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 24th, 2025.
Key Points
1. Market News
- GIFT Nifty indicates a positive start to the day.
- Indian indices gained for the second consecutive day due to UltraTech Cement and IT firms.
- Asian equities rose due to technology stocks rebounding.
- US markets saw S&P 500 reach a record closing high.
- US 10-Year Treasury yield dropped 22 basis points to 4.63%.
- Oil prices fell after Trump urged OPEC to reduce crude prices.
- Gold remained high, nearing October levels.
- Rupee declined by 14 paise, closing at 86.47 against USD.
2. Technical Analysis
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Nifty-50:
- Support Levels: 23,258 | 23,300 | 23,369
- Resistance Levels: 23,120 | 23,078 | 23,009
- Continued trading below all key moving averages, showing weak market bias.
Nifty Bank:
- Support Levels: 48,811 | 48,905 | 49,058
- Resistance Levels: 48,506 | 48,411 | 48,259
- Underperformed, trading below moving averages and showing bearish indicators.
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3. Key Stocks to Watch
Key Bullish Stocks to Watch:
- Adani Wilmar: Launched food processing plant in Haryana.
- Infosys: Approved a merger between subsidiaries.
- HG Infra Engineering: Launched a ₹763 crore project in UP.
- Aarti Industries: Expanded production at Dahej SEZ, Gujarat.
- Indus Towers: Plans to enter EV charging infrastructure.
Key Bearish Stocks to Watch:
- Patanjali Foods: FSSAI recall due to non-compliance.
- VST Industries: Under GST inspection in Telangana.
- Cipla: Global Chief Manufacturing Officer resignation.
4. Sector-Wise Analysis
Top 5 NSE Sector Indices (Weekly Performance):
- NIFTY METAL (+2.83%)
- NIFTY COMMODITIES (+2.47%)
- NIFTY HEALTHCARE INDEX (+2.11%)
- NIFTY MIDSMALL HEALTHCARE (+2.09%)
- NIFTY HIGH ETA 50 (+1.92%)
Volume Shockers (Top Stocks with 1.5x Volume):
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- JIO FINANCIAL
- PIDILITE INDUSTRIES
- INTERGLOBE AVIATION
- SHREE CEMENTS
5. Stock Analysis
Long Build-Up Stocks:
- KALYANKJIL (+30.20% OI Change)
- CHOLAFIN (+28.70% OI Change)
- JIOFIN (+21.00% OI Change)
- HUDCO (+14.30% OI Change)
- BPCL (+12.40% OI Change)
Short Build-Up Stocks:
- JSWSTEEL (+25.50% OI Change)
- PERSISTENT (+25.40% OI Change)
- SYNGENE (+19.20% OI Change)
- ULTRACEMCO (+18.20% OI Change)
- AUROPHARMA (+17.80% OI Change)
6. Breakout Pulse Stocks:
- REDINGTON (+4.44%)
- UPL (+2.79%)
- FACT (+3.06%)
- EICHERMOT (+2.13%)
- AAVAS (+2.49%)
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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