7th 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 7th, 2025.

Key Points

1. Market News

• Asian shares gained amid a Wall Street rally.
• U.S. Treasury yields dropped, with the 10-Year settling at 4.62%.
• Oil prices decreased, and the rupee weakened to 85.83 against USD.

2. Technical Analysis

Nifty 50:

• Trend: Bearish (Lower top-lower bottom setup).
• Support Levels: 23,958 | 24,085 | 24,291
• Resistance Levels: 23,547 | 23,420 | 23,215

Nifty Bank:

• Trend: Bearish (Approaching lower Bollinger Bands).
• Support Levels: 50,720 | 51,021 | 51,508
• Resistance Levels: 49,746 | 49,445 | 48,958

3. Key Stocks

Bullish:

• Coal India: Collaboration in mining with IREL.
• Titagarh Rail: Delivered driverless metro trains.
• Power Grid: Secured interstate transmission projects.

Bearish:

• Bandhan Bank: CTO resignation announced.
• Manappuram Finance: Gold and cash robbery reported.
• InterGlobe Aviation: Customs penalty imposed.

4. Sector-Wise Analysis

• • Best Performing Sectors (Weekly):
    • Nifty Consumer Durables: +2.35%
    • Nifty MidSmall Health: +2.22%
    • Nifty Auto: +1.66%

5. FIIs and DIIs Activity

1. FIIs: Net sellers (-₹2,575.06 Cr, Jan 6, 2025).
2. DIIs: Net buyers (+₹5,749.65 Cr, Jan 6, 2025).

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.