ЁЯУИ Stock Market Update: NiftyтАЩs 200-Point Drop & Key Levels
Global markets are fueling optimism, but Nifty saw a sharp 200-point dip before stabilizing. WhatтАЩs driving the volatility, and whatтАЩs next for traders?
ЁЯФ╣ Market Highlights:
тЬФя╕П Nifty forms a bearish candle after early selling pressure
тЬФя╕П India VIX surges 5.55% to 14.44 тАУ What does this mean?
тЬФя╕П FIIs net sellers at тВ╣2,464 Cr, DIIs absorb with тВ╣1,516 Cr buying
тЬФя╕П Key resistance & support levels for Nifty & Bank Nifty
тЬФя╕П Stocks to watch: Berger Paints, Tata Consumer, HCLTECH, Bharti Airtel, Kotak Bank (bullish) vs. AlkemLab, Delhivery, Sun TV, ABFRL (weakness)
ЁЯУК Trading Outlook:
- Nifty: Needs to hold 23450+ for upside, support at 23250 & 23100
- Bank Nifty: Must sustain 50000+ for gains, support at 49750 & 49500
ЁЯУв Follow for daily updates & expert trading 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 Shivangi Saarda and let's look at what happened globally.
[00:00:26] Market is expected to open on a positive note driven by a rally in the global markets. Overnight, US and European indices rose and Asian markets are showing a positive outlook ahead of US Fed Chair's hearings and the upcoming US inflation data announcement. To start with our first segment for Tuesday 11 February 2025, Nifty Index opened on a flattish note but witnessed selling pressure as it dropped nearly 200 points in the first hour of the session.
[00:00:55] After which the index traded since sideways within a range of 100 points in the rest part of the day showing some lack of strong momentum. It formed a bearish candle on the daily frame with longer lower shadow indicating pullback from the support zone. India WIX was up by around 5.5% to 14.4 levels. Nifty put call ratio decreased to 0.75.
[00:01:18] Option data suggests a broader trading range in between 22,800 to 23,800 while immediate range is in between 23,200 to 23,600. Moving on to the second segment in the equity cash market, FIIs were net sellers to the tune of 2,464 crores while DIIs were buyers worth 1,516 crores. FIIs index long-shot ratio decreased to 15%.
[00:01:49] Going ahead with the index actionable, derivatives data and price setup suggest Nifty has to cross and hold above 23,450 for an up move towards 23,700 zones while support can be seen at 23,100. Bank Nifty has to cross and hold above 50,000 for a bounce towards 50,750 while support can be seen at 49,500.
[00:02:15] And finally talking about the sectors and stocks to watch out, positive setup can be seen in Berger, Payne, Tata Consumer, HCL Tech, Bharti, Airtel, Kotak Bank, ICICI Bank, ICICI Lombaal and IRCTC. While some weakness could be seen in Alchem Lab, Lodha, Angel One, Sun TV and Kolpal. Wish you a super trading day ahead. Shivang Nisalda signing off. Follow this podcast for solid advice.
[00:02:55] Investment and securities market are subject to market risk. Read all the related documents carefully before investing. We've pulled off of я┐╜