3rd 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 3rd, 2025.

Key Points

1. Market News

• Global Sentiment:
  • GIFT Nifty indicates a weak start.
  • Indian benchmarks closed at their highest since December 18.
  • Asian equities resilient despite Wall Street’s negative trend.
• Economic Highlights:
  • U.S. Treasury yields fell.
  • Oil prices steady after increases.
  • Gold prices holding steady.
  • Rupee weakened against the U.S. Dollar.

2. Technical Analysis

• • Nifty-50:
    • Bullish candlestick pattern formed.
    • RSI crossed 52.8, indicating a positive trend.
    • Key Support Levels: 24,237, 24,349, 24,531.
    • Key Resistance Levels: 23,874, 23,762, 23,581.
  • Bank Nifty:
    • Formed a long green candle.
    • RSI positive, MACD below zero but improving.
    • Key Support Levels: 51,683, 51,844, 52,104.
    • Key Resistance Levels: 51,164, 51,003, 50,774.

3. Stocks with High Open Interest

• Long Build-Up:
  • UNIONBANK (+20.50%)
  • SJVN (+19.60%)
  • PETRONET (+19.30%)
  • ANGELONE (+8.80%)
  • ATGL (+6.50%)
• Short Build-Up:
  • EICHERMOT (+20.40%)
  • MARUTI (+15.60%)
  • SONACOMS (+15.30%)
  • INDIANB (+13.40%)
  • OIL (+13.30%)

4. Sector-Wise Analysis

• Top Sectors (Weekly Performance):
  • Nifty Auto (+5.87%)
  • Nifty Pharma (+4.41%)
  • Nifty Midsmall Healthcare (+4.20%)
  • Nifty Healthcare Index (+4.19%)
  • Nifty Consumer Durables (+3.37%)
• Volume Shockers (Stocks with significant trading volume increases):
  • CHOLAMANDALAM: CMP 127

5. Key Stocks

• Bullish Stocks:
  • Biocon Pharma: NMPA approval in China.
  • NHPC Ltd: Secured insurance funds for flash flood damage.
  • Varun Beverages: Invested ₹413 crore in South Africa.
  • Multiple others with notable achievements.
• Bearish Stocks:
  • Pricol: Divested its wiping business.
  • Axiscades Technologies: CEO resigned.
  • Hindustan Zinc: Decline in mined metal production.
  • Other stocks with bearish indicators.

6. FIIs and DIIs Activity

1. FIIs: Net sellers of ₹1,506.75 Cr (cash segment).
2. DIIs: Net buyers of ₹22.14 Cr (cash segment).

7. Put-Call Ratio

1. PCR above 1 indicates bearish sentiment.
2. PCR below 1 signals bullish sentiment.

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.