Catch the latest global market updates and actionable insights for January 28th, 2025. In today’s episode, host Shivangi Sarda dives deep into the market’s reaction to the RBI's ₹60,000 crore government securities purchase and its potential impact on liquidity and interest rates. She also discusses important stock recommendations, including those with positive setups like Bank of India, Torrent Pharma, and ICICI Bank, as well as sectors to keep an eye on amidst market weakness.
With global sentiment improving, the Nifty index is showing signs of volatility, and Shivangi shares critical levels to watch, including key support and resistance zones. Stay ahead of the curve with expert analysis of derivatives data and price setups for Nifty and Bank Nifty. Plus, learn about market-moving stocks and sectors, including potential growth opportunities for investors.
Key Highlights:
- RBI’s ₹60,000 crore purchase and USD/rupee swap auction
- Market outlook and Nifty’s support/resistance levels for today
- Key stocks to buy and watch: Bank of India, HUL, Maruti, ICICI Bank
- Market sentiment & the Finance Minister’s Union Budget expectations
- Derivatives data and its impact on short-term market moves
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[00:00:00] Welcome to Indian Market in Minutes from Motilal Oswal's research desk. We will be covering technical and derivatives, SII's activity, index, actionable sectors and stocks to watch out. So stay tuned till the end. Hey, this is your host Shivangi Sarada and let's look at what happened globally.
[00:00:26] Market is expected to open on a positive note driven by improved sentiment after the RBI's announcement on Monday that it will purchase Rs 60,000 Cr worth of government securities through open market operations.
[00:00:37] and conduct a $5 billion USD swap auction. These measures are anticipated to ease liquidity conditions and increase the likelihood of an interest rate cut at the upcoming RBI policy meeting in February, offering relief to the banking sector and concerns over high liquidity deficits. Market participants are also hopeful that the Finance Minister will unveil a growth-boosting union budget, especially after GDP growth fell below 7%.
[00:01:07] To start with our first segment for Tuesday, 28th Jan 2025, Nifty Index opened cap down by almost 150 points and sank lower throughout the day to breach an important support level and touched an intraday low of 22,786 marks. It witnessed a tad bit recovery in the last hour but closed with losses of around 260 points. It formed a bearish candle on the daily frame and has started making lower lows on the daily chart.
[00:01:35] India Wix was up by around 8% to 18.13 levels. Nifty put call ratio decreased to 0.75. Option data suggests a broader trading range in between 22,300 to 23,300, while immediate range is in between 22,600 to 23,100.
[00:01:56] Moving on to the second segment in the equity cash market, FIIs were net sellers to the tune of 5,015 Crores, while DIIs were buyers worth 6,642 Crores. FIIs index long-short ratio increased to 22.5%.
[00:02:12] Going ahead with the index actionable, derivatives data and price set-up suggest, till the time Nifty holds below 22,950, weakness could be seen towards 22,650 and 22,500, while hurdles can be seen at 22,950, then 23,050 zones.
[00:02:31] Till the time Bank Nifty holds below 48,250, weakness could be seen towards 47,500, while on the upside, hurdle can be seen at 48,500, where a lot of call writers are present. And finally, talking about the sectors and stocks to watch out, positive set-up can be seen in Bank of India, Torrin Pharma, ICICI Bank, JK Cement and Maruti.
[00:02:57] While weakness could be seen in CDSL, Supreme Industries, LTI Mindry, United Spirits and BSoft. Wish you a super trading day ahead. Shivangi Sardar signing off. Follow this podcast for solid advice.