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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[00:00:01] Hey, this is your host Shivanki Sardar and let's look at what happened globally.
[00:00:19] Asian markets are experiencing a strong rally along with US and European markets recording
[00:00:24] modest gains and closing at record highs after better than expected US PMI data and supportive
[00:00:30] comments from their Fed officials.
[00:00:32] Continued interest from the FYI's in our domestic market is likely to boast the market confidence.
[00:00:38] To start with our first tech ring for Tuesday 24th of September 2024, Nifty Index opened
[00:00:44] gap up by 18 points and continued holding on to the highest zones.
[00:00:49] The first half of the day witnessed consolidation but was followed by a good action and the
[00:00:53] index hit a fresh all-time high of 25,956 levels.
[00:00:58] It gave the highest ever closing and closed at its higher band with gains of around 150 points.
[00:01:04] It formed a bullish candle on the daily frame and has been forming higher highs from the
[00:01:08] last goal session.
[00:01:10] India wicks was up by 7.8% to 13.8 levels, Nifty put call ratio slightly decreased to
[00:01:18] 1.42.
[00:01:19] Now, a higher put call ratio is suggesting that put riders are making a strong base.
[00:01:25] Option data suggests a broader trading range in between 25,500 to 26,500 while immediate
[00:01:32] range is in between 25,700 to 26,200.
[00:01:38] Moving on to the second segment in the equity cash market, FIIIs were buyers to the
[00:01:43] Tula of 4.04 crores while DIIIs were buyers worth 1,023 crores.
[00:01:49] FIII's indexed low short ratio is at 75%.
[00:01:53] Going ahead with the index actionable, derivatives data and price setup suggests Nifty has to
[00:01:59] go above 25,850 for an up-move towards 26,050 but then 26,200 while supports are placed
[00:02:07] at 25,850 then 25,750.
[00:02:11] That Nifty has to continue to hold above 53,750 for the next up-move towards 54,500
[00:02:18] then 55,000 levels.
[00:02:20] While on the downside support can be seen at 53,750 levels.
[00:02:26] And finally talking about the sectors and stops to watch out, positive stats were seen
[00:02:31] in most of the sectors across sport.
[00:02:34] Now stocks to keep on radar from the auto space we have Escorts, M&M, Bajaj Auto and
[00:02:40] Hero MotoCop looking quite positive.
[00:02:43] BFSI, we have M&M Finance, MFSL, ICICI Pro, SPI in Live, Kotak Bank and HDFC in Live holding
[00:02:51] on to the highest zones.
[00:02:53] Adding to this from the consumption space we have Indian Hotel at Hindustan, Uttar Pradesh
[00:02:57] looking quite positive.
[00:02:59] While some weakness could be seen in Xinjin, Concorde, Auropharma, TCS, Grass Seen,
[00:03:04] Parath Poach and Zidus Life.
[00:03:06] Wish you a super trading day ahead.
[00:03:09] Shubhanti Sarbha is signing off.
[00:03:11] Follow this podcast for solid advice.
[00:03:26] Investment and securities market are subject to market risk.
[00:03:30] Read all the related documents carefully before investing.