Photo Courtesy: timesofindia.indiatimes.com/business/india-business
Markets Today- 03 Jan 25
Smiles could been seen on investors face since the dawn of 2025. Market broke some upper resistance levels yesterday and created some new lower resistance levels for Nifty.
Good news is some good stocks which people had forgotten to see in their portfolio showed some momentum too…..like Bajaj groups, Auto stocks like Eicher, Force motors etc
It’s time of the year when Q3 results will start pouring in and start dictating stocks and market as whole. Remember Q3 results are generally good for many sectors as this period is Indias biggest festive season and high consumer based stocks generally do well incl autos, real estate, consumer, etc. So keep ur finger crossed for results which will start pouring in and will be bothering stocks for next one month.
As mentioned earlier US markets are continuously moving down for 5th trading session. And Asian markets are trading mixed today.
FIIs participated whole heartedly in rally yesterday and were Net buyers(after long time) with buy of plus 1506 cr. Whereas DII did some profit booking too besides buying heavily and were nearly flat with net buy of plus 22 cr.
The combine buy by FII and DII was whopping 27500 cr and sell of 25600 cr.
Levels to keep eye on today
Bullish above 24230
Bearish below- 24060 levels.
Market is expected to start on Negative note as suggested by Gift Nifty.
A strong lower support resistance at 24000 levels is there which market should resist today. In case it breaks, heavy correction is expected.
Stocks expected to zoom today–
V2Retail
RITES
Bank of Maharashtra
Avenue Supermart
Today some stocks may take a hit negatively too-
Zomato
Zee
There are some Strong Buy recommendations for big stocks by some leading fund houses. U can explore the options for ur portfolio –
SBI
CMP- 801
Tgt- 1020
Lupin
CMP- 2396
Tgt – 2750
ITC
CMP- 489
Tgt- 595
Polycab
CMP- 7390
Tgt 8300
It seems Gold indexes have read yesterdays evening TImes of India news where it predicted the Gold rates crossing 90k in 2025 and today the rates suddenly jumped to 80100 per 10 gm
Similarly hike in Silver too is seen today.
So stay cautious today, market sentiments aren’t still Bullish even after two days of rallys.. Keep an eye on lower resistance. Sideways moment is expected today too
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.
