In today’s episode of Indian Market in Minutes, we discuss the global market rally, Nifty’s potential, and actionable stock picks for January 20, 2025. Tune in for expert insights on key market trends!
The market is showing positive momentum driven by a global rally, better-than-expected Q3 earnings from major companies, and easing geopolitical tensions. Despite early selling pressure on the Nifty, we dive deep into the price action, technical levels, and what this means for traders.
*Key Highlights:*
- *Global market rally*: Strong earnings reports from ICICI Lombard, Wipro, and others boost market sentiment.
- *Nifty analysis*: After initial selling, Nifty shows resilience, with key levels between 23,000 to 23,500 to watch.
- *FII and DII activity*: FIIs were net sellers, while DIIs showed strong buying interest.
- *Sectoral breakdown*: Stocks to watch include Manappuram, HAL, BSE, and Reliance for potential gains, while Infy and Axis Bank face weakness.
- *Technical Levels*: Nifty faces hurdles at 23,333, while key support lies at 23,000. Bank Nifty shows weakness below 48,750.
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[00:00:00] Welcome to Indian Market in Minutes from Motilal Oswal Research Dev. 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] The market is expected to open on a positive note due to several favourable factors. Now, some market sentiments include a rally in the global market, better-than-expected Q3 results from companies like ICICI Lombard, Vipro, Tech Mahindra and Kotak Bank, easing geopolitical tensions in the Gulf and a decline in the US dollar and 10-year GSEC yield driven by expectations of a rate cut by the US Fed Reserve.
[00:00:52] To start with our first segment, for Monday, 20th Jan 2025, Nifty index opened on a negative note and faced selling pressure in the initial hour of the session, pushing the index down towards 23,100. However, buying was seen at lower levels as the index inched higher slowly for the rest of the day. Despite the intraday recovery, momentum was lacking on the upper side as Nifty struggled to cross 23,333 marks.
[00:01:19] India Wix was up by another 2% to 15.7 levels. Nifty put call ratio decreased to 0.91. Option data suggests a broader trading range in between 22,700 to 23,700, while immediate range is in between 23,000 to 23,500.
[00:01:39] Moving on to the second segment in the equity cash market, FIIs were net sellers to the tune of 3,318 crores, while DIIs for buyers were 2,573 crores. FII's index long-shot ratio slightly decreased to 15.5%. Going ahead with the index actionable, Derivative's data and price setup suggest,
[00:02:02] Till the time Nifty holds below 23,333, weakness could be seen towards 23,000 and 22,900, while hurdles can be seen at 23,500. Till the time Bank Nifty holds below 48,750, some weakness could be seen towards 48,000 and 47,750, while on the upside, hurdle can be seen at 49,000.
[00:02:25] And finally, talking about the sectors and stocks to watch out, positive setup can be seen in Manapuram, HAL, BSC, LTTS, Reliance and SRF. While some weakness could be seen in Infosys, Access Bank M&M, HCL Tech, KPIT Tech and Supreme Industries. Wish you a super trading day ahead. Shivangi Sardar signing off. Follow this podcast for solid advice.
[00:03:04] Investment and securities market are subject to market risk. Read all the related documents carefully before investing.