20th 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 20, 2024.

1.Market News

GIFT Nifty trading lower, indicating a negative start.

Frontline equity indices hit the lowest since November 28.

Nifty Pharma index gained 2%.

Asian stocks saw narrow trading ranges; the Fed’s stance strengthened the dollar.

U.S. 10-Year Treasury yield fell to 4.54%.

Mixed performance in Asian currencies; oil prices dropped slightly.

2.Stock Analysis

Long Build-Up Stocks:

LTIM (+23.82%)

KEI (+21.98%)

ABB (+13.92%)

PIDILITIND (+10.69%)

ULTRACEMCO (+9.29%)

Short Build-Up Stocks:

DRREDDY (+15.04%)

WIPRO (+12.89%)

TATAELXSI (+12.27%)

OFSS (+11.29%)

TIINDIA (+10.21%)

3.Sector-Wise Performance

Top Performers in NSE (Weekly):

Nifty Pharma (+1.77%)

Nifty Healthcare Index (+1.29%)

Nifty Realty (+0.81%)

Nifty MidSmall Healthcare (+0.39%).

Volume Shockers (Nifty Next 50):

Jio Financial

Zydus Lifesciences

ICICI Lombard

LTIMindtree

Torrent Pharma.

4.Technical Analysis

Nifty-50:

Bullish candlestick pattern observed.

RSI at 40 and MACD negative crossover indicate weakness.

Support Levels: 23,994 | 24,025 | 24,077.

Resistance Levels: 23,891 | 23,859 | 23,808.

Nifty Bank:

RSI and MACD negative crossover; fell 1%.

Support Levels: 51,744 | 51,868 | 52,069.

Resistance Levels: 51,342 | 51,218 | 51,017.

Key Stocks

Bullish:

Exide & Hyundai Motors India: Collaborating on EV battery cells.

IndiGo: Loan of $43 million approved for a subsidiary.

KPI Green: MoU for solar and wind projects in Jaisalmer.

GE Vernova: Order worth ₹400 crore.

Cosmo First: Launched automotive paint protection films.

Mazagon Dock Shipyard: Producing patrol vessel worth ₹1,070 crore.

HCC: Raised ₹600 crore via placement.

Bearish:

IPCA Laboratories: Promoter sold 4 million shares.

One Mobikwik Systems: Investor divested 0.9% stake.

Sai Life Sciences: CFO sold 0.72% stake.

5.Market Sentiments

FIIs: Net sellers at ₹-4,224.92 crore.

DIIs: Net buyers at ₹3,943.24 crore.

6.Put Call Ratio (PCR): Indicates bullish sentiment if above 1, bearish if below 1.

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.