9th 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 9th, 2025.

Key Points

1. Market News

• GIFT Nifty indicates a flat/negative start.
• Indian equities closed flat on Wednesday; IT stocks offset pharma/finance losses.
• Asian markets declined; investors cautious ahead of US market closures and jobs data.
• US Treasury yields declined early Thursday (10-Year: 4.67%, 2-Year: 4.27%).
• Oil prices fell; gold stabilized after a 2-day rise.
• Indian Rupee closed at 85.86 (-14 paise).

2. Technical Analysis

Nifty-50

• Pattern: Small bearish candlestick resembling Hammer.
• Indicators: RSI at 42.63, MACD below zero.
• Support Levels: 23,743 | 23,804 | 23,901
• Resistance Levels: 23,548 | 23,488 | 23,390

Nifty Bank

• Pattern: Bearish candlestick, below key averages.
• Indicators: RSI negative, MACD below 50% Fibonacci retracement.
• Support Levels: 50,151 | 50,354 | 50,681
• Resistance Levels: 49,497 | 49,294 | 48,967

3. Key Stocks

Key Bullish Stocks

• BHEL: Commissioned new power units.
• Manappuram Finance: Restrictions lifted by RBI.
• ACME: Added 90 MW solar power.
• PN Gadgil Jewellers: Reported 24% revenue growth in Q3.
• Anand Rathi Wealth: Received ₹1,084.5 crore LOI from DRDO.

Key Bearish Stocks

• MedPlus: ₹16.77 crore penalty for overproduction.
• Man Industries: CFO resigned.
• Lupin: FDA inspection report (VAI status).
• United Spirits: ₹1.1 crore GST demand by Kerala Govt.
• The India Cements: ₹7.1 crore GST demand.

4. Sector-Wise Analysis

• • • Nifty Oil & Gas: +3.04% (weekly change)
    • Nifty Auto: +2.35%
    • Nifty Growth Sectors 15: +1.76%
    • Nifty100 Liquid 15: +1.32%
    • Nifty Low Volatility 50: +0.98%

5. Long&Short Build Stocks

Long Build-Up Stocks

• UBL: +25.60%
• Paytm: +17.90%
• Kalyan Jewellers: +17.50%
• VBL: +12.40%
• KPIT Tech: +12.20%

Short Build-Up Stocks

• ITC: +22.40%
• LT Finance: +11.30%
• Berger Paints: +7.60%
• TCS: +6.40%
• OIL: +4.10%

6. FIIs and DIIs Activity

1. FIIs: Net sellers (-₹3,362.18 crore).
2. DIIs: Net buyers (+₹2,716.28 crore).

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.