13th 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 13th, 2025.

Key Points

1. Market News

• GIFT Nifty trading weakly, indicating a negative start.
• Indian equities closed lower on Friday due to financial, pharmaceutical, and energy sectors.
• Gains in IT stocks offset broader losses.
• Wall Street’s focus on US CPI data; Fed rate cut uncertainty grows.
• Treasury yields rise: 10-Year (4.75%), 2-Year (4.37%).
• Commodities: Brent crude up 1.73% ($81.14); WTI crude up 1.92% ($78.04).
• Indian rupee hit a record low of ₹85.97 against the US dollar.

2. Technical Analysis

Technical Analysis (Nifty-50):

• Bearish candlestick pattern with six consecutive lower highs.
• Trading below 200-day EMA and within lower Bollinger Bands.
• RSI: 37.8, indicating negative sentiment.
• Key support levels: 23,554, 23,613, 23,710.
• Key resistance levels: 23,361, 23,302, 23,205.

Technical Analysis (Nifty Bank):

• RSI: 28.50 (oversold zone, potential short-term bounce).
• Long bearish candlestick; trading below key moving averages.
• Key support levels: 48,624, 48,423, 48,098.
• Key resistance levels: 49,275, 49,476, 49,801.

3. Key Stocks

Key Bullish Stocks:

• Interarch Building Projects: ₹221 crore order.
• Signature Global: Acquiring 16.12 acres in Gurugram.
• Waaree Energies: Acquiring Enel Green Power India for ₹792 crore.
• Just Dial: Net profit +42.7% (₹131.3 crore).
• JSW Energy: Acquiring 125 MW renewable portfolio (₹630 crore).
• Laxmi Dental IPO: ₹698 crore, price band ₹407-₹428 (13–15 Jan).

Key Bearish Stocks:

• Biocon: USFDA classifies Malaysian site as VAI.
• Ola Electric: Investigations into complaints.
• Star Cement: Promoter pledges 1 million shares.

4. Sector-Wise Analysis

• • Top Performing NSE Sectors (Week Change %):
    • Nifty IT: +2.02%
  • Volume Shockers from Nifty Next 50 (Volume > 1.5x average):
    • BEL: CMP ₹204
    • REC: CMP ₹459
    • IRCTC: CMP ₹779
    • DLF: CMP ₹752
    • Adani Total Gas: CMP ₹681

5. Long&Short Build Stocks

Long Build-Up Stocks (OI Change %):

• Shriram Finance: +80.40%
• Tata Elxsi: +26.80%
• Paytm: +14.30%
• KPIT Tech: +9.80%
• D-Mart: +7.80%

Short Build-Up Stocks (OI Change %):

• Mphasis: +8.60%
• AU Bank: +4.10%
• HCL Tech: +4.00%

6. Market Sentiment

• FIIs (Foreign Institutional Investors): Net Sellers, with a net outflow of ₹2,254.68 crore in the cash segment.
• DIIs (Domestic Institutional Investors): Net Buyers, with a net inflow of ₹3,961.92 crore in the cash segment.

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.