In today's episode, host Shivangi Sarda takes you through the latest market developments. We’ll discuss the global rally driven by strong quarterly results from Morgan Stanley, the impact of falling oil prices, and the decrease in the domestic trade deficit.
[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.
[00:00:22] Hey, this is your host Shivangi Sarada and let's look at what happened globally.
[00:00:26] Market is expected to open positively due to a rally in global markets spurned by good quarterly results from US-listed Morgan Stanley and an optimistic earnings forecast.
[00:00:38] Additionally, oil prices have fallen to a two-month low and the domestic trade deficit has decreased to a five-month low.
[00:00:44] To start with our first segment for Thursday, 17 October 2024, Nifty index opened negative and remained choppy throughout the session.
[00:00:53] It failed to cross 25,100 and took support near 24,900 but the journey within this band was a very indecisive one.
[00:01:03] It formed a bearish candle of the daily frame with losses of around 100 points and has been making lower lows from the last two trading sessions.
[00:01:11] India Wix was slightly up at 13 levels, Nifty put call ratio decreased to 0.74 which is making the upside a little gapped.
[00:01:20] Option data suggests a broader trading range in between 24,500 to 25,500 while immediate range is in between 24,700 to 25,200 levels.
[00:01:34] Moving on to the second segment in the equity cash market, FIIs were net sellers to the tune of 3,436 crores while TII's were buyers worth 2,256 crores.
[00:01:47] FYI's index long-short ratio decreased to 33.5%.
[00:01:53] Going ahead with the index actionable, debatives data and price setup suggest Nifty has to cross and hold above 25,000 for the next up move towards 25,250 marks while support can be seen at 24,750 zones.
[00:02:09] Now, Bank Nifty has to hold above 51,650 for a bounce towards 52,500 while on the downside support can be seen at 51,500.
[00:02:20] And finally, talking about the sectors and stocks to watch out, positive stance was seen in some of the OMCs and banking names ruling the space.
[00:02:30] Now, positive setup can be seen in capital goods stocks which includes ABB and Cements holding on from the last one week.
[00:02:37] From the OMC space, we have HPCL looking quite positive.
[00:02:41] From the reality names, we have Godrej Property and DLF showing fresh bride interest.
[00:02:47] While some weakness could be seen in Sinus Live, Lupin, MGL, UPL, SRF, Hero Motor Corp, IGL and Escorts.
[00:02:55] Wish you a super trading day ahead.
[00:02:58] Shivangi Saaddaas signing off.
[00:03:00] Follow this podcast for solid advice.