In this episode, the host, Shivangi Sarda, shares insights into strategic trading decisions based on current market data and technical analysis.
Key segments cover technical insights, FII activity, index actionable, and sectors to watch, highlighting Nifty's potential highs, volatility impact, and strong stocks.
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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.
[00:00:15] Hey, this is your host Shivangi Saadha and let's look at what happened globally overnight.
[00:00:27] The market is expected to open V due to declines across global markets ahead of major US earnings reports and profit-taking throughout.
[00:00:35] To start with our first segment for Tuesday, 22 October 2024, Nifty Index opened positive but started right from the bears taking over in the first hour of the session.
[00:00:46] It remained range bound for most part of the day with dent across the market breadth.
[00:00:51] It formed a bearish belt hold sort of a candle of the daily frame which indicates that bears had complete control and closed below 24,800 zones.
[00:01:00] India WIX was up by another 5.5% to 13.8 levels.
[00:01:05] Nifty put-call ratio also decreased to 0.81.
[00:01:09] Now, these factors indicate that bulls had become uncomfortable and paved way for the bears.
[00:01:14] Option data suggest a broader trading range in between 24,500 to 25,300, while immediate range is in between 24,600 to 25,000 levels.
[00:01:26] Moving on to the second segment in the equity cash market, FIIs were net sellers to the tune of 2,262 crores and DIIs continue buying and were buyers worth 3,226 crores.
[00:01:39] FII's index long-shore trade should decrease to 33%.
[00:01:43] Going ahead with the index actionable, debitors' data and price setup suggest,
[00:01:48] till the time Nifty holds below 24,850, some more weakness could be seen towards 24,500 levels, while hurdles are placed at 25,000 zones.
[00:01:58] Till the time Bank Nifty holds 51,750, some bounce could be seen towards 52,500 and 52,750 for that matter, while a hold below the same could see weakness towards 51,500.
[00:02:13] And finally, talking about the sectors and stocks to watch out, negative stats were seen in most of the sectors across both due to profit booking.
[00:02:21] Now, some selective stocks can be kept on radar, positive setup can be seen in some of the auto names like TVS Motor, Aisha Motor and M&M which are witnessing buying from support zones.
[00:02:32] From the insurance space, we have ICICI Pro looking quite positive.
[00:02:37] From the banking names, we have HDFC Bank holding on to the entire market.
[00:02:41] From the real estate space, Obray reality looks quite good, while weakness could be seen in a lot including India Mart, RBL Bank, Tata Consumer, NTF CoForge, Kotak Bank, Manapuram, Bandhan Bank, BPCL, JMR Infra, IOC, Bajaj FinServe, Indusin Bank, SPI Card, Gujsharaac Gas and Concor.
[00:03:02] Wish you a super trading day ahead.
[00:03:04] Shivanti Sarada signing off.
[00:03:06] Follow this podcast for solid advice.