Weekly Report: 04th January 2025

Weekly Trend Report

Week Gone By

The market saw moderate gains during the New Year week, despite weaker domestic economic indicators. Indices ended lower on three out of five trading days, although broader markets outperformed the frontline indices. Meanwhile, the country’s gold reserves declined by  $2.33 billion to $65.726 billion during the week. India’s fiscal deficit reached ₹8.5 lakh crore in the first eight months of the fiscal year (April-November), accounting for 52.5% of the budgeted target. On the global front, China’s manufacturing PMI and Caixin/S&P Global manufacturing PMI both fell in December. Japan’s factory activity contracted, whereas the Au Jibun Bank Japan Manufacturing PMI saw a slight rise.

Week Ahead

The stock market is expected to remain volatile next week as investors await the release of Q3 earnings results. This uncertainty has led some investors to pull back on their purchases, creating a cautious market sentiment. After the earnings season, attention is likely to shift toward the upcoming Union Budget and the policy decisions under the Trump 2.0 administration. On the domestic front, India’s HSBC Composite and Services PMI will be released on January 6, the preliminary Fiscal Year GDP Growth data for 2025 on January 7, and November industrial production data on January 10. Globally, the US ISM Services PMI and Job Openings and Labor Turnover Survey will be released on January 7, while non-farm payrolls and unemployment rate data are set for release on January 10.

Technical Overview
  • The benchmark index concluded the calendar year on a slightly lower trajectory; however, it commenced the new calendar year of 2025 with a robust performance, resulting in a weekly increase of 191 points on relatively elevated trading volume. The VIX experienced a 2.3% rise, reaching levels of 13.54 during the week.
  • The week concluded with most broader and sectoral indices demonstrating an improvement in their price trends, while negative momentum continued to improve for the second consecutive week, with the exception of the real estate sector—representing an  additional positive development.
  • In terms of market breadth, there was notable enhancement observed throughout the week, particularly within the intermediate trends. The percentage of stocks trading above 10 and 20 DMA has surpassed the median threshold, coupled with a positive crossover between the two average lines, suggestive of a short-term bullish swing.
  • The percentage of stocks trading above 200 DMA has also managed to exceed the median mark; however, the proportion of stocks trading above 50 DMA remains below the median level for the third consecutive occasion, indicating that the prevailing downtrend is not yet over on a higher timeframe.
  • On the momentum market breadth front, significant recovery has been observed since midweek; nevertheless, the markets did not provide the anticipated follow-through afterwards. Therefore, it is imperative for bullish participants to establish their presence in the forthcoming days with a pronounced upward movement; failure to achieve this could lead to a potential weakening of the ongoing rally.
  • From a technical perspective, the index is currently situated at a critical juncture. The level at 50DMA, in conjunction with the prior gap area and the weekly shorter-term moving average, indicates that the region between 24350-24220 is projected to serve as an immediate resistance zone. A decisive reclamation of this zone would enable the index to gather additional bullish momentum. Conversely, with the 50 Weekly Moving Average positioned near 23600, the range between 23900 and 23600 constitutes a vital  support zone; a violation of the lower boundary on a closing basis would invite further selling pressure.
  • We remain in a hard-money market environment, with the swing confidence of the overall market currently at zero; however, it is anticipated that this may improve, contingent upon a strong follow-through. Consequently, it is advisable to adopt a prudent approach to swing trading, and to implement a strict risk management strategy, which should not be overlooked.

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Newsletter: 06th January 2025

Titan Shines in Q3

Aaj Ka Bazaar

US equity markets rebounded on Friday as the truncated week ended, with hopes of additional Fed rate cuts and easing regulatory policies from the upcoming administration. However, despite the rally, the three major indices registered modest weekly declines. On the Asian front, Nikkei made a tepid debut into the week, posting a decline in its indices led by the auto and steel sector. Meanwhile, Hang Seng continues to trade flat after indicating volatility in its early hours. The Indian benchmarks are expected to make a modest start into the week, as per the cue from GIFT Nifty. The stock in focus during today’s trading session would be HDFC Bank, followed by the robust Q3 business updates. 

Markets Around Us

BSE Sensex –79,506.28 (0.36%)

Nifty 50 – 24,077.45 (0.30%)

Bank Nifty – 50,913.70 (-0.15%)

Dow Jones – 42,623.56 (-0.25%)

Nasdaq – 19,619.17 (1.75%)

FTSE – 8,223.98 (-0.44%)

Nikkei 225 – 39,282.45 (-1.51%)

Hang Seng – 19,271.05 (-0.27%)

Sector: Gems, Jewellery & Watches

Titan Shines with Robust Q3 Growth

Titan Company shares rose over 2% in morning trade, becoming the top gainer on the Nifty 50 index after reporting a 24% year-on-year (YoY) growth for Q3 FY25. The Jewellery segment led with a 25% YoY growth, driven by strong festive demand, higher gold prices, and wedding purchases. Titan expanded its retail network by adding 69 stores in Q3, reaching 3,240 outlets, including international stores in Seattle and Dubai. Gold coin sales jumped 48%, while studded jewelry grew 21%. Watches & Wearables saw mixed results, with analog watches growing 19% due to premium demand, but wearables declined 20% amid market challenges. The EyeCare segment grew 17% despite closing three stores. CaratLane grew 25%, adding 19 stores in India and its first outlet in New Jersey. Emerging businesses performed unevenly, with Fragrances up 27% and Fashion Accessories down 20%. Titan’s festive strength highlights its leading position across segments.

Why it Matters:

Titan’s strong Q3 growth reflects robust consumer demand during the festive and wedding seasons, boosting investor confidence in its market leadership. The expansion of its retail network, including international outlets, shows its focus on global growth. Mixed performance across segments highlights both opportunities and challenges in capturing diverse market trends.

 NIFTY 50 GAINERS

 NIFTY 50 GAINERS

BAJFINANCE – 7548.60 (1.91%)

TITAN – 3504.95 (1.54%)

BAJAJAUTO – 9090.00 (1.39%)

 

NIFTY 50 LOSERS

KOTAKBANK – 1812.00 (-1.45%)

INDUSINDBK – 986.50 (-1.14%)

BPCL – 293.35 (-1.03%)

Sector: NBFC

Bajaj Twins Lead Nifty on Growth

Shares of Bajaj Finance and Bajaj Finserv rose up to 2.5% on January 6 after Bajaj Finance reported a strong Q3 FY25 business update. Its assets under management (AUM) grew 28% year-on-year (YoY) to ₹3.98 lakh crore, while its deposit book increased 19% to ₹68,800 crore. The company also achieved its highest-ever quarterly new loan bookings at 12.06 million, up 22% from last year, and added 5.03 million new customers, expanding its base to 97.12 million. Brokerages responded positively: BofA and Citi reiterated “buy” ratings with target prices of ₹8,800 and ₹8,150, respectively, citing strong growth in loans and proactive risk management. JPMorgan maintained an “overweight” rating with a target of ₹7,300, forecasting 29% annual AUM growth over three years. Despite challenges in the broader market, Bajaj Finance’s solid performance and market leadership boosted investor confidence, with its shares gaining 10% over the past month.

Why it Matters:

Bajaj Finance’s strong Q3 performance highlights robust growth in assets, loans, and customer acquisition, reinforcing its leadership among financial stocks. Positive ratings from major brokerages indicate confidence in its future growth and risk management. This positions the company as a resilient performer despite broader market challenges.

Desh Duniya Bazaar

Around the World

Asian stocks started 2025 on a weak note, with most markets trading flat-to-lower on Monday as investors grew cautious ahead of key economic data this week. Concerns over slower U.S. interest rate cuts following hawkish comments from the Federal Reserve weighed on sentiment. Japan’s Nikkei 225 and TOPIX indexes dropped 1.3% and 0.9%, respectively, in catch-up trade after the holidays, with auto stocks leading losses. Nippon Steel fell over 2% after a U.S. Steel acquisition was blocked by President Biden. Chinese markets remained steady, with focus on inflation data amid expectations of more government stimulus in 2025 to address deflation and a property slump. South Korea’s KOSPI surged 1.6% as investors saw buying opportunities after political turmoil last month. Taiwan’s Foxconn gained 2% on record Q4 revenues driven by AI demand, while India’s Nifty 50 futures hinted at a modest recovery after last week’s losses.

Option Traders Corner

Max Pain

Nifty 50 – 24,000

Bank Nifty – 51,700

Nifty 50 – 24,059 (Pivot)

Support – 23,921, 23,838, 23,701

Resistance – 24,142, 24,279, 24,362

Bank Nifty – 51,188 (Pivot)

Support – 50,704, 50,421, 49,937

Resistance – 51,472, 51,955, 52,239

Did you know?

2 Million Indian Travelled to USA

The number of Indians who travelled to the United States in the first 11 months of 2024, up 26% from the same period last year.

Have you checked our Top Stocks for 2025 ? Click below

Newsletter: 03 rd January 2025

DMart Revenue Boosts Shares

Aaj Ka Bazaar

The US market varied before ending lower overnight, and the dollar hit a two-year high after data showed that weekly jobless claims unexpectedly dropped to an eight-month low, reigniting worries about high interest rates. The Asian market mainly was higher this morning, with Japanese markets closed for a holiday. Regional gains were driven by optimism surrounding potential interest rate cuts in China and positive news from South Korea’s tech sector. The People’s Bank of China plans to cut interest rates at an appropriate time this year, the Financial Times reported, citing comments from the central bank. Oil extended gains after settling up by more than $1 a barrel on Thursday on optimism around China’s economy and fuel demand after a pledge by President Xi Jinping to promote growth. Indian market may drift lower at open on Friday after US stocks fell for a fifth day running overnight, underscoring a cautious start to the year. However, strong buying was seen in heavyweights, especially auto, NBFCs, and IT stocks, driven by optimism about upcoming quarterly earnings.

Markets Around Us

BSE Sensex –79,445.47 (-0.62%)

Nifty 50 – 24,151.55 (-0.15%)

Bank Nifty – 51,517.40 (-0.17%)

Dow Jones – 42,416.67 (0.05%)

Nasdaq – 19,271.14 (-0.21%)

FTSE – 8,260.09 (1.05%)

Nikkei 225 – 39,894.54 (0.00%)

Hang Seng – 19,823.33 (1.02%)

Sector: Retail

Avenue Supermarts Share Jump 10%

Avenue Supermarts Ltd., which operates the DMart chain, saw its shares rise by 10% on January 3 after releasing its business update for the October-December period of FY2024-25. The company reported a 17.5% increase in revenue, reaching Rs 15,565 crore, compared to the same period last year. As of December 31, DMart had 387 stores. Despite the positive growth, some international brokerages like Macquarie and Morgan Stanley remain cautious about the stock, citing concerns over weaker-than-expected growth compared to historical trends and competition from quick commerce. Morgan Stanley did note that DMart’s Q3 revenue was slightly better than expected, driven by store growth and a 5.5% increase in same-store sales. On the other hand, CLSA is optimistic about DMart, maintaining a strong buy rating and a target price of Rs 5,360 per share, highlighting the company’s strong revenue performance and potential in private labels.

Why it Matters:

Avenue Supermarts’ 10% share surge reflects strong revenue growth, signaling business resilience. Brokerages have mixed views, with some cautious on competition and growth, while others remain optimistic about its potential. This highlights market uncertainty and varying investor confidence in DMart’s future performance.

 NIFTY 50 GAINERS

ONGC – 252.31 (2.54%)

HCLTECH – 1990.80 (0.94%)

SBILIFE – 1434.05 (0.83%)

 

NIFTY 50 LOSERS

HEROMOTOCO – 4199.10 (-2.61%)

HINDALCO – 595.40 (-0.60%)

INFY – 1947.20 (-0.54%)

Sector: Beverages

Varun Beverages Invests Rs 412 Crore in Bevco

Varun Beverages (VBL) has invested Rs 412.8 crore in its South African subsidiary, The Beverage Company (Bevco), by purchasing shares. This investment will help Bevco repay its current debts and strengthen its financial position for future growth. Bevco manufactures and distributes PepsiCo-branded and its own non-alcoholic drinks in South Africa, and also holds PepsiCo franchise rights in Lesotho and Eswatini. VBL, a major bottling partner for PepsiCo, raised funds to support its subsidiaries and business growth. This move follows VBL’s expansion into Africa, with recent acquisitions of two African beverage companies. The company is focusing on growth opportunities in Africa, which it sees as a key market for the next 20 years. Varun Beverages has shown consistent positive returns since its listing, with its stock delivering a 30% return in 2024, and is considered one of Axis Securities’ top picks for 2025.

Why it Matters:

Varun Beverages’ investment strengthens its South African subsidiary, boosting growth and debt repayment. The company is expanding its footprint in Africa, a key growth market. This move signals confidence in VBL’s long-term strategy and enhances its global presence.

Desh Duniya Bazaar

Around the World

Most Asian stock markets were up on Friday, driven by strong gains in South Korean shares, while Chinese stocks recovered from early losses due to expectations of new stimulus measures. Japan’s markets were closed for the holidays, leading to lower trading volumes. South Korea’s KOSPI index rose nearly 2%, ending a five-day losing streak, after the government announced policies to attract foreign investment and boost domestic demand amid political and economic challenges. These efforts came as South Korea faces political instability, including the impeachment of President Yoon Suk Yeol. Other regional markets, like the Philippines, Singapore, and Australia, also saw gains, encouraged by South Korea’s recovery. In China, stocks were mixed, but hopes of additional stimulus from the government supported the market. The People’s Bank of China hinted at interest rate cuts in 2025 to further stimulate the economy, following weaker-than-expected manufacturing data for December.

Option Traders Corner

 Max Pain

Nifty 50 – 24,100

Bank Nifty – 52,000

Nifty 50 – 24,055 (Pivot)

Support – 23,884, 23,580, 23,409

Resistance – 24,359, 24,530, 24,834

Bank Nifty – 51,423 (Pivot)

Support – 51,174, 50,743, 50,494

Resistance – 51,854, 52,103, 52,534

Did you know?

CSB Bank's Gold Loan Business Sees 36% Growth

CSB Bank’s gold loan portfolio surged to ₹13,018 crore in Q3FY24, reflecting a robust 36.28% increase compared to ₹9,553 crore in the same quarter last year. This growth highlights the bank’s strong performance in the gold loan segment, driven by increased demand for secured lending. The growth trajectory is a positive sign of the bank’s expanding footprint in the lending market, particularly in the context of rising interest in gold-backed financing options.

Have you checked our Top Stocks for 2025 ? Click below

Newsletter: 02nd January 2025

RailTel Wins Big orders

Aaj Ka Bazaar

Wall Street remained closed on Wednesday on account of New Year’s Day, and investors are expected to adopt a cautious approach as markets reopen. Most Asian markets were trading lower, with China’s CSI 300 down by 0.74%, Hong Kong’s Hang Seng Index declining by 1.78%, and Japan’s Nikkei dropping by 0.96%. The Indian market is anticipated to open on a muted note and may trend lower later in the day, as suggested by the flat trading of GIFT Nifty. On stock-specific news, RailTel Corporation of India Ltd, a telecom infrastructure provider, secured a ₹78.43-crore order from Bharat Coking Coal Ltd on Wednesday. The order involves implementing an integrated IT-based security infrastructure along with related services.

Markets Around Us

BSE Sensex -78,705.37 (0.25%)

Nifty 50 – 23,798.25 (0.23%)

Bank Nifty – 51,138.20 (0.15%)

Dow Jones – 42,613.88 (0.17%)

Nasdaq – 19,305.25 (-0.93%)

FTSE – 8,173.02 (0.00%)

Nikkei 225 – 39,894.54 (0.00%)

Hang Seng – 20,059.95 (0.00%)

Sector: Telecom

RailTel Wins ₹78 Crore Deal

RailTel Corporation’s shares rose 2.58% to ₹415.40 in early trade on January 2 after securing a ₹78.43 crore order from Bharat Coking Coal. The project involves implementing IT-based security infrastructure and related services, with completion targeted by August 28, 2025. Recently, RailTel also bagged contracts worth ₹37.99 crore from Central Warehousing Corporation and ₹24.5 crore from Haryana State Electronics Development Corporation for maintenance services. The stock, which hit a 52-week high of ₹618 in July 2024 and a low of ₹301.35 in March 2024, is currently 32.78% below its peak but 37.85% above its yearly low.

Why it Matters:

RailTel Corporation’s recent ₹78.43 crore order from Bharat Coking Coal enhances its project portfolio, ensuring revenue flow until August 2025. This follows other significant contracts in December, showcasing its expanding role in IT-based security and maintenance services. The stock’s early 2% rise reflects investor optimism, even as it trades below its 52-week high, indicating market confidence in the company’s growth trajectory.

 NIFTY 50 GAINERS

BAJFINANCE – 7100.00 (2.37%)

KOTAKBANK – 1821.25 (1.84%)

BAJAJFINSV – 1595.40 (1.21%)

 

NIFTY 50 LOSERS

WIPRO – 297.85 (-0.82%)

HEROMOTOCO – 4154.35 (-0.72%)

NTPC – 332.00 (-0.49%)

Sector: Utility Vehicles

Maruti Suzuki sales surge 30%

Maruti Suzuki’s shares rose over 3% on January 1 after the company reported a 30% increase in December car sales, totaling 1,78,248 units compared to 1,37,551 units in the same period last year. Domestic sales, including light commercial vehicles and supplies to Toyota Kirloskar Motor, grew 24.44% to 1,32,523 units. The company also achieved its highest-ever monthly exports at 37,419 units, marking a significant growth from 26,884 units a year ago. Sales of mini cars like Alto and S-Presso surged, while compact models such as Baleno, Swift, and WagonR also saw notable increases. Utility vehicle sales, including models like Brezza and Grand Vitara, rose by over 20%, highlighting strong demand across segments. However, sales of the mid-sized sedan Ciaz declined slightly. This robust performance underlines Maruti Suzuki’s growth momentum and its dominance in the domestic and export markets.

Why it Matters:

Maruti Suzuki’s strong December sales growth reflects robust consumer demand and market leadership across segments. The record exports and increased domestic sales highlight the company’s resilience and strategic positioning. This performance signals potential growth opportunities for investors in India’s automotive sector.

Desh Duniya Bazaar

Around the World

Asian currencies traded mostly flat or weaker on Thursday, influenced by concerns over slower U.S. rate cuts in 2025, which boosted the dollar. The Chinese yuan dropped 0.3% to its lowest level in over a year as disappointing manufacturing PMI data raised worries about China’s slowing recovery despite recent stimulus. Regional trading remained muted due to New Year holidays, with major markets like Japan closed. The dollar stayed strong, driven by expectations of cautious Federal Reserve policies and potential protectionist moves by the U.S. under President Trump. The Japanese yen struggled after a dovish 2025 outlook from the Bank of Japan, while the South Korean won, a weak performer in 2024, saw slight recovery despite ongoing political turmoil. Meanwhile, the Singapore dollar rose 0.2% on better-than-expected GDP growth, and the Australian dollar recovered 0.5% from lows. The Indian rupee fell 0.3% after hitting a record low of 86 per dollar.

Option Traders Corner

Max Pain

Nifty 50 – 23,800

Bank Nifty – 51,900

Nifty 50 – 23,709 (Pivot)

Support – 23,596, 23,449, 23,326

Resistance – 23,856, 23,969, 24,116

Bank Nifty – 50,955 (Pivot)

Support – 50,589, 50,118, 49,752

Resistance – 51,426, 51,792, 52,263

Did you know?

Indian Digital Milestone Achieved

India has generated over 138 crore Aadhaar numbers, transforming digital identity verification. DigiLocker now serves 37 crore users, securely storing 776 crore documents. The DIKSHA platform has facilitated 556 crore learning sessions and achieved nearly 18 crore course enrollments. 

Have you checked our Top Stocks for 2025 ? Click below

Newsletter: 01st January 2025

Escorts Kubota Sales Drop

Aaj Ka Bazaar

The weakness on Wall Street extended the sharp pullback seen over the two previous sessions as some traders cashed in on this year’s substantial gains. Despite the recent softness, the major averages still posted standout gains for 2024, with the tech-heavy Nasdaq soaring by nearly 30% for the year. The Dow also surged by almost 13% for the year, while the S&P 500 posted its second consecutive yearly gain of more than 20%, spiking by more than 23%. Asian markets, including China, Japan, Australia, New Zealand, Taiwan, Hong Kong and South Korea, remain closed today for the New Year 2025 holiday. Crude oil prices ended higher on Tuesday but ended 2024 with a 3% loss, slipping for a second straight year amid persisting concerns about the outlook for global oil demand due to weak Chinese growth and uncertainty about interest-rate trajectory. Indian market looks set to open lower on Wednesday, the first trading session of the New Year 2025, due to ongoing concerns about a firmer dollar and elevated US Treasury yields. On stock-specific news, ITC will be focused as the company is set to finalise the demerger of its hotel business, with January 1, 2025, as the effective date.

Markets Around Us

BSE Sensex –77,960.83 (-0.23%)

Nifty 50 – 23,580.70 (-0.27%)

Bank Nifty – 50,612.20 (-0.26%)

Dow Jones – 42,540.54 (-0.08%)

Nasdaq – 19,305.25 (-0.93%)

FTSE – 8,173.02 (0.64%)

Nikkei 225 – 39,894.54 (0.00%)

Hang Seng – 20,059.95 (0.00%)

Sector: Tractors

ITC Hotels Gains ₹1,500 Crore Boost

Shares of Escorts Kubota Ltd fell by over 3% on January 1, 2025, after the company reported a 10.82% drop in tractor sales for December compared to the same month last year. The company sold 5,472 tractors in December, down from 6,136 in December 2024. This news ended the company’s three-day streak of stock gains. The stock reached an intraday low of Rs 3,225.55 per share, down 3.21%, and was trading at Rs 3,248.25 per share by 10 a.m., down 2.53%. Despite the drop in sales, the company’s revenue for the second quarter remained almost the same as last year at Rs 2,488.5 crore, and it posted a strong 54% growth in net profit to Rs 324 crore. The company’s EBITDA also stayed stable at Rs 265 crore, and its margin was steady at 10.6%.

Why it Matters:

The drop in tractor sales signals a slowdown in demand, which impacts Escorts Kubota’s growth outlook. This decline affects investor sentiment, leading to a fall in stock price. As tractor sales are a key revenue driver, this could influence future earnings and the company’s financial stability.

 NIFTY 50 GAINERS

APOLLOHOSP – 7385.00 (1.21%)

ASIANPAINT – 2298.00 (0.73%)

LT – 3630.55 (0.63%)

 

NIFTY 50 LOSERS

BAJAJAUTO – 8627.85 (-1.94%)

ADANIPORTS – 1368.95 (-1.41%)

DRREDDY – 1368.95 (-1.41%)

Sector: Power generation

SJVN Stocks jumps 6.5% after MoU

SJVN’s stock surged 6.5% on January 1, 2025, after the company signed a Memorandum of Understanding (MoU) with the Bihar government for a Rs 5,663 crore project. The company will develop the 1,000 MW Hathidah Durgawati Pumped Storage Project (PSP), which will create jobs and attract investments. The project will have a tariff of Rs 9.39 per kWh and is expected to generate a daily peak output of 6.325 million units of energy. SJVN is also working on other pumped storage projects in Bihar and across various states. The announcement sparked heavy trading, with over two crore shares changing hands, far above the usual monthly average. This project is part of SJVN’s broader plan to develop about 12,000 MW of power storage projects, which strengthens the company’s position in the energy sector.

Why it Matters:

The MoU with the Bihar government boosts SJVN’s growth prospects, significantly increasing its project portfolio. The Hathidah Durgawati project enhances the company’s energy capacity and employment generation. The stock surge reflects investor confidence in the company’s future earnings and market expansion.

Desh Duniya Bazaar

Around the World

Asian stocks remained subdued on Wednesday, following a decline on Wall Street due to low trading volumes as the year draws to a close. Many markets, including Japan, South Korea, and Thailand, were closed for the day, while others like Hong Kong and Australia had shorter sessions. Chinese manufacturing data for December showed continued growth for the third month, supported by recent stimulus measures, but the slower-than-expected expansion raised concerns about the country’s economic recovery amidst its ongoing property crisis. Chinese markets saw slight losses, while Hong Kong gained 0.5%. Investors are waiting for more details on Beijing’s fiscal policy. Australia’s ASX 200 dropped 0.8%, reflecting concerns over China’s economic performance. India’s Nifty 50 Futures fell 0.1%, and Malaysia’s KLCI saw a marginal dip. Meanwhile, political uncertainty continues in South Korea, as President Yoon Suk Yeol faces controversy following his impeachment. South Korean markets remained closed today.

Option Traders Corner

Max Pain

Nifty 50 – 23,800

Bank Nifty – 52,000

Nifty 50 – 23,598 (Pivot)

Support – 23,506, 23,368, 23,227

Resistance – 23,736, 24,827, 23,965

Bank Nifty – 50,801 (Pivot)

Support – 50,658, 50,456, 50,312

Resistance – 51,003, 51,114, 51,349

Did you know?

Indian Digital Milestone Achieved

India has generated over 138 crore Aadhaar numbers, transforming digital identity verification. DigiLocker now serves 37 crore users, securely storing 776 crore documents. The DIKSHA platform has facilitated 556 crore learning sessions and achieved nearly 18 crore course enrollments. 

Have you checked our latest Brand Ad ? Click Below to check now!

Newsletter: 31st December 2024

ITC Hotels: New Chapter

Aaj Ka Bazaar

The early weakness on Wall Street reflected an extension of the sell-off seen last Friday, with some investors taking profits going into the end of the year. In US economic news, the National Association of Realtors reported that pending home sales surged much more than expected in November. Asian markets followed Wall Street lower this morning, though mainland Chinese and Hong Kong stocks bucked the weak trend to post marginal gains after the release of mixed PMI data. India’s benchmark indexes are set for a muted start on Tuesday, the final session of 2024, tracking other Asian peers, as elevated US Treasury yields continue to weigh on emerging markets. On stock-specific news, ITC Hotels, as a new entity post demerger, will have a firm zero debt balance sheet with cash and cash equivalents of Rs.1,500 crore to cater to robust growth going forward. 

Markets Around Us

BSE Sensex –77,826.57 (-0.54%)

Nifty 50 – 23,550.60 (-0.40%)

Bank Nifty – 50,817.85 (-0.26%)

Dow Jones – 42,551.88 (-0.04%)

Nasdaq – 19,483.59 (-1.21%)

FTSE – 8,121.01 (-0.35%)

Nikkei 225 – 39,894.54 (0.00%)

Hang Seng – 20,111.18 (0.38%)

Sector: Hotels

ITC Hotels Gains ₹1,500 Crore Boost

ITC will transfer ₹1,500 crore in cash and assets, including trademarks, to its demerged hotel business, ITC Hotels, to support growth and contingency needs. Starting January 1, 2025, ITC Hotels will operate with a strong, debt-free balance sheet, generating cash to fund capital investments like renovations, ongoing projects, and new greenfield developments. The company plans to explore selective acquisitions and value-driven partnerships. Employees from ITC’s hotel division will transition to ITC Hotels with their current terms maintained. Shareholders of ITC will receive 60% of ITC Hotels’ equity, while ITC will retain the remaining 40%. Investments in non-hospitality ventures like EIH and HLV will remain with ITC. ITC Hotels will also manage operations at ITC Grand Central, Mumbai, under a service agreement. The demerger positions ITC Hotels for accelerated growth in the hospitality sector. Shares will be allotted to ITC shareholders based on January 6, 2025, as the record date.

Why it Matters:

The demerger enables ITC Hotels to operate independently with a strong, debt-free financial position, focusing on growth and strategic acquisitions. Shareholders benefit directly by owning equity in the hotel business, unlocking potential value. This move positions ITC Hotels to expand and compete effectively in the growing hospitality sector.

 NIFTY 50 GAINERS

BEL – 289.55 (1.63%)

KOTAKBANK – 1765.15 (1.40%)

ONGC – 235.50 (1.23%)

 

NIFTY 50 LOSERS

TECHM – 1702.60 (-2.20%)

INFY – 1868.35 (-1.98%)

TCS – 4078.75 (-1.92%)

Sector: Ship Building

Mazagon Docks secures Rs 1.990-Crore Contract

Mazagon Dock has secured a Rs 1,990 crore contract from the Defence Ministry to build and integrate an Air Independent Propulsion (AIP) Plug for submarines, enhancing their underwater endurance. This technology, developed by DRDO with industry partners L&T and Thermax, allows diesel-electric submarines to operate longer without surfacing for oxygen. The AIP will be retrofitted onto Scorpene submarines, with the first expected during a refit in 2025. The project supports the ‘Aatmanirbhar Bharat’ initiative and is expected to create nearly three lakh man-days of employment. Additionally, the government signed an Rs 877 crore contract with Naval Group of France to equip Kalvari-Class submarines with Electronic Heavy Weight Torpedoes, boosting their firepower capabilities.

Why it Matters:

This project boosts India’s naval capabilities by extending submarine endurance with advanced Air Independent Propulsion (AIP) technology. It aligns with the ‘Aatmanirbhar Bharat’ initiative, reducing reliance on foreign systems. Additionally, it strengthens the defense sector and creates significant employment opportunities.

Desh Duniya Bazaar

Around the World

Asian stocks remained quiet on Tuesday, following Wall Street’s drop amid low year-end trading volumes. Several markets, including Japan, South Korea, and Thailand, were closed, while others like Hong Kong and Australia operated shorter sessions. Chinese manufacturing data showed growth for a third month in December, supported by recent stimulus measures, but the slower-than-expected expansion raised concerns about the economy’s health amid a property crisis. Chinese markets fell slightly, while Hong Kong gained 0.7%. Investors await details on Beijing’s upcoming fiscal measures. Australia’s ASX 200 dropped 0.9%, reflecting concerns about China’s economic outlook. India’s Nifty 50 Futures dipped 0.2%, and Malaysia’s KLCI edged lower. Meanwhile, South Korea faces political turmoil, with President Yoon Suk Yeol arrested after his impeachment over imposing martial law. Markets in South Korea remained closed.

Option Traders Corner

Max Pain

Nifty 50 – 23,800

Bank Nifty – 52,000

Nifty 50 – 23,719 (Pivot)

Support – 23,524, 23,403, 23,208

Resistance – 23,840, 24,035, 24,156

Bank Nifty – 51,216 (Pivot)

Support – 50,454, 49,955, 49,192

Resistance – 51,715, 52,478, 52,976

Did you know?

Indian Digital Milestone Achieved

India has generated over 138 crore Aadhaar numbers, transforming digital identity verification. DigiLocker now serves 37 crore users, securely storing 776 crore documents. The DIKSHA platform has facilitated 556 crore learning sessions and achieved nearly 18 crore course enrollments. 

Have you checked our latest Brand Ad ? Click Below to check now!

Weekly Report: 30th December 2024

Weekly Trend Report

Week Gone By

The market witnessed modest gains during the holiday-thinned week. The absence of major market-moving events, with most key events either concluded or scheduled for January, most likely kept investor participation muted. However, broader market relatively underperformed the frontline indices. India’s foreign exchange reserves dipped by $1.98 billion to $652.87 billion as of December 13, according to data shared by the Reserve Bank of India (RBI) on Friday. On the Global front,  Investors assessed November inflation numbers from Tokyo, which saw its headline inflation rate come in at 3%, compared to 2.6% in October. Core inflation, which excludes costs of fresh food, rose to 2.4%. Tokyo’s inflation numbers are widely considered to be a leading indicator of nationwide trends.

Week Ahead

The Indian equity market’s trajectory next week will be influenced by both domestic and global factors. Key areas of focus will include foreign institutional investor (FII) and domestic institutional investor (DII) flows, rupee movement, and crude oil prices. On the data front, the auto companies listed on the domestic bourses will announce their respective sales figures for the month of December 2024 on Wednesday. On the macro front, India’s current account figures will be made public on Tuesday (December 31).  On Tuesday (December 31), China’s official NBS Manufacturing PMI will be announced on Tuesday. In the United States, pending home sales figures will be announced on Monday (December 30). 

Technical Overview
  • Following a substantial decline in the week prior, the Nifty index engaged in efforts to stabilize during the truncated trading week, remaining just below critical resistance levels.
  • Over four trading days, the Nifty faced resistance at the 200 DMA and consistently failed to achieve a closing value above this benchmark. The trading range became considerably narrower, as the Nifty oscillated within a limited span of 292 points before concluding the week with a marginal gain of 226 points.
  • Notably, volatility diminished relative to the previous week; during a surge of 15.48%, the India VIX experienced a decline of 12.17%, ultimately settling at 13.24.
  • As the week concluded, all broader indices continued to remain below their 50 DMA, with Microcaps being a notable exception, as they showed improvements in the negative momentum that had characterized the prior week.  Sector-wise, a majority of indices persisted in exhibiting a strained trend, although some enhancement in negative momentum was observed.
  • In terms of market breadth, the majority of stocks demonstrated a lack of strength in their intermediate positions, with the percentages of stocks trading above 10 and 20 DMAs significantly falling beneath median levels, accompanied by a negative crossover. Furthermore, the percentages of stocks trading above 50 and 200 DMA dipped below median levels once more, necessitating a cautionary stance.
  • Indicators related to momentum market breadth remained on the weaker side, suggesting diminished stock participation, thereby reducing the likelihood of successful trades within this market framework.
  • From a technical perspective, the Nifty is situated at a critical juncture. On one hand, it has closed below the resistance level of 200 DMA (23861), as well as the prior gap area near 24150, thereby forging this region into a crucial resistance zone. Conversely, the Nifty holds a position just above the 50 WMA at 23568, which serves as immediate support, followed by a pivotal support level near 23250.
  • This situation positions the Nifty within a fragile range of 24150-23250. It is imperative for the Nifty to maintain its standing above the 50WMA; any violation of the support zone may precipitate sustained market weakness and induce an intermediate corrective trend. Furthermore, it is crucial to            assert that any prospective technical rebound will only be tenable if the Nifty is able to surpass and close above its 200 DMA. The longer the Nifty  remains below this threshold, the more susceptible it becomes to retesting the support zone.
  • Consequently, it is prudent to adopt a cautious approach accompanied by effective risk management strategies in the current market context, emphasizing the importance of waiting for conditions to become more favorable.

To view the detailed report click here to   Download 

Newsletter: 27th December 2024

Microfinance Loan Auction News

Aaj Ka Bazaar

Wall Street indices ended mixed on Thursday in subdued trading volumes. The Dow Jones Industrial Average rose by 0.06%, while the S&P 500 and Nasdaq edged down by 0.04% and 0.05%, respectively. In the Asia-Pacific region, markets also traded mixed, with some reopening after the Boxing Day holiday. Japan’s Nikkei and China’s CSI 300 were trading higher, whereas the Hang Seng and Shanghai Composite saw declines. Based on global cues and GIFT Nifty indications, Indian indices are expected to open on a flat note today. On stock-specific news, Gensol Engineering has secured an EPC contract worth ₹897 crore from NTPC Renewable Energy for developing a 225 MW grid-connected solar PV project at GSECL Solar Park in Gujarat. This partnership underscores confidence in Gensol’s expertise in project management and renewable energy.

Markets Around Us

BSE Sensex –78,743.71 (0.35%)

Nifty 50 – 23,801.40 (0.22%)

Bank Nifty – 51,268.20 (0.19%)

Dow Jones – 43,234.55 (-0.19%)

Nasdaq – 20,227.11 (-0.22%)

FTSE – 8,136.99 (0.00%)

Nikkei 225 – 40,110.63 (1.37%)

Hang Seng – 20,101.19 (0.03%)

Sector: Banking

Indusland Bank Shares Gain Momentum

IndusInd Bank’s shares rose 1.4% in early trade on December 27 after the bank announced plans to sell Rs 1,573 crore worth of non-performing microfinance loans. These loans, which represent 4.8% of its microfinance portfolio, will be auctioned through a public bidding process with a reserve price of Rs 85 crore, amounting to just over 5% of the total principal. The bank’s microfinance portfolio was valued at Rs 32,723 crore as of September 30, with Rs 2,259 crore identified as bad loans. Despite this sale, IndusInd Bank faces challenges, as its Q2FY25 results showed a 39.5% drop in net profit and an 87% rise in provisions due to stress in its microfinance book. Analysts expect continued pressure on profitability in the near term, with slippages likely to increase and loan growth slowing in the microfinance sector.

Why it Matters:

The auction of Rs 1,573 crore in microfinance NPAs signals IndusInd Bank’s efforts to manage rising bad loans and improve asset quality. This move highlights ongoing stress in the microfinance sector, which impacts the bank’s profitability and growth. Investors are closely watching the outcome as it could influence the bank’s future financial stability.

 NIFTY 50 GAINERS

BAJAJAUTO – 9097.60 (2.27%)

TRENT – 7218.55 (2.19%)

BAJAJFINANCE – 6930.05 (1.68%)

 

NIFTY 50 LOSERS

APOLLOHOSP – 7193.95 (-0.93%)

HCLTECH – 1886.70 (-0.74%)

TCS – 4151.55 (-0.42%)

Sector: Cement

UltraTech Cement Buys Star Cement Stake

UltraTech Cement has acquired an 8.69% stake in Star Cement for Rs 851 crore, purchasing up to 3.7 crore shares at Rs 235 per share. This investment reflects a strategic move to secure a minority position in Star Cement, aligning with UltraTech’s growth plans in the cement sector. Following the transaction, Star Cement saw a large block deal with 3.36 crore shares worth Rs 766 crore changing hands, driving its stock up by over 7% to Rs 247.30. Earlier this year, UltraTech acquired a significant stake in India Cements to strengthen its presence in the southern market. The cement industry is undergoing consolidation, with companies focusing on demand recovery, improved margins, and growth fueled by government infrastructure projects. Analysts remain optimistic about cement demand in the second half of FY25 and FY26, with UltraTech emerging as a preferred choice for its strategic investments and market positioning.

Why it Matters:

UltraTech’s acquisition of an 8.69% stake in Star Cement strengthens its strategic position in the competitive cement industry. This move aligns with its broader growth plans amid ongoing industry consolidation. Investors see it as a signal of confidence in future demand recovery and sector expansion.

Desh Duniya Bazaar

Around the World

Asian stocks saw mixed performance on Friday, with Japan leading gains as inflation in Tokyo outpaced expectations, raising chances of a near-term Bank of Japan rate hike. The Nikkei 225 climbed 1.5%, buoyed by auto stocks like Toyota amid a weaker yen, while the TOPIX rose 1%. Despite weaker-than-expected factory output in November, Japanese equities gained on optimism about monetary policy. Chinese markets also edged higher as industrial profits contracted at a slower pace in November, while investors awaited details on Beijing’s fiscal stimulus plans. The Hang Seng gained 0.2%, and the Shanghai Composite added 0.3%. Meanwhile, South Korea’s KOSPI slid over 1.5% due to political turmoil as the acting president faces an impeachment vote, adding uncertainty to the nation’s economic outlook. Elsewhere, Australia’s S&P/ASX 200 rose 0.4%, Malaysia’s FTSE KLCI jumped over 1%, and Singapore’s Straits Times Index edged up 0.2%.

Option Traders Corner

 Max Pain

Nifty 50 – 23,800

Bank Nifty – 52,000

 

Nifty 50 – 23,752 (Pivot)

Support – 23,651, 23,551, 23,450

Resistance – 23,851, 23,953, 24,052

 

Bank Nifty – 51,287 (Pivot)

Support – 50,835, 50,499, 50,446

Resistance – 51,623, 52,076, 52,411

Did you know?

Indian Digital Milestone Achieved

India has generated over 138 crore Aadhaar numbers, transforming digital identity verification. DigiLocker now serves 37 crore users, securely storing 776 crore documents. The DIKSHA platform has facilitated 556 crore learning sessions and achieved nearly 18 crore course enrollments. 

Have you checked our latest Brand Ad ? Click Below to check now!

Newsletter: 26th December 2024

NTPC Green Lock-In Ends

Aaj Ka Bazaar

On Tuesday, Wall Street indices concluded a global share rally in light trading, with markets closing early for Christmas Eve. The Dow Jones Industrial Average gained 0.91%, the S&P 500 gained 1.1%, and the Nasdaq Composite climbed 1.35%. US markets remained closed on Wednesday because of Christmas. Asian markets also posted gains, with Japan’s Nikkei rising 0.43%, driven by positive sentiment from the US market’s extended rally, although several regional markets were closed for the holidays. Indian benchmark indices are projected to open on a subdued note, as suggested by the flat performance of GIFT Nifty in early trading. On stock-specific news, Bharat Petroleum Corporation Limited (BPCL) announced two key updates on Tuesday: the initiation of pre-project activities for a greenfield refinery-cum-petrochemical complex on the East Coast in Andhra Pradesh, involving an investment of Rs. 6,100 crores and its success in NTPC’s reverse auction for 1,200 MW ISTS-connected solar PV projects across India.

Markets Around Us

BSE Sensex -78,528.33 (0.08%)

Nifty 50 – 23,758.15 (0.13%)

Bank Nifty – 51,324.30 (0.18%)

Dow Jones – 43,237.20 (-0.17%)

Nasdaq – 20,031.13 (1.35%)

FTSE – 8,136.99 (0.00%)

Nikkei 225 – 39,130.43 (0.24%)

Hang Seng – 20,098.29 (0.00%)

Sector: : Power Generation

NTPC Locks In Ends, Shares Free Trading

As the lock-in period expired, 1.83 crore shares of NTPC Green Energy, accounting for a 2% stake in the company, became eligible for trading. This allows anchor investors the option to sell up to 50% of their holdings, though the end of the lock-in does not guarantee immediate sales. Since its market debut less than a month ago, the stock has gained 9%, providing an opportunity for partial profit-taking. Listed at Rs 111.50 on November 29, a 3.24% premium over its IPO price of Rs 108, NTPC Green raised Rs 10,000 crore through a fresh issue with no offer-for-sale component. Proceeds are being used to repay loans of its subsidiary, NTPC Renewable Energy Ltd, and for general corporate purposes. As a ‘Maharatna’ entity, NTPC Green focuses on renewable energy, including solar, wind, and green hydrogen initiatives, strengthening its position in India’s renewable energy sector.

Why it Matters:

The lock-in expiry of NTPC Green Energy shares introduces potential market volatility as 1.83 crore shares become tradable. Despite the stock’s 9% gain since its listing, anchor investors may offload holdings, influencing prices. The company’s focus on renewable energy reinforces its strategic importance in India’s green transition.

 NIFTY 50 GAINERS

NIFTY 50 GAINERS

SBILIFE – 1407.90 (1.51%)

BPCL – 295.90 (1.34%)

MARUTI – 10856.00 (1.11%)

 

NIFTY 50 LOSERS

ASIANPAINT – 2264.80 (-0.84%)

TRENT – 6952.65 (-0.78%)

BRITANNIA – 4718.00 (-0.55%)

Sector: : Civil Constructions

Ramky Infra Rise on HMWSSB Contract

Ramky Infrastructure Limited’s stock rose 3.83% to Rs 627.00 after receiving a Letter of Award (LoA) for a Rs 215.08 crore contract from the Hyderabad Metropolitan Water Supply and Sewerage Board (HMWSSB) for managing and maintaining sewage treatment plants over five years. However, the company also faced warnings from the NSE and BSE for not meeting the required frequency of risk management committee meetings. Financially, Ramky reported a 12.62% increase in PAT to Rs 973 million for the September 2024 quarter compared to the June quarter, and its EBITDA grew by 7.2% year-on-year. Yet, net profit for Q2FY25 fell by 30.57% to Rs 78.19 crore from the previous year. The company continues to secure contracts, including biomining projects worth over Rs 200 crore. Despite these developments, its stock returns have dropped 21.16% over the past year, with a market capitalisation of Rs 4,310 crore.

Why it Matters:

Ramky Infrastructure’s new Rs 215.08 crore contract strengthens its order book and highlights its expertise in urban infrastructure projects. Despite financial warnings and a drop in annual stock performance, the company’s growing EBITDA and consistent contract wins reflect its resilience. Investors should weigh the operational growth against regulatory non-compliance concerns.

Desh Duniya Bazaar

Around the World

Asian stock markets were mostly subdued on Thursday due to thin trading, with many major markets closed for holidays. Japanese shares outperformed, with the Nikkei 225 rising nearly 1% after news of a record $735 billion budget for the next fiscal year aimed at tackling rising expenses and supporting economic growth. Meanwhile, the Bank of Japan hinted at a possible interest rate hike next year, pending global economic conditions. Chinese stocks remained flat despite plans for record fiscal stimulus, including $411 billion in special treasury bonds and relaxed investment rules for local officials. Elsewhere, South Korea’s KOSPI and Thailand’s SET Index saw little movement, while Singapore’s Straits Times Index dipped 0.2%. India’s Nifty 50 Futures signaled a weak start, reflecting continued losses. Markets remain cautious as investors await clearer policy directions and global economic signals.

Option Traders Corner

Max Pain

Nifty 50 – 23,800

Bank Nifty – 52,000

 

Nifty 50 – 23,760 (Pivot)

Support – 23,653, 23,577, 23,470

Resistance – 23,835, 23,942, 24,017

 

Bank Nifty – 51,250 (Pivot)

Support – 51,110, 51,106, 50,875

Resistance – 51,364, 51,495, 51,608

Did you know?

Indian Digital Milestone Achieved

India has generated over 138 crore Aadhaar numbers, transforming digital identity verification. DigiLocker now serves 37 crore users, securely storing 776 crore documents. The DIKSHA platform has facilitated 556 crore learning sessions and achieved nearly 18 crore course enrollments. 

Have you checked our latest Brand Ad ? Click Below to check now!

Newsletter: 24th December 2024

Whirlpool-PG Deal Sparks Gains

Aaj Ka Bazaar

The US markets registered another rally on Monday, with Nasdaq and DJIA registering three consecutive rallies, while S&P registered its second day of the rally. The advance came in on the back of support provided by the Megacap stocks, which have outsized influence in the indices. On the Asiatic front, Nikkei had started the day on a firmer footing; however, could not sustain the momentum and slid in the later minutes. Hang Seng maintains a substantial holding at the 20,000 mark after a surge in mainland Chinese buying. The Indian bourses are expected to open on a positive note, mainly on the back of a positive global backdrop. On the stock-specific front, Aurobindo Pharma gains UK approval for its cancer drug Bevqolva. 

Markets Around Us

BSE Sensex -78,543.25 (0.02%)

Nifty 50 – 23,756.05 (0.01%)

Bank Nifty – 51,300.00 (-0.03%)

Dow Jones – 42,900.59 (-0.01%)

Nasdaq – 19,760.97 (0.96%)

FTSE – 8,102.72 (0.22%)

Nikkei 225 – 39,063.85 (-0.25%)

Hang Seng – 20,114.80 (1.15%)

Sector: : Consumer Electronics

PG Electroplast Rises on Whirlpool Deal

Shares of PG Electroplast rose over 5% to Rs 1,002 on December 24 after announcing an expanded partnership with Whirlpool India for manufacturing semi-automatic washing machines. The agreement allows PG Electroplast to produce Whirlpool-branded washing machines at its Roorkee facility in Uttarakhand, adding to its existing role as a supplier of Whirlpool-branded air conditioners. This collaboration strengthens their business ties and supports future growth opportunities. PG Electroplast sees this partnership as a step toward boosting local manufacturing under the “Make in India” initiative. The company recently posted strong Q2 financial results, with net profit up 57% year-over-year to Rs 19.47 crore and operating revenues growing 45.8% to Rs 671.30 crore.

Why it Matters:

PG Electroplast’s expanded partnership with Whirlpool to manufacture semi-automatic washing machines strengthens its position in the home appliances sector and supports India’s “Make in India” initiative. This collaboration builds on their existing relationship and highlights room for future growth. The announcement comes as PG Electroplast continues to deliver strong financial performance.

 NIFTY 50 GAINERS

BHARTIARTL – 1597.75 (0.68%)

ADANIENT – 2350.90 (0.51%)

TATAMOTORS – 724.80 (0.36%)

 

NIFTY 50 LOSERS

INDUSINDBNK – 938.90 (-0.72%)

CIPLA – 1466.10 (-0.67%)

POWERGRID – 313.25 (-0.65%)

Sector: : Computers-Software & Consulting

Aurionpro expands in Europe, Shares Soar

Shares of Aurionpro Solutions rose over 4% on December 24 after announcing the acquisition of Paris-based financial services consulting firm Fenixys SAS for €10 million. This move expands Aurionpro’s presence in Europe, leveraging Fenixys’ decade-long experience in IT transformation projects for major banks in Europe and the Middle East. Fenixys specializes in Murex, treasury, and capital markets services, generating €8 million in revenue for FY24 with strong margins. Aurionpro expects the acquisition to boost earnings per share and align Fenixys’ margins with its 20% target within 18 months. The deal is anticipated to increase Aurionpro’s European market revenue share to double digits in two years, strengthening its position in the global financial technology consulting sector.

Why it Matters:

This acquisition strengthens Aurionpro’s foothold in the European market, a region where its presence was previously limited. It enhances the company’s revenue potential and aligns with its strategic focus on financial technology consulting. The move is expected to boost profitability and diversify its geographic income sources.

Desh Duniya Bazaar

Around the World

Most Asian stocks rose on Tuesday, driven by gains in technology shares following similar recovery trends in U.S. markets, though trading was light ahead of Christmas. Wall Street’s rally on Monday, after tech stocks bounced back from last week’s losses, provided positive momentum. In Japan, Honda shares surged 15% on news of a $7 billion buyback and potential merger talks with Nissan, which traded flat after earlier gains. Mitsubishi Motors, linked to the merger, rose 3.6%. Chinese markets gained about 0.7% on stimulus hopes, with Hong Kong’s Hang Seng rallying 1% as tech stocks led. Broader markets, including Australia, saw modest gains amid signals of future rate cuts, while South Korea slipped 0.2% on political concerns. Singapore’s market rose 0.5%, and Indian futures suggested a weak open after recent losses. Investors are awaiting key economic data and clarity on fiscal plans in China.

Option Traders Corner

Max Pain

Nifty 50 – 24,000

Bank Nifty – 51,500

 

Nifty 50 – 23,756 (Pivot)

Support – 23,643, 23,534, 23,421

Resistance – 23,866, 23,979, 24,088

 

Bank Nifty – 51,255 (Pivot)

Support – 51,092, 50,8668, 50,705

Resistance – 51,479, 51,642, 51,866

Did you know?

Indian Digital Milestone Achieved

India has generated over 138 crore Aadhaar numbers, transforming digital identity verification. DigiLocker now serves 37 crore users, securely storing 776 crore documents. The DIKSHA platform has facilitated 556 crore learning sessions and achieved nearly 18 crore course enrollments. 

Have you checked our latest Brand Ad ? Click Below to check now!