19th December 2024 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 December 19, 2024.

1. Essential Global Market Indices

1. GIFT Nifty (India): 23,916.00 (-1.41%).
2. Dow Jones (US): 19,700.19 (-0.87%).
3. Nasdaq (US): 8,199.11 (+0.05%).
4. Hang Seng (Asia): 19,450.16 (-3.28%).
5. S&P 500 (US): 5,872.16 (-2.95%).
6. FTSE 100 (Europe): 42,382.60 (-0.13%).
7. USD/INR: 84.9500 (+0.04%).

2. Essential Indian Indices (As of the Last Market Close)

1. Nifty-50: 24,198.85 (-0.56%).
2. Nifty Bank: 52,139.55 (-1.32%).
3. Sensex: 80,182.20 (-0.62%).
4. India VIX: 14.37 (-0.01%).
5. Gold MCX: 76,644.00 (-0.12%).
6. Crude Oil MCX: 5,991.00 (+0.03%).

3. Long & Short Build-Up Stocks

Long Build-Up

• Top 5 Stocks: LODHA (+23.88%), IPCALAB (+22.16%), NMDC (+20.08%), JSWENERGY (+18.42%), FEDERALBNK (+17.46%).

Short Build-Up

1. Top 5 Stocks: SUPREMEIND (+19.08%), HCLTECH (+12.90%), IGL (+9.14%), COROMANDEL (+8.93%), PRESTIGE (+7.33%).

4. Sector-Wise Analysis

1. Top Performing Sectors (Last Week):
   • Nifty Realty: +1.84%.
   • Nifty IT: +0.72%.
   • Nifty India Digital: +0.60%.
2. Volume Shockers (Nifty Next 50):
   • Stocks with 1.5x average weekly volume:
     • UNITEDSPIRITS (CMP: 1579).

5. Key Market News

1. GIFT Nifty: Indicates a gap-down opening.
2. NSE Nifty 50 & BSE Sensex: Declined by nearly 2% over the past 3 sessions.
3. US Federal Reserve: Lowered interest rate cut expectations; cut rates by 25 bps.
4. Asian Stocks: Down due to US trends; currencies weakened against the dollar.
5. Commodities:
   • Oil prices declined (Chinese demand concerns).
   • Gold & silver prices increased (rate reassessment).

6. Technical Analysis

Nifty-50

1. Bearish candlestick pattern; lower highs and lows.
2. Support Levels: 24,341 | 24,399 | 24,492.
3. Resistance Levels: 24,154 | 24,096 | 24,003.

Bank Nifty

1. Bearish momentum; lower highs and lows.
2. Support Levels: 52,638 | 52,831 | 53,143.
3. Resistance Levels: 52,014 | 51,821 | 51,509.

7. Change in Open Interest

• High Call OI: Indicates potential resistance.
• High Put OI: Indicates potential support.
• Sentiment:
  • Increased Call OI: Bearish.
  • Increased Put OI: Bullish.

8. Key Stocks to Watch

Bullish Stocks

1. NITCO: ₹105 crore order from Prestige Group.
2. Yatharth Hospitals: QIP to raise ₹450 crore.
3. Zaggle Prepaid: QIP set at ₹550.73 per share.
4. Lupin: USFDA approval for new tablets.
5. Infosys: ₹426 crore Kolkata center launched.

Bearish Stocks

1. Asian Paints: Two top executives resigned.
2. IPCA Labs: 40 lakh shares sold at ₹1,501.52 per share.
3. Wardwizard Innovations: Promoter sold 22 lakh shares over two days.

Stocks in F&O Ban:

• NMDC, Bandhan Bank, Chambal Fertilisers, Granules India, Hindustan Copper, Manappuram Finance, National Aluminium, PVR INOX, RBL Bank, SAIL.

9. Institutional Activity

• FIIs: Net sellers; ₹-1,316.81 Cr.
• DIIs: Net buyers; ₹4,084.08 Cr.

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.