31st 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 31, 2024.

Key Points

1. Market News

• Asian Markets: Declined due to Wall Street’s three-day rout.
• US 10-Year Yield: Fell by nine basis points to 4.53%.
• Commodities: Brent crude at $74.47 (-0.65%), WTI crude at $71.48 (-0.68%)

2. Technical Analysis

• Nifty-50:
  • Bearish candlestick on daily charts.
  • Key Support: 23,841 | Key Resistance: 24,036.
• Nifty Bank:
  • Bearish pattern with key resistance at 52,478 and support at 50,735.

3.Key Stocks to Watch

• Bullish:
  • Mazagon Dock Shipbuilders: ₹1,990 crore contract.
  • Hindalco Industries: Allocated Meenakshi coal mine.
  • RVNL: Central railway project worth ₹137.2 crore.
• Bearish:
  • EaseMyTrip: Co-founder to sell 14.21% stake for ₹780 crore.
  • Prataap Snacks: Fire at Jammu unit disrupts operations.

4. Stocks: Long & Short Build-Up

• Long Build-Up: JSL (+20.40%), SUPREMEIND (+13.10%), PRESTIGE (+13.00%)
• Short Build-Up: ATGL (+28.40%), INDHOTEL (+17.20%), JSWENERGY (+11.00%)

5. Sector-Wise Performance

• Top Sectors (Week Change):
  • Nifty Pharma (+3.29%)
  • Nifty Healthcare Index (+2.89%)
  • Nifty Midsmall Healthcare (+2.56%)

Volume Shockers

• Top Stocks:
  • Zomato (CMP: ₹282)
  • PNB (CMP: ₹101)
  • NHPC (CMP: ₹79)

6.FII/DII Activity

• FIIs: Net sellers with ₹1,893.16 Cr.
• DIIs: Net buyers with ₹2,173.86 Cr.

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.