Introduction
This summary presents an overview of the recent market trends, technical analysis, bullish and bearish stocks, foreign institutional investment, put-call ratios, and pre-market analysis as of December 3, 2024.
Key Points
1. Market Indices Performance
– GIFT Nifty is trading flat.
– NSE Nifty 50 and BSE Sensex rose due to gains from Reliance Industries and Infosys.
– Asian stocks surged following Wall Street’s positive performance, with record highs for Nasdaq and S&P 500.
– Upcoming US economic data and jobs report are garnering investor attention.
– The Indian rupee hit a record low against the US dollar.
2. Technical Analysis
– Nifty-50 showed bullish patterns and higher price levels after recovering losses from last Thursday.
– Key support levels: 25,000, 24,800, 25,500; Resistance levels: 24,000, 23,500, 24,100.
– Nifty Bank also displayed positive trends, forming a doji candlestick, indicating a battle between bulls and bears.
3. Bullish Stocks to Watch
– BPCL signed an MoU with Coal India for a coal-to-synthetic gas project.
– KPI Green received a ₹1,311 crore order from Coal India for a solar plant.
– Torrent Power is initiating a Qualified Institutional Placement with shares priced at ₹1,555. 75.
– Solar Industries has secured a ₹2,039 crore export order for defense supplies.
– Protean e-Gov Technologies gained a ₹161 crore work order.
4. Bearish Stocks to Watch
– Cipla’s founders sold a 1. 72% stake for ₹2,111 crore.
– RBL Bank remains in the F&O ban.
5. Investment Trends
– Foreign Institutional Investors (FIIs) were net sellers with Rs. 238 Cr in cash, while Domestic Institutional Investors (DIIs) were net buyers with Rs. 3,589 Cr.
6. Put-Call Ratio Analysis
– PCR for Nifty above 1 indicates bullish sentiment, while below 1 signifies bearish sentiment. Current PCR values show a slight increase in bullish sentiment.
Conclusion
Market indicators show a positive outlook despite some bearish trends in certain stocks. Investors should watch for key economic data ahead, along with the performance of crucial stocks and indices. Further insights will be provided following the market’s fluctuations and upcoming economic reports.
For More in Depth Pre Market Analysis
Leave A Comment