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, FII's activity, index actionable sectors and stocks to watch out. So stay tuned till the end.
[00:00:14] Hey this is your host Shivangi Sardar and to start with our first segment for Tuesday 25th June 2024. Nifty index opened negative but witnessed smart recovery with the support of 23,350 and headed towards 23,550 levels. Supply is getting absorbed with the bullets awakening at support zones.
[00:00:44] It formed a bullish candle on the daily frame and closed near its days high with gains of around 40 points. India Rigs was up by 6.7% to 14 zones. Modernity has been slightly on the rise which is causing some bumpy ride on the upside direction. Nifty put call ratio rose to 1.14.
[00:01:06] Slight rise in volatility along with the rise in put call ratio suggests momentum on the upside with support base bank. Option data suggest a broader trading range in between 23,200 to 24,000 levels. While immediate change is in between 23,300 to 23,700.
[00:01:26] Moving on to the second segment in the equity cash market, FII's were net sellers to the tune of 654 crores while DII's were sellers worth 820 crores while FII's long shot ratio increased to 59%.
[00:01:43] Going ahead with the index actionable, derivatives data and price setup suggest Nifty has to continue to hold above 23,500 to extend this move towards 23,667 and 23,750. Whereas supports are placed at 23,400 then 23,250.
[00:02:05] Bank Nifty has to continue to hold above 51,500 for an upside move towards its recent lifetime high of 51,957 and then 50,000 to 250. While on the downside support is placed at 51,500 then 51,250.
[00:02:24] And finally talking about the sectors and stocks to watch out, positive stance was seen in selective auto consumer durables and defense names.
[00:02:34] Stocks to keep on radar has to be very stock specific as index has got stuck in a broader trading range but good part is that every small decline is being bought.
[00:02:45] From the stocks we have Havild which is showing strength, a show glen from the auto space which continues consistently, Astral is showing a price volume breakout,
[00:02:56] HAL is getting ready for the fresh move and leg of rally, Part the airtel can be seen where bulls are active with volumes and finally JSW Steel which is picking up strength in this broader market.
[00:03:09] Wish you a super trading day ahead. For more such detailed analysis don't forget to follow this podcast. This is Shivanti Sardar signing off. Investment and securities market are subject to market risk. Read all the related documents carefully before investing.