Here are the market updates for Monday, 13th May, 2024, brought to you by Motilal Oswal Research Desk
[00:00:00] Welcome to Indian Market in Minutes from the Motilal Oswal Research Desk.
[00:00:06] We will be covering technical and derivatives, FII's activity, index actionable, sectors
[00:00:13] and stocks to watch out.
[00:00:15] So stay tuned till the end.
[00:00:17] Hey this is your host, Shivangi Sardar and to start with our first segment for Monday
[00:00:31] 13th May 2024, Nifty Index opened positive and witnessed a pullback move to 22-131 levels
[00:00:42] but moved in a range of its opening tick thereafter for the entire session.
[00:00:48] It took respite near 21,950 and closed with gains of around 100 points.
[00:00:55] India Wix was up by 1.5% to 18.5.
[00:01:00] Nifty put call ratio marginally increased to 0.91.
[00:01:05] Volatility spiked above 19 at its 16 months high and created swings in the market.
[00:01:12] This along with the rise in the put call ratio indicates that there was some respite
[00:01:17] to the bulls at lower levels.
[00:01:20] Vity is increasing ahead of the election phases which could cause a bumpy ride in the
[00:01:26] market for the time being.
[00:01:28] Option data suggests a broad out trading range in between 21,500 to 22,500 while immediate
[00:01:37] range is in between 21,800 to 22,300.
[00:01:43] Moving on to the second segment, in the equity cash market, FII's continue to
[00:01:48] sell and were net sellers to the tune of 2118 crores while DIIs were buyers worth 2710 crores.
[00:01:59] FII's indexed long shot ratio marginally increased to 34%.
[00:02:05] Going ahead with the index actionable, derivatives data and tri-setup suggests Nifty has to hold
[00:02:12] above 22,000 for a bounce towards 22,222 then 22,350 levels whereas supports are placed at
[00:02:21] 21,850 then 21,700.
[00:02:26] Till Bank Nifty holds below 47,777 further weakness could be seen towards 47,000 then
[00:02:34] 46,750.
[00:02:36] While on the upside, hurdle is seen at 47,777 then 48,000.
[00:02:44] Finally talking about the sectors and stocks to watch out, positive stance was seen in
[00:02:49] auto, FMCG, capital goods, power and energy stocks while profit booking in reality, hotel
[00:02:58] and tourism back.
[00:03:01] Stocks to keep on radar be very selective in stock picking as index is struggling
[00:03:06] near its psychological 22K marks.
[00:03:10] Stocks which are showing strength are Aishah Mota, Maruti from the auto pack which are
[00:03:17] holding its gains for a fresh leg of Rani.
[00:03:20] ABFRL has seen a base formation after the profit booking decline of the last 1B.
[00:03:28] Bharti Airtel is holding for a fresh move.
[00:03:32] HUL is negating its lower top, lower bottom formation on the weekly frame and this could
[00:03:38] play as a defensive role.
[00:03:41] Wish you a great trading day ahead.
[00:03:43] For more such detailed analysis don't forget to follow this podcast.
[00:03:48] This is Shivangi Sardar signing off.
[00:04:03] Investment and securities market are subject to market risk.
[00:04:07] Read all the related documents carefully before investing.