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 February 1st, 2025.
Key Points
1. Market News
- GIFT Nifty closed lower on Friday, today is a market holiday.
- The February series started strong, with 4 consecutive sessions of gains.
- Focus is on Finance Minister Nirmala Sitharaman’s Union Budget (Feb 1, 2025).
- US stocks ended lower due to Trump’s new tariffs on China, Mexico, and Canada.
- USD Index (DXY) fell 0.59%, closing at 107.47.
- WTI Crude: $76.40 (-0.67%), Brent Crude: $73.81 (+1.48%).
- Gold hit a record high of $2,801.00 per ounce (+0.25%).
- 10-year Treasury Yield: 4.54% (+2 basis points).
- Indian Rupee closed flat at 86.62 against USD.
2. Technical Analysis
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Nifty 50
- Closed at 23,426, largest gain since Jan 2.
- RSI: 52.17, MACD indicates bullish strength.
- Key Resistance Levels: 23,547 | 23,611 | 23,714
- Key Support Levels: 23,341 | 23,278 | 23,175
Nifty Bank
- Maintained upward trend for 4 consecutive sessions.
- Largest weekly gain (2.52%) since Dec 2024.
- Key Resistance Levels: 49,677 | 49,829 | 50,074
- Key Support Levels: 49,186 | 49,034 | 48,788
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3. Key Stocks to Watch
Key Bullish Stocks
- Waaree Energies: Green hydrogen project (90,000 MT capacity).
- Aurobindo Pharma: Positive EMA CHMP opinion for Dyrupeg.
- Nestle India: New KitKat production line (₹1,100 Cr, 15,000 tonnes).
- ONGC: Acquired 1.15 Cr shares of Mangalore SEZ for ₹56 Cr.
- KPI Green Energy: Commissioned 40.16 MW renewable projects.
- Tata Power: Rooftop solar MoU with Rajasthan electricity boards.
- GAIL: Startup corpus increased from ₹100 Cr to ₹500 Cr.
- Ganesha Ecosphere: JV with Race Eco Chain for PET flakes.
- Sundaram Clayton: New plant started in Tamil Nadu.
- ITC: Focus on Budget impact on “sin goods” taxation.
- Rail Stocks (RVNL, IRCTC, RITES, BEML, IRFC, RailTel, Ircon): Likely Budget-driven surge.
Key Bearish Stocks
- Britannia: CMO Amit Doshi resigning (March 17).
- Kaynes Tech: CFO R. Balasubramanian resigned (Jan 30).
- Earnings Releases Today: Aarti Industries, Anant Raj, Ganesha Ecosphere, GR Infraprojects, Jaiprakash Power, Neogen Chemicals, Vinati Organics.
- Stocks in F&O Ban: None.
- Stocks Removed from F&O Ban: None.
4. Sector-Wise Performance (Last Week)
- Top 5 Performing Sectors:
- NIFTY Realty: +5.45%
- NIFTY Financial Services: +2.63%
- NIFTY Private Bank: +2.16%
- NIFTY CPSE: +1.93%
- NIFTY FMCG: +1.63%
Volume Shockers (1.5x Avg Volume)
- Bank of Baroda: ₹213
- IRFC: ₹150
- Jindal Steel & Power: ₹791
- Vedanta: ₹441
- Indian Railway Catering: ₹822
5. Long & Short Build-Up Stocks
Long Build-Up Stocks (Futures Open Interest Increase)
- JINDALSTEL: +20.00%
- BANKBARODA: +10.30%
- SYNGENE: +6.00%
- KPITTECH: +4.40%
- MANAPPURAM: +3.80%
Short Build-Up Stocks (Futures Open Interest Increase)
- NBCC: +100.00%
- SOLARINDS: +100.00%
- IGL: +50.30%
- JSL: +13.50%
- NAVINFLUOR: +13.20%
6. FII & DII Activity
- FIIs: Net sellers (-₹1,188.99 Cr) on Jan 31.
- DIIs: Net buyers (+₹2,232.22 Cr) on Jan 31.
7. Breakout Pulse Stocks
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- ONGC: ₹262 (+2.29%)
- BDL: ₹1305 (+2.97%)
- JUBLFOOD: ₹703 (+2.17%)
- TITAN: ₹3490 (+3.62%)
- MARUTI: ₹12,310 (+2.59%)
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.
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