14th 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 14th, 2025.

Key Points

1. Market News

GIFT Nifty suggests a positive start, despite four consecutive days of Indian equity losses.

• India’s December retail inflation dropped to 5.22% from 5.48% in November.
• Mixed performance in Asia-Pacific stocks.
• US indices closed mixed on Monday after a tech stock selloff.
• WTI crude oil: $78.69 (-0.16%), Brent crude: $80.82 (-0.24%).
• Indian rupee fell to a record low of 86.60 (-62 paise intraday).

2. Technical Analysis

• Nifty-50:
  • Bearish candlestick with high trading volumes.
  • RSI at 32.2 (near oversold), MACD indicates weakness.
  • Key Pivot Levels:
    • Support: 23,046 | 22,976 | 22,864
    • Resistance: 23,270 | 23,340 | 23,452
• Nifty Bank:
  • Four-session decline, RSI at 25.31 (oversold).
  • Key Pivot Levels:
    • Support: 47,912 | 47,744 | 47,474
    • Resistance: 48,452 | 48,620 | 48,890
• Change in Open Interest (OI):
  • High OI in calls: Indicates resistance.
  • High OI in puts: Indicates support.

3. Key Stocks

• Bullish:
  • Bharat Electronics: ₹561 crore orders.
  • ITI: ₹64 crore orders (Wi-Fi, LAN, security systems).
  • Torrent Pharma: Interim dividend on Feb 1.
  • Others: Zee Media, JSW Energy, Quess Corp, Electronics Mart India, etc.
• Bearish:
  • Chambal Fertilisers: ₹1.3 crore GST demand.
  • Dabur India: ₹3.47 crore GST demand.
  • Hindusthan National Glass: FIR filed.

4. Sector-Wise Analysis

• • Top Sectors (weekly gain):
    • NIFTY IT (+0.62%)
  • Volume Shockers from Nifty Next 50:
    • Canara Bank
    • IRFC
    • Indian Oil Corp
    • NHPC
    • BHEL

5. Long&Short Build Stocks

• Long Build-Up Stocks:
  • Aarti Industries (+15.90%)
  • Nykaa (+15.90%)
  • Paytm (+15.70%)
  • ATGL (+14.80%)
  • ITC (+13.10%)
• Short Build-Up Stocks:
  • ABCapital (+8.00%)

6. Institutional Activity

• FIIs: Net sellers (₹4,892.84 crore).
• DIIs: Net buyers (₹8,066.07 crore).

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.