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.
With 30+ years of equity expertise and dedicated advisors at your service, access investing opportunities in 550+ cities across 2200+ locations.
[00:00:00] Welcome to Indian Market in Minutes from the Motilal Oswal Research Desk. We will be
[00:00:06] covering technical and derivatives, FII's activity, index actionable, sectors and stocks
[00:00:11] to watch out. So stay tuned till the end.
[00:00:25] Here this is your host Shivani Sardar and to start with our first segment for Friday
[00:00:29] 7th June 2024. Nifty Index opened gap up by almost 180 points and witness swings
[00:00:37] within a range throughout the day. It took support near 22650 and went on to cross 22900
[00:00:44] zones. Finally closed with gains of around 200 points. It formed a small-bodied bullish
[00:00:50] candle on the daily frame with longer lower shadow indicating that support base buying
[00:00:55] is in debt. It has also started to form higher lows from the last two sessions.
[00:01:02] Indiawix cooled off by 12.5% to 16.5%. Volatility crashed for the second consecutive day and converted
[00:01:10] the bulls to gold at higher zones. Nifty put call ratio increased to 1.03. Now this fall
[00:01:17] in Indiawix along with a rising PCR indicates good buying from support levels. Option data
[00:01:23] suggest a broader trading range in between 22,200 to 23,500 while immediate range is in
[00:01:31] between 22,500 to 23,100.
[00:01:37] Moving on to the second segment in the equity cash market, FII's were net sellers to the
[00:01:43] tune of 6,868 crores while DII's were buyers worth 3,718 crores. FII's long short ratio
[00:01:52] marginally decreased and is at 17.2%. Going ahead with the index actionable, derivatives
[00:02:00] data and price setup suggest Nifty has to hold above 22,750 for an upside move towards
[00:02:08] 22,950 then 23,100 whereas support's uplays at 22,650 then 22,450.
[00:02:18] Head of the RBI policy, we may witness swings in bank Nifty and it has to continue to hold
[00:02:24] above 48,888 for a bounce toward 49,750 then 50,000 zones while on the downside support
[00:02:32] is seen at 48,888 then 48,500.
[00:02:37] And finally talking about the sectors and stocks to watch out, positive stance was
[00:02:42] seen in most of the sectors mainly PSU, reality, IT, consumer durables while profit
[00:02:48] booking declined in some of the FMCG and selective pharma names.
[00:02:52] Stocks to keep on radar, Nifty Auto is at its lifetime high in levels and some of
[00:02:59] the auto stocks are showing resilience including the charge auto, escorts and
[00:03:03] excite industries. Consumption is also on focus which includes trend, ABFRL,
[00:03:10] UBL and McDowell. Some of the IT names are also showing revival which includes Dixon,
[00:03:17] Infi and TCS. Wish you a great trading day ahead for more such detailed
[00:03:23] analysis don't forget to follow this podcast. This is Shivangi Sardar signing off.
[00:03:42] Investment and securities market are subject to market risk. Read all the
[00:03:46] related documents carefully before investing.