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 Desk. We will be covering technical and derivatives FRIs activity, index actionable sectors and stocks to watch out. So stay tuned till the end.
[00:00:15] Hey, this is your host Shumangi Sardha and to start with our first segment for Wednesday 3rd July 2024. Nifty index opened positive and after touching a fresh all-time high of 24,236, it witnessed some profit-brooking in the first half of the session. It remained range bound in
[00:00:44] the second half and leave the highest ever close. It formed a small-bodied bearish candle on the daily frame but the good part is that it has been making higher lows from the last six sessions. Intervicks was down by around 1% to 13.7 level. Lower volatility is comforting the
[00:01:02] bulls to drive the index at higher zones. Nifty put-call ratio lightly fell to 1.15. Now this fall in volatility along with put-call ratio sustaining at its higher band suggests momentum to continue on the upside. Option data suggests a broader trading range in between
[00:01:22] 23,800 to 24,500 while immediate range is in between 24,100 to 24,300. Moving on to the second segment in the equity cash market, FII's were net sellers to the tune of 2,000 crores while DII's were buyers worth 648 crores. FII's index long-shot ratio
[00:01:45] is at 82% which is at its highest level since May 2021. Going ahead with the index actionable, derivatives data and price setups suggest Nifty has to hold above 24,050 zones to extend the move towards 24,250 then 24,400 whereas supports are placed at 24,000 then 23,900. Bank Nifty
[00:02:11] has to continue to hold above 52,250 for an up-move towards 52,750 then 53,000 levels while a hold below the same could see some profit booking towards 51,950 then 51,750. And finally talking about the sectors and stocks to watch out, positive stance was seen in IT, realities, selective pharma and oil and gas space
[00:02:38] while some profit taking in banks, FMCG, chemical and fertilizers or two and telecom services. Now stocks to keep on radar, a Coatridge property where we've seen a price volume breakout on the tiny frame with the entire sector also providing a tailwind. Mother's son can be seen with support
[00:02:58] pay spying from the last 18 sessions. From the IT pack which is all set to drive the index we have Infosys, Vipro, Coatforge and TCS. HDFC Bank is clearly the saviour from the banking space
[00:03:13] and has given a consolidation breakout which would take the stock higher. And last but not the least Tata Con which has given a volume surge in holding above its key exponential moving average. Wish you a super trading day ahead for more such detailed analysis, don't forget to follow
[00:03:30] this podcast. This is Shivangi Sardar signing off.