In this episode, the host, Shivangi Sarda, explores positive trends in IT and retail sectors..
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 Motilal Oswal Research Desk. We will be covering technical
[00:00:06] and derivatives, SII's activity, index, actionable sectors and stocks to watch out. So stay tuned till the end.
[00:00:14] Hey, this is your host Shivanki Saarda and to start with our first segment for Thursday 24th October 2024,
[00:00:29] Nifty index opened negative but witnessed some buy in the first hour of the session. However,
[00:00:34] it failed to hold above 24,600 and saw selling pressure back in the index in the second half.
[00:00:41] It formed an inverted hammer on a high-wave sort of a candle on the daily frame which indicates that
[00:00:47] upside remains capped. India Wix was up by another 1.5% to 14.6 levels. Nifty put call ratio increased to 0.79.
[00:00:57] Option data suggests a broader trading range in between 24,000 to 24,800, while immediate range is
[00:01:06] in between 24,200 to 24,600 zones. Moving on to the second segment in the equity cash market,
[00:01:14] FII's were net sellers to the tune of 5,685 crores, while DII's were buyers worth 6,040 crores.
[00:01:23] FII's index long-shot ratio increased to 32.5%. Going ahead with the index actionable,
[00:01:31] derivative data and price setups suggest, still Nifty holds below 24,500, weakness could be seen
[00:01:37] towards 24,350, then 24,250 zones, while hurdles are placed at 24,600, then 24,750 zones.
[00:01:47] Till the time back Nifty holds below 51,555, weakness could be seen towards 51,000 levels,
[00:01:56] while on the upside hurdle can be seen at 51,750. And finally, talking about the sectors in stocks to
[00:02:03] watch out, positive stats were seen in IT, retail space stocks and selective banking counters.
[00:02:10] Now, stocks to keep on radar, positive setup can be seen in some of the IT names which includes
[00:02:15] Coforge, Persistent, Emphasis, BSoft, LTTS, Dixon, TechM, and HCL Tech. From the exchange-related
[00:02:24] counters, BSC and MCX looks quite promising, witnessing fresh buying at the higher zones.
[00:02:30] While weakness could be seen in ABV, Siemens, Bher, Alchem, Cummins India,
[00:02:35] Sale, Concord, Lupin, Adani Ports, IDFC First Bank, Power Grid, Sibla, L&T, and Oro Farmer.
[00:02:44] Wish you a super trading day ahead. Shivanki Sardas signing off. Follow this podcast for solid advice.
[00:03:03] Investment and securities market are subject to market risk.
[00:03:06] Read all the related documents carefully before investing.