Introduction
This document summarizes the recent developments in the markets, including important indices, technical analysis, key stocks to watch, and trading activities.
Key Points
Market Overview
• The GIFT Nifty is slightly higher, indicating a stable to positive market opening.
• The Nifty and Sensex indices closed at their highest levels in over a month despite facing volatility.
• U. S. stocks experienced minor declines but remained near record highs ahead of the significant jobs report.
• The Indian rupee held steady at 84. 73 against the U. S. dollar.
Technical Analysis
Nifty-50
• The Nifty 50 rose by 1% on December 5, showing positive buying interest based on bullish candlestick formations.
• The RSI was at 60, and MACD was above zero, indicating good momentum.
• Key support levels identified at 24,406, 24,273, and 24,058, while resistance levels include 25,500, 25,000, and 25,200.
Nifty Bank
• The Bank Nifty saw a 0. 63% gain and continued forming higher peaks and lows, signaling bullish behavior.
• The RSI for this index was recorded at 66, indicating upward momentum.
• Important support levels are 53,051, 52,806, and 52,410, with resistance at 54,000, 55,000, and 53,000.
Key Bullish Stocks
• Afcons Infrastructure: Completed a significant tunneling project for Delhi Metro.
• Ramco Systems: Partnered with Hanjin for digital transformation in aviation.
• RITES: Appointed project management consultant for IIM Raipur’s development.
• Waaree Energies: Received accreditation for a solar module testing lab.
• Garden Reach Shipbuilders: Contracted for the delivery of multi-purpose vessels.
• Other companies like Advait Infratec and Electronics Mart India have secured significant deals and operations.
Key Bearish Stocks
• Nykaa: CEO resignation announced.
• Dr. Reddy’s Laboratories: Penalized by the Kazakhstan tax authorities.
• Mishtann Foods: SEBI ordered a return of misused funds and imposed restrictions.
• Companies under F&O ban include Granules India and Manappuram Finance.
Trading Activities
• Foreign Institutional Investors (FIIs) sold shares amounting to Rs. 8,539. 91 crore, while Domestic Institutional Investors (DIIs) bought Rs. 2,303. 64 crore in cash.
• The Put-Call Ratio (PCR) indicates a shift in bullish sentiment across indices, with Nifty PCR at 1. 12 and Bank Nifty at 1. 16.
Pre-Market Analysis
• Market indices have shown mixed performance in early trading, with some indices performing marginally better than others.
• The market continues to be influenced by global trends and economics, particularly in response to U. S. market movements.
Long and Short Build-Up Stocks
• Stocks with significant long build-up include OIL and HFCL, while those with short build-up include Zomato and CDSL.
Sector Performance
• Positive sector performance noted in Media, PSU Banks, and Realty, among others.
Conclusion
The Indian market displays mixed to positive trends as it anticipates key data releases from the U. S. Economic activity continues, with significant movements among various stocks. Observations suggest a cautious but overall optimistic sentiment from traders and investors in the current market environment.
For More in-depth Pre Market Analysis
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