Struggling to make sense of today’s market trends? Dive into our quick analysis of Nifty’s intraday movements, market data, and top stock picks.
In this episode of Indian Market in Minutes, host Shivangi Sarda unpacks:
- Nifty’s Positive Opening & Recovery: A steep recovery of 230 points shaped the day, forming a support-based buying setup.
- FIIs & DIIs Activity: FIIs were net sellers (-₹3362 crore), while DIIs bought ₹2716 crore.
- Market Indicators: India VIX dropped by 1.33%, signaling reduced volatility, and key levels to watch were identified for Nifty and Bank Nifty.
- Actionable Stock Insights: Positive setups in Oil India, L&T Finance, ONGC, Reliance, and more, while weakness looms for stocks like Paytm, Dixon, and Apollo Hospitals.
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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.
[00:00:36] Nifty index opened positive but slipped to 23,500 in the first half of the session. It was followed by a steep recovery of more than 230 points in the next half and it recouped most of its intraday losses. It formed a small-bodied candle with longer lower shadow which indicates support-based buying at lower levels is intact but absence of follow-up is bringing some sort of instability.
[00:01:00] India Wix was down by another 1.5% to 14.5 levels. Nifty put-call ratio slightly increased to 0.83. Option data suggest a broader trading range in between 23,300 to 24,300 while immediate change is in between 23,500 to 23,900.
[00:01:21] Moving on to the second segment in the equity cash market, FIIs were net sellers to the tune of 3,362 crores while DIIs were buyers worth 2,716 crores. FII's index long-shot ratio decreased to 19%.
[00:01:39] Going ahead with the index actionable, derivatives data and price set-up suggest till the time Nifty holds below 23,800, weakness could be seen towards 23,500.
[00:01:49] While hurdles are placed at 24,000 marks. Till the time Bank Nifty holds below 50,000, some weakness could be seen towards 49,350 levels. While on the upside, hurdle can be seen at 50,000 marks.
[00:02:04] And finally, talking about the sectors and stocks to watch out, positive set-up can be seen in Oil India, ONGC, Reliance, Maruti, Bachaj, FinServ, Dr. Reddy and Tata Consumer.
[00:02:18] While some weakness could be seen in Paytm, Dixon, UBL, Apollo Hospital, IGL, PVR, INOX and JSW Energy.
[00:02:27] Wish you a super trading day ahead.
[00:02:29] Shivani Saadha signing off. Follow this podcast for solid advice.
[00:02:47] Investment and securities market are subject to market risk. Read all the related documents carefully before investing.