Photo Courtesy: economictimes.indiatimes.com/markets/stocks
Markets Today- 08 Jan 25
Sequential negativity in market is new trend now!!
As govt declared that HMPV is nothing new to India and this is a normal Viral virus and released all medical data wrt same to ease the Apprehensions in people’s and market mind…… .. Here comes the forecast by National Statistical office wrt lowering of Indian Economy growth to 6.4% in FY 25 wrt RBI projection of 6.6%. Let’s wait and watch for reaction to this statistical survey in market today..
Good news to share… Bulls are back in China as their companies are seeing good growth in India. The latest revenue figures released shows lots of good revenue growth of China companies in India.
Coming into market statistics .. Markets did rebound yesterday to close above 23700. Today market pundits predict that market may try to consolidate between 23500-23900 levels. The breakout can be on either side today..
Levels to keep eyes on
Bullish above 23800
Bearish below 23640
Since last few days VIX levels for India has been falling and has reached 14.66 levels.. Fall of 6.33% yesterday
US markets aren’t responding well too.. Markets again fell and Dow Jones closed after fall of 0.4% ans Asian markets are all in red today.
So Indian markets are expected to open fla today… And market sentiments are likely to be sideways with level given above and hope markets doesn’t over react to Statistical data released wrt slow growth
Some stock news-
Tata steel after long may see some good momentum as it’s production rises 6% plus YOY
NTPC jumps into nuclear energy’s business as new unit wrt same has been created.
Auto index may see some boost today as some encouraging figures has been released which shows increase of 9% sales in 2024.
Two strong reversals wrt stock recommendations has been seen as per fund house data.
First is Vodafone. Which is trading currently at Rs 8 per share
Tgt – Rs 13
Sansera which was strong but stocks by various fund houses has now received SELL rating .
So again a day of sideways momentum today… So just keep eye on ur stock instead of market as whole.
Gold and silver surged and gained some momentum. Gold is back to 80010 levels and silver trading at 91000+ levels.
Happy Investing
Note: All investments are subject to market risks. Please check the fundamentals and other stock market parameters carefully in detail before investing. Also, it is always good to consult a qualified financial advisor for stock market investments. Opinions and Recommendations above are Authors’ personal, you are should carry out your own checks & balances and due diligence before investment.
