21st 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 21st, 2025.

Key Points

1. Market News

• Positive start indicated by GIFT Nifty.
• Indian indices recovered after a brief dip.
• President Trump announced tariffs on Canada and Mexico (effective Feb 1).
• Oil prices declined (WTI crude: $76.89).
• Gold prices advanced due to a weakened US dollar.

2. Technical Analysis

• • Nifty-50:

    • Formed a bullish candlestick pattern.
    • Key Support Levels: 23,386 | 23,438 | 23,523
    • Key Resistance Levels: 23,218 | 23,166 | 23,082

    Bank Nifty:

    • Bullish candlestick with above-average volumes.
    • Key Support Levels: 49,598 | 49,826 | 50,195
    • Key Resistance Levels: 48,859 | 48,631 | 48,261

3. Key Stocks to Watch

Bullish:

• TCS, Waaree Renewable, Landmark, Dixon Technologies, Oberoi Realty
• Venus Remedies, Prakash Industries, Vedanta, Avenue Supermarts

Bearish:

• Cipla (received Form 483 from US FDA)
• Spandana Sphoorty Financial (founder sold shares).

4. Sector-Wise Analysis

Top Performing Sectors (Last Week):

1. NIFTY High Beta 50: +5.70%
2. NIFTY PSU Bank: +5.49%
3. NIFTY CPSE: +4.97%
4. NIFTY Metal: +4.24%
5. NIFTY PSE: +4.21%

Volume Shockers:

• Zomato
• ICICI Lombard

5. Long&Short Build Stocks

• • • Long Build-Up:

      1. Supreme Industries (+43.90%)
      2. IndiaMART (+24.60%)
      3. Zomato (+15.10%)
      4. Indian Hotels (+11.20%)
      5. Shriram Finance (+10.10%)

      Short Build-Up:

      1. CG Power (+18.60%)
      2. Wipro (+17.70%)
      3. UBL (+15.90%)
      4. Kotak Mahindra Bank (+13.40%)
      5. Persistent Systems (+8.80%)

6. Additional Information

• FIIs: Net sellers (₹-4,336.54 Cr on Jan 20, 2025).
• DIIs: Net buyers (₹4,321.96 Cr on Jan 20, 2025).
• Stocks in F&O Ban: Aditya Birla Fashion, Angel One, etc.

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.