In this episode, the host, Shivangi Sarda, provides a comprehensive analysis of the market’s current state and future potential.
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 the Motilal Oswal Research Test. We will be covering technical and derivatives, FIS activity, index actionable sectors and stocks to watch out. So stay tuned till the end.
[00:00:17] Hey, this is your host, Shivangi Sarda and to start with our first segment for Monday 24th June 2024, Nifty index opened positive and witnessed some supply pressure after it touched a fresh all-time high of 23,667.
[00:00:40] Tug of war between the bulls and the bears was seen during the day and it managed to close their 23,500 zones. It formed a bearish candle on daily and weekly frame. It has been forming higher highs from the last five weeks and buying is attempting at any dips.
[00:00:58] Inderwoods was down by 1.2% to 13.2 levels. Volatility has been slightly on the rise during the week which has caused a bumpy ride on the upside direction. Nifty put call ratio fell to 1.04. Now this fall in volatility along with fall in put call ratio suggest that some
[00:01:18] range run bias will be there. Option data suggests a broader trading range in between 23,200 to 24,000 levels while immediate range is in between 23,300 to 23,700. Moving on to the second segment, in the equity cash market, FYIs were net sellers to the tune of 1790 crores while DIIs were buyers worth 1237 crores.
[00:01:46] FYIs indexed long short ratio increased to 57%. Going ahead with the index actionable, derivative zeta and dry setup suggest Nifty has to continue to bolt above 23,500 to extend this move towards 23,667 and 23,750 whereas supports are placed at 23,400 then 23,250.
[00:02:13] Bank Nifty has to continue to bolt above 51,500 for an up move towards its recent lifetime high of 51,957 then 52,250. On the downside, support shipped higher to 51,500 then 51,250. And finally talking about the sectors in stocks to watch out, positive stance was
[00:02:36] seen in IT, banking and consumer durable names while profit booking in most of the other sectors. Now stocks to keep on radar have to be very stock specific as index has got stuck in a broader trading range. Now Habins from the white good space is looking quite positive.
[00:02:55] Escorts in a polo tire from the auto and auto ancillary path. Bharti Airtel is showing signs of a negation and bulls are seen active here after five sessions with volume. Now JSW Steel is another stock which is picking up strength in this broader market.
[00:03:13] Wish you a super trading day ahead and a lovely week. For more such detailed analysis, don't forget to follow this podcast. This is Shivanti Sarda signing off.