Photo Courtesy: livemint.com/market
Markets Today- 07 Jan 25
One of newspaper headline read “Market Caught Cold”.
Yes that’s exactly happened.
As first two cases which was detected in bangalore and one of them discharged too…. Markets caught the virus too… And crashed massively. Today the cases have risen to 7.
A virus which is not new to India as per govt has taken toll of Market yesterday.
To make things worst both DII and FII did huge selling in afternoon which caused further crash. And as usual on crash they had good buying too with DII as net buyers of + 5750 cr and FII were net sellers with -2575 cr after a buy of 9800 cr.
And if this selling was not enough, many HNI sellout too took place yesterday
Banking Index too took bad hits with some disappointing Quarterly results which have started coming out… Took the toll further.
For today…
Gift Nifty indicates a positive start to the day. But can this positivity sustain for day is doubtful. Nifty is weak after yesterdays fall and breakdown of resistance levels.
A very critical lower support lies at 23450 and 23260. Must look wait and watch these lower levels.
Today’s level
Bullish above 23700
Bearish below 23550.
No much of support also is seen from International market as US markets ended flat and Asian markets are trading mixed.
Gujarat toolroom stock which caught FII attention suddenly in last few weeks have announced a 5:1 bonus… It means 5 bonus shares for every one share held. So if someone bought 1000 shares, he gets 5000 bonus shares. This news caught the headlines as company is sitting on lots of money to give I guess. Congratulations to those who bought on time.
First Q3 results start pouring in from today. Mobikwik will release its Q3 results today.
Some good momentum in IT stocks and Nasdaq and S&P 500 ETF is expected as US markets Nasdaq , S&P 500 indexes suggests.
Some stocks which may bring cheers today to investors
Ashoka buildcon
Info edge
Kalyan Jwellers
Some BUYS recommendations released by Big Fund houses
Restaurant Brands
CMP-85
Tgt 135 (61% up)
PN gadgil Jwellers
CMP- 666
Tgt 959(42% up)
Nykaa
CMP- 168
Tgt 240( 40% up)
Aditya Birla AmC
CMP- 837
Tgt- 1100(38% up)
Few other to name
1. NTPC(buy recommended by 24 analysts with 50% upside potential)
2. Ashok Leyland ( recommended by 39 analysts with upside potential of 44%)
3. SBI ( recommended by 39 analysts with upside potential of 40%)
There are some sell recommendations too by few fund houses… —
AU small fin bank
Max fin
LTI. Mind tree
So keep an eye on levels as u trade.. No one can predict market ahead in day.
Gold traded little low at 79600 levels and silver traded nearly flat.
So have a safe day in market. Look for stocks, ETFs of ur choice and buy if anything u planned .
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.
