Is the Nifty stuck? Dive into today’s episode of Indian Market in Minutes by Motilal Oswal Research Desk, where Shivangi Sarda breaks down:
- Global Markets Update: Flat US markets amidst inflation concerns.
- Nifty Analysis: Key levels, Doji patterns, and insights into trading ranges.
- Sector & Stock Highlights: Gain actionable stock recommendations, including positives like Indigo, Apollo Tyres, and Dr. Reddy’s, and avoidable names like Hind Copper and PVR Inox.
Discover essential trading insights, including Bank Nifty support and resistance levels, FII and DII market activity, and derivatives strategies.
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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, 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 US markets ended flat in the post-holiday trading sessions despite concerns from the debt investors about rising inflation and mixed economic data.
[00:00:35] To start with our first segment for Friday, 27th December 2024, Nifty Index opened positive and witnessed spikes twice during the day but remained consolidated for the rest of the session.
[00:00:47] It formed a doji sort of a candle on the daily frame and has been making multiple dojis which indicates indecisiveness.
[00:00:54] Lack of follow-up buying is seen which is making the index stuck.
[00:00:58] Now, India Wix was down by another 6.5% to 14 levels.
[00:01:02] Nifty put-call ratio increased to 1.05.
[00:01:06] 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.
[00:01:19] Rollover for Nifty for December series stood at 77.7%, which is higher than its quarterly average.
[00:01:26] For Bank Nifty, it stood at 67.8%, which is slightly lower than its quarterly average of 71% and lower than the rollover of the last month as well.
[00:01:38] Moving on to the second segment in the equity cash market, FIIs were net sellers to the tune of 2,377 crores, while DIIs were buyers worth 3,336 crores.
[00:01:50] FII's index long-short ratio decreased to 18.5%.
[00:01:55] Going ahead with the index actionable, derivatives data and price setups suggest Nifty has to hold above 23,700 for a bounce towards 24,000 zones, while support can be seen at 23,600 then 23,500.
[00:02:11] Talking about Bank Nifty, till the time it holds below 51,500, some weakness could be seen towards 50,750 then 50,500, while on the upside, hurdle can be seen at 51,500 then 51,750.
[00:02:26] And finally, talking about the sectors and stocks to watch out, positive setup can be seen in Indico, M&M, Oberoi Realty, Dr. Reddy and Apollo Tires, while some weakness could be seen in Bandhan Bank, SBI Card, Pilda Soft and IDFC First Bank.
[00:02:43] Wish you a super trading day ahead.
[00:02:46] Shivangi Sarda signing off.
[00:02:47] Follow this podcast for solid advice.
[00:03:03] Investment and securities market are subject to market risk.
[00:03:06] Read all the related documents carefully before investing.