27th December 2024 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 December 27, 2024.

Key Points

1. Market Overview

• GIFT Nifty trading higher indicates a strong start to the day.
• Indian Equity Indices: Closed slightly lower on December 26 after an initial rise.
• Adani Ports: Leading gainer on Thursday.
• HDFC Bank and Reliance Industries: Lagged behind.
• US Markets: Mixed results post-Christmas.
• 10-Year US Treasury Yield: Fell by 9 basis points to 4.57%.
• Oil Prices: Trading lower; gold steady.

2.Technical Analysis

Nifty-50:

• Pattern: Inside bar on daily charts; range-bound.
• RSI: 38.8 (bearish bias).
• MACD: Below zero (negative momentum).

Nifty Bank:

• Pattern: Bearish candlestick.
• RSI: 40 (bearish sentiment).
• MACD: Below zero.

3.Miscellaneous

• Put-Call Ratio (PCR):
  • Above 1: Bullish sentiment.
  • Below 1: Bearish

4.Key Stocks

Bullish Stocks:

1. Jubilant FoodWorks
2. Gensol Engineering
3. Paradeep Phosphates
4. Choice International
5. Renaissance Global
6. Snowman Logistics
7. Dixon Technologies
8. Adani Enterprises
9. Lemon Tree Hotels
10. Dhani Services
11. NDTV
12. HMA Agro Industries
13. Azad Engineering

Bearish Stocks:

1. Electrosteel Castings
2. Puravankara
3. NHPC
4. EPACK Durable
5. One Mobikwik Systems
6. ION Exchange (India)
7. Salasar Techno Engineering

5.FII/DII Activity (December 24, 2024)

• FIIs: Net sellers (-₹2,376.7 Cr).
• DIIs: Net buyers (+₹3,336.2 Cr).

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.