10th January 2025 Pre-Market Analysis

Introduction

This report provides an overview of the recent market performance, key economic indicators, and notable stocks in both bullish and bearish situations as of January 10th, 2025.

Key Points

1. Market News

• GIFT Nifty: Trading lower, indicating a negative start.
• Indian Equities: Declined for two consecutive days, influenced by cautious sentiment ahead of Q3 earnings.
• US Equities: Closed due to a holiday; bond yields dropped significantly.
• Currency Markets:
  • Brent Crude and WTI crude rose by 0.4%.
  • Gold gained for the third consecutive day.
  • Indian Rupee: Closed one paise weaker at 85.86.

2. Technical Analysis

Nifty-50

• Candlestick Pattern: Bearish, below 200-day EMA (23,700).
• Indicators:
  • RSI: 39.51
  • MACD: Below zero, signaling a negative trend.
• Key Pivot Levels:
  • Support: 23,644 | 23,688 | 23,759
  • Resistance: 23,502 | 23,458 | 23,387

Nifty Bank

• Candlestick Pattern: Bearish with lower highs for five sessions.
• Indicators: Negative momentum signals continued weakness.
• Key Pivot Levels:
  • Support: 49,728 | 49,862 | 50,079
  • Resistance: 49,294 | 49,160 | 48,943

3. Key Stocks

Bullish Stocks

• IRB Infrastructure: Toll collection rose by 31%.
• Adani Total Gas: 20% increase in APM allocation (effective Jan 16).
• Mahanagar Gas: 26% rise in domestic gas allocation.
• Mazagon Dock: Delivered sixth Scorpene-class submarine.
• Polyplex Corporation: Investing ₹558 crore in a new plant.
• Surya Roshni: Secured ₹81.5 crore order for CGD project.
• Zensar Technologies: Interim dividend to be declared on Jan 22.

Bearish Stocks

• TV Today Network: Tribunal dismissed IT appeals.
• Uno Minda: Received GST demand of ₹18.79 crore.
• GTPL Hathway: Profit dropped by 57% in Q3.

4. Sector-Wise Analysis

• Top Performing NSE Sectors (1 Week Performance):
  • Nifty Low Volatility 50 (+0.98%)
  • Nifty Growth Sectors 15 (+0.89%)
  • Nifty FMCG (+0.84%)
  • Nifty Oil & Gas (+0.78%)
  • Nifty Auto (+0.72%)

Volume Shockers

• Nifty Next 50 Stocks (High Volume):
  • Zydus Lifesciences: CMP 1010
  • Havells: CMP 1630

5. Long&Short Build Stocks

Long Build-Up Stocks

• Top Stocks (Change in Futures Open Interest):
  • Chamblfert (+21.10%)
  • LICI (+14.80%)
  • CESC (+14.40%)
  • Kalyankjil (+11.20%)
  • OIL (+10.50%)

Short Build-Up Stocks

• Top Stocks (Change in Futures Open Interest):
  • Navinflour (+34.10%)
  • SRF (+22.40%)
  • IGL (+18.30%)
  • Kotakbank (+8.20%)
  • Britannia (+7.80%)

6. Market Sentiment

• FIIs: Net sellers (-₹7,170.87 crore on Jan 9).
• DIIs: Net buyers (+₹7,639.63 crore on Jan 9).
• Put-Call Ratio (PCR): Indicates market sentiment trends.

Conclusion

The market is set for a cautious start with mixed signals from international markets and local economic indicators. Investors should continue to monitor key stocks and market indices for potential movements in both bullish and bearish directions, keeping an eye on upcoming economic data and geopolitical events.