Market Overview
The latest market update shows a mixed sentiment among global indices. Key Indian indices have shown strength, with the Nifty and Bank Nifty rising for two consecutive weeks.
Market News
– GIFT Nifty: Indicates a slow start for the trading day.
– Equity Performance: Indian equity indices have gained nearly 3% over the last two weeks, with Friday’s recovery led by Bharti Airtel and Reliance Industries.
– Global Markets: Asian stocks rose following a strong performance in US equities, with Wall Street experiencing its largest monthly gain in a year.
– Bond Market: US Treasury yields have decreased, with the 10-year Treasury yield at 4. 16% and the 2-year yield at 4. 15%.
– Currency Exchange: The dollar is steady amid speculation of potential rate cuts in the US. The Japanese yen gained, while most Asian currencies weakened. The Indian rupee closed stable at 84. 49 against the dollar.
– Commodity Prices: Oil prices remained stable, while gold dropped to around USD 2025 per ounce and silver fell to approximately USD 30 per ounce.
Technical Analysis
– Nifty-50: On November 29, the Nifty-50 rose nearly 1%, indicating a potential bullish trend with a Bullish Harami candlestick pattern forming. It remained above short-term moving averages but is still below critical resistance levels.
– Key Indicators:
– Highest CALL OI Strikes: 24,182, 24,244, 24,343
– Key Support Levels: 23,500, 24,000, 23,800
– Highest PUT OI Strikes: 23,982, 23,921, 23,821
– Nifty Bank: The Bank Nifty also showed bullish momentum, remaining above key moving averages, with a Doji candlestick indicating market uncertainty.
– Key Indicators:
– Highest CALL OI Strikes: 52,152, 52,250, 52,407
– Key Support Levels: 51,000, 52,000, 50,000
– Highest PUT OI Strikes: 51,838, 51,741, 51,584
Key Stocks to Watch
– Bullish Stocks:
– Cochin Shipyard: Contract worth ₹1,000 crore signed with the Ministry of Defence.
– KEC International: New orders totaling ₹1,040 crore.
– Adani Enterprises: Acquired a 99% stake in Aviserve Facilities and Aviground for ₹1. 98 crore.
– Rail Vikas Nigam: Lowest bidder for ₹643 crore infrastructure projects.
– Biocon: FDA approval for the biosimilar drug YESINTEK.
– Bearish Stocks:
– Coromandel International: Facing customs demand.
– Restaurant Brands Asia: CFO resignation.
– Larsen & Toubro: Fined ₹173. 2 crore for tax issues.
Foreign Institutional Investors (FIIs)
FIIs were net sellers, with a selling amount of ₹16,139. 80 crore in the cash segment for November.
Put-Call Ratio (PCR)
– Overall PCR:
– Nifty: 0. 97
– Bank Nifty: 0. 87
– Indicates a shift in sentiment with a PCR below 1 suggesting bearish sentiment.
Pre-Market Analysis
As of the latest update:
– GIFT Nifty India opened at 24,359. 50 and fluctuated slightly.
– Key indices show varying performance across global markets.
Futures and Options Analysis
– Long Build-Up Stocks:
– Stocks like Apollo Hospitals and Cholamandalam witnessed significant OI change.
– Short Build-Up Stocks:
– Stocks like IGL and Divi’s Laboratories saw a decrease in OI.
Sector-Wise Analysis
– Top performing sectors over the past week:
– High Beta and Microcap indices have shown strong growth.
This overview presents a summary of current market conditions, key stock movements, and emerging trends within the Indian financial landscape.
For More in Depth Pre Market Analysis
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