8th 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 8th, 2025.

Key Points

1. Market News

• GIFT Nifty is trading flat, suggesting a subdued start.
• Benchmark indices reversed losses to close higher, driven by oil, gas, and financial sectors.
• Asian stocks declined, mirroring U.S. market selloffs due to inflation fears.

2. Technical Analysis

Nifty-50:

• Inside Bar candlestick pattern, trading near lower Bollinger Bands.
• Key support levels: 23,774 | 23,654.

Nifty Bank:

• Trading below all key moving averages, indicating bearish trends.
• Key support levels: 50,024 | 49,911.

3. Key Stocks

Key Bullish Stocks to Watch

• M&M: Test drives of BE 6 and XEV 9e begin January 14.
• Tata Steel: Production +6.2% in Q3.
• Dr. Reddy’s: Manufacturing facility sale agreement with Jaguar Labs.

Key Bearish Stocks to Watch

• MedPlus Health: Suspension order for a store’s drug license.
• Birlasoft: CEO for Americas resigning.
• Sapphire Foods: GST penalty order

4. Sector-Wise Analysis

• • Top NSE Sectors (Positive Week Change):
    • NIFTY AUTO: +3.14%
    • NIFTY OIL & GAS: +2.56%
  • Volume Shockers (Nifty Next 50):
    • ZOMATO: +1.5x
    • ADANI POWER: +1.5x

5. FIIs and DIIs Activity

1. FIIs: Net Sellers (-₹1,491.46 Cr).
2. DIIs: Net Buyers (+₹1,615.28 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.