Welcome to Indian Market in Minutes by the Motilal Oswal Research Desk! In this episode, host Shivangi Sarda breaks down:
- Domestic inflation at a 4-month low (5.2%) sparking RBI rate cut hopes.
- Highlights from HCL Tech and TCS's strong quarterly earnings.
- A detailed analysis of Nifty’s sharp 340-point drop, forming a bearish pattern, and key levels to watch.
- Nifty Index: Major support at 22650 with hurdles at 23350.
- Bank Nifty: Watch 48500 for resistance; downside targets 47250.
- Sector Focus: Positive moves in Biocon, TCS, and BSE; Weakness in PB Fintech, IOC, and more.
- FII/DII Action: FIIs sold ₹4893 crores; DIIs bought ₹8066 crores.
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[00:00:00] Welcome to Indian Market in Minutes from Motilal Oswal 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 Sarda and let's look at what happened globally.
[00:00:26] The market is expected to open on a positive note driven by several factors including a drop in domestic inflation to a four-month low of 5.2%, raising hopes for an interest rate cut by the RBI. Additionally, strong quarterly results from HCL Tech and TCS, a 16% Y-on-Y rise in the domestic tax collection and a recovery in the global markets should boost market sentiment. But before we move ahead, wishing you all a very happy Makar Sakranthi.
[00:00:55] To start with our first segment for Tuesday 14 January 2025, Nifty Index opened gap down by more than 200 points and after the initial pullback move, it cascaded throughout the day. It fell by almost 300 points during the day and took some breather near 23,015 marks. Now bears were in full control and the index closed with losses of around 340 points. It formed a bearish candle on the daily frame and has been making lower highs from the last seven trading sessions.
[00:01:25] India WIX spiked above 16 levels and it was up by 7%. Nifty put call ratio decreased to 0.72. Option data suggest a broader trading range in between 22,500 to 23,500, while immediate range is in between 22,900 to 23,300 levels.
[00:01:46] Moving on to the second segment in the equity cash market, FIIs were net sellers to the tune of 4,893 crores, while DIIs were buyers worth 8,066 crores. FIIs' index long-shot ratio marginally decreased to 15.5%. Going ahead with the index actionable, derivatives data and price setups suggest, till the time Nifty holds below 23,200, weakness could continue towards 22,800.
[00:02:18] While hurdles can be seen at 23,200 and 23,350 levels. Till the time bank Nifty holds below 48,500, weakness could be seen towards 47,250 marks, while on the upside, hurdle can be seen at 48,500. And finally, talking about the sectors and stocks to watch out, selective stocks can witness positive setups like Biocon, BSC, TCS and HUL.
[00:02:45] While weakness could be seen in Kalyan Jhulas, Naukri, CG Power, SUVN, SAIL, Dixon and GMR airports. Wish you a super trading day ahead. Shivangi Saada signing off. Follow this podcast for solid advice.
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