2nd 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 2nd, 2025.

Key Points

1. Market News

• Indian Markets: Rebounded after a two-day decline, closing higher.
• Asian Markets: Mixed start due to a cautious sentiment.
• US Markets: Closed on Wednesday.
• Commodities:
  • Oil prices steady due to shrinking US crude stockpiles.
  • Gold records its largest annual gain since 2010.
• Indian Rupee: Weakened by four paise, closing at 85.65/USD..

2. Technical Analysis

• Nifty-50:

  • Trend: Bullish candlestick pattern with rising highs and lows.
  • Key Pivot Levels:
    • Support: 23,809 | 23,870 | 23,970
    • Resistance: 23,610 | 23,549 | 23,450

  Bank Nifty:

  • Trend: Positive trend above critical support levels (200-day EMA/SMA).
  • Key Pivot Levels:
    • Support: 51,276 | 51,473 | 51,793
    • Resistance: 50,636 | 50,439 | 50,119

3. Stock Activity Based on Open Interest

Long Build-Up Stocks:

1. INDIANB (+15.90%)
2. CANFINHOME (+14.10%)
3. CYIENT (+7.50%)
4. CROMPTON (+6.00%)
5. PAYTM (+5.50%)

Short Build-Up Stocks:

1. SJVN (+18.10%)
2. IRB (+16.60%)
3. MANAPPURAM (+12.20%)
4. MUTHOOTFIN (+8.60%)
5. COROMANDEL (+7.20%)

4. Sector-Wise Analysis

• Top 5 Positive Sectors:
  • Nifty Pharma (+3.99%)
  • Nifty Healthcare Index (+3.66%)
  • Nifty MidSmall Healthcare (+3.50%)
  • Nifty Auto (+2.00%)
  • Nifty Midcap Liquid 15 (+1.49%)

5. Key Bullish Stocks

• Sandur Manganese, RailTel Corporation, DCX Systems, Mazagon Dock Shipbuilders, Vishnu Prakash R Punglia, Godawari Power, Goa Carbon, Rajesh Exports, CSB Bank, Kilburn Engineering, Sheela Foam, Ind-Swift Laboratories, Maruti Suzuki India.

Key Bearish Stocks

• Century Enka, Responsive Industries, Sterling Tools, Gujarat Toolroom, Deepak Spinners.

6.FII/DII Activity

• FIIs: Net sellers at ₹-1,782.71 Cr on 1st Jan 2024.
• DIIs: Net buyers at ₹1,690.37 Cr on 1st Jan 2024.

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.