Updates for 28th May 2024

[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

[00:00:12] and stocks to watch out.

[00:00:14] So stay tuned till the end.

[00:00:16] Hey, this is your host Shivanti Sarada and to start with our first segment for Tuesday

[00:00:30] 28th May 2024.

[00:00:33] Nifty index opened positive above 23,000 and went on to touch a fresh all-time high of 23,110

[00:00:41] lbs. However, it was followed by some profit-booking in the second half of the session and gave

[00:00:47] up most of its intraday gain.

[00:00:49] India Wix was up by 7% to 23 levels.

[00:00:54] Nifty put-call ratio decreased to 1.02. Vault literally spiked above 26 levels during the

[00:01:01] session and added momentum at the lifetime high zones. However, Wix needs to fall below

[00:01:07] 16-18 zones for stability and a smoother ride in the market ahead of the election phases.

[00:01:14] Along with this, a stabilizing put-call ratio indicates that there was support baseline

[00:01:19] visible.

[00:01:21] According data suggests a broader trading range in between 22,500 to 23,500 while immediate

[00:01:28] range is in between 22,800 to 23,200.

[00:01:34] Moving on to the second segment in the equity cash market, FII's were net sellers to the

[00:01:39] tune of 541 kroners while DII's were buyers worth 923 kroners.

[00:01:45] FII's index long-short ratio increased to 52%.

[00:01:50] Going ahead with the index actionable, derivatives data and price setup suggests Nifty has to

[00:01:56] hold above 22,900 for an up-move towards 23,200 and 23,350, whereas supports are placed at

[00:02:05] 22,850 then 22,700 zones.

[00:02:10] Nifty has to continue to hold above 49,000 for an up-move towards 49,500 then 50,000

[00:02:17] zones while on the town side support has shifted higher to 49,000 then 48,750.

[00:02:25] And finally talking about the sectors and stocks to watch out, positive stands

[00:02:30] within in reality banking auto and selective farmer stocks while minor profit booking

[00:02:36] declined in consumption stocks. Now stocks to keep on radar at which are showing

[00:02:41] strength, firstly auto index is holding the new high-tire tree with strength so a

[00:02:47] short-lane line escorts and excited industries on radar.

[00:02:51] Adding to this is Balkrishna Industries. Moving on to the private banking space

[00:02:56] we have AXS Bank which is showing resonance over here.

[00:03:00] Humans India continues to show strength after the whole of the last two three sessions.

[00:03:06] Adding to this HBCL, BPCL and IOC are also one of the strongest counters in this sector.

[00:03:13] Indian Hotel is showing a consolidation breakout on the daily frame.

[00:03:18] Wish you a great trading day ahead. For more such detail that that is says

[00:03:22] don't forget to follow this podcast. This is Shivanti Sardar signing off.

[00:03:26] Investment and securities market are subject to market risk. Read all the related documents carefully before investing.