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Markets Today- 31 Jan 25
Third day of consolidation amidst volatility. Same was led
by big guns Reliance, HDFC Bank, Bharti Airtel. Real estate and pharma sector kept the market in green. But IT stocks were down as lots of profit booking was seen.
Reports says yesterday huge buying took place in budget linked sectors like Consumption, railways, renewable energy etc.
Today too a mute start from where the market ended yesterday can be seen .. So a flattish start expected.
No doubt yesterdays market showed strong support at 23200 levels and that’s a important resistance level. In case market breaks that today, it would straight come down near 23000 levels..But in case market moves up and breaks 23360 levels a strong momentum ….pre budget day can be seen.
Levels to keep eye on for Nifty
Bullish above 23350
Bearish below 23160
Indias VIX level improved from 18.39 yesterday to 17.39 levels.
Stock news
Kotak institutional Equities has given BUY rating for Acme Solar Holdings with tgt price of upwards 52% ie Rs 320 from present price of 210.✅
Adani Enterprise net profit fell by 97% yoy❌
Adani Port net profit rose 14%✅
L&T net profit in Q3 rose by 14%✅
GAIL net profit rose 28%. Also huge Dividend of Rs 6.5 per share declared with record date 7th Feb✅
PB Fintech famously known as Policy bazar Q3 reported a 48% incr in revenue✅
Bharti Airtel Africa business reported a 11 fold incr in profit yesterday✅
Waree energies has reported a incr of 257% you quarterly profits. ✅
JSW steel completed acquisition of 100% equity shares of Thyssenkrupp for over 4100 cr✅
All those who couldn’t get IPOs in last few months can now eye those stocks in February as , lockin period of these stocks are getting over in February (10-28 feb). These shares were allocated to investors and promoters for a fixed period. A huge correction can be expected in these stocks post lockin as few investors will start booking profit before end of this lockin period and promoters may exit their position post lock in period.To name few stocks whose lock in period is getting over are as follows
Brainbees
Ola
Swiggy
NTPC Green
SBFC fin
Take a call in case u hold these stocks.
As Q3 results season is on, some bigwig are lined up for their results today. Keep an eye on Vedanta, ONGC, Nestle, Marico, Indusind bank
Some Gold/Silver News
Sale of gold dropped in last one week by 80@% in Indias largest Gold market, in view of upcoming Tariff announcement by Trump and Budget tomorrow. Some expect some import duty could be levied on Gold by GOI which can definitely have lot of negative impact on Gold price in India.
Nevertheless Gold Prices in International market moved up to 85000 levels and is trading marginally higher today. Silver too was up today marginally.
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.
