Discover what’s shaping the Indian markets today! From Nifty’s bearish trend to must-watch sectors and stock picks, we’ve got your daily dose of actionable market insights.
"In today’s episode, Shivangi Sarda breaks down global trends and market updates for Tuesday, 31st December 2024:
- Nifty opened on a negative note, slipping to 23,600 zones, forming a bearish candle on the daily chart.
- Option data highlights a trading range between 23,200 to 24,200 zones.
- FIIs remain net sellers at ₹1,893 crores, while DIIs were net buyers at ₹2,174 crores.
Actionable Insights:
- Nifty and Bank Nifty key levels indicate possible bearish movements.
- Stocks to watch with a positive setup include Biocon, Divis Lab, and United Spirits.
- Weakness expected in SBI Card, Hindalco, and HAL.
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Investment and securities markets are subject to risks. Read all related documents carefully before investing.
[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.
[00:00:22] Hey, this is your host Shivangi Sarda and to start with our first segment for Tuesday, 31st of December, 2024, Nifty Index opened negative and after the initial swings in the first half of the session,
[00:00:34] it further slipped and touched 23,600 marks. It formed a bearish candle on the daily frame and the index has got stuck within the band of the previous Friday's session.
[00:00:44] India Wix was up by another 5.5% to 14 levels. Nifty put call ratio decreased to 0.88.
[00:00:51] Option data suggests a broader trading range in between 23,200 to 24,200, while immediate range is in between 23,500 to 23,900.
[00:01:02] Moving on to the second segment in the equity cash market, FYI's were net sellers to the tune of 1,893 crores, while DII's were buyers worth 2,174 crores.
[00:01:16] FYI's index long-shot ratio dropped to 14%. Going ahead with the index actionable, derivatives data and price setup suggest,
[00:01:25] till the time Nifty holds below 23,800, weakness could be seen towards 23,350 marks, while hurdles are placed at 23,900.
[00:01:35] Till the time bank Nifty holds below 51,250, weakness could be seen towards 50,500, while on the upside, hurdle can be seen at 51,500.
[00:01:46] And finally, talking about the sectors and stocks to watch out, positive setup can be seen in Biocon, DV's Lab, Lupin, Itka Lab, Indian Hotels and United Spirits.
[00:01:58] While some weakness could be seen in Hindalco, NMDC, Bhel, HAL and PFC.
[00:02:04] Wish you a super trading day ahead. Shivangi Sarda signing off. Follow this podcast for solid advice.
[00:02:23] Investment and securities market are subject to market risk. Read all the related documents carefully before investing.