in the next half and finally settled near 24,600 marks.
[00:01:06] Index has been witnessing a tug-of-war between the bulls and bears from the last three trading sessions with support-based buying but lack of follow-up action.
[00:01:14] It formed a small-bodied candle on the daily frame with longer lower shadow but has been making lower highs from the last three trading sessions.
[00:01:22] India Wix was down by another 2.5% to 13.8 levels.
[00:01:27] Nifty put-call ratio decreased to 0.86.
[00:01:32] Option data suggest a broader trading range in between 24,200 to 25,000 zones,
[00:01:38] while immediate range is in between 24,400 to 24,800.
[00:01:44] Moving on to the second segment in the equity cash market, FIIs were net buyers to the tune of 1,286 crores,
[00:01:53] while DIIs were buyers worth 6.06 crores.
[00:01:56] FII's index long-shot ratio decreased marginally to 43.5%.
[00:02:01] Going ahead with the index actionable, derivatives data and price setup suggest Nifty has to hold above 24,500 for an up move towards 24,700 and 24,850 zones,
[00:02:15] while support can be seen at 24,400.
[00:02:19] Nifty has to continue to hold above 53,300 for the next up move towards 54,000 and then 54,500,
[00:02:28] while support can be seen shifting higher to 53,000 levels.
[00:02:32] And finally, talking about the sectors and stocks to watch out,
[00:02:36] positive setup can be seen in LTI Mindree, Shiram Finance, Hutko, Mutut Finance, Emphasis, PEL, ABB, Jindal Steel & Power and Persistence Systems.
[00:02:46] While some weakness could be seen in Adani Green, Bharti Airtel, Adani Total Gas, Adani Enterprises, Adani Ports, Power Grid, Reliance & Escorts.
[00:02:56] Wish you a super trading day ahead.
[00:02:59] Shivangi Sardha signing off.
[00:03:00] Follow this podcast for solid advice.