In this episode of Indian Market in Minutes by the Motilal Oswal Research Desk, Shivangi Sarda dives into the global market rally for Thursday 12th Dec 2023, following the US November inflation report. With the Fed’s December meeting just around the corner, we analyze how market optimism is shaping up.
We break down today’s Nifty performance, uncover key levels to watch, and explore actionable insights for traders. Discover which stocks like Infosys, Bajaj Finance, and Syngene show positive setups, and which ones like Adani Green and Axis Bank might face headwinds.
Highlights include:
- Nifty’s critical levels: Support at 24400; resistance at 24850
- Bank Nifty’s path to a new lifetime high
- Sector-specific trends and FIIs/DII activity
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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 Test.
[00:00:05] We will be covering technical and derivatives, SII's activity, index, actionable sectors and stocks to watch out.
[00:00:12] So stay tuned till the end.
[00:00:21] Hey, this is your host Shivangi Saarda and let's look at what happened globally.
[00:00:26] Rally across the global markets was seen after the US November inflation data came in line with the expectations.
[00:00:32] This raised hopes that the US Fed would most likely cut interest rates on the 18th of December meeting.
[00:00:39] Positive sentiments in the markets are due to the strong retail participation through SIP, rally in the global markets and intermittent FII's buying interest.
[00:00:49] Focus on IT stocks due to Global IT Major Index Nasdaq Composite crossing psychological level of 20,000 levels.
[00:00:57] To start with our first segment for Thursday, 12th of December 2024, Nifty Index opened flattish and witnessed steady buying in the first half of the session.
[00:01:07] The second half witnessed some profit taking but overall remained in a very narrow range of 100 points throughout the day.
[00:01:13] It formed a doji sort of a candle on the daily frame and negated its lower highs formation of the last three trading sessions.
[00:01:20] Adia Wix was down by another 3.5%, 13.3 levels.
[00:01:25] Nifty put call ratio marginally increased to 0.87.
[00:01:30] Option data suggests a broader trading range in between 24,200-25,000 levels.
[00:01:37] While immediate trade is in between 24,400-24,800.
[00:01:42] Moving on to the second segment in the equity cash market, FII's were net sellers to the tune-off, 1,012 crores, while DII's were buyers worth 2,800 crores.
[00:01:54] FII's index long-shot ratio decreased to 43.4%.
[00:01:59] Going ahead with the index actionable, Devitae's data and price setup suggests Nifty has to hold above 24,550 for an up move towards 24,700 and 24,815 marks,
[00:02:13] while support can be seen at 24,500 and 24,400.
[00:02:18] Bank 50 has to hold above 53,150 for an up move towards 54,000 than its previous lifetime high levels, while support can be seen shifting higher to 53,150.
[00:02:32] And finally, talking about the sectors and stocks to watch out, positive setup can be seen in Infosys, Vedanta, Pichaj Finance, Geo Finance, PEL, Trent and JK Cement.
[00:02:44] While some weakness could be seen in Max Financial, Glenmark, Aurobinder Pharma, Adani Enterprise, Adani Green and ITA.
[00:02:53] Wish you a super trading day ahead.
[00:02:55] Shivangi Saadha signing off.
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