We suspect, Dalal Street’s last bear unlikely to seize markets for long.

*Review & Preview @4PM —— Thursday, December 12th 2024*

NIFTY (-93, 24549)
Sensex (-236, 81290)
Bank Nifty (-175, 53216)

# Nifty bears control Dalal Street for the 5th day in a row.

# Dampening sentiments were Middle-east geopolitical risks, trade-war fears and the rising US bond yields.

# Interestingly, Nifty Bears had upper hand despite an inline US CPI inflation report which has sealed the deal for a December rate cut and sent the Nasdaq soaring above the 20,000 mark for the first time.

# Vishal Mega Mart IPO subscription status: Issue fully booked on day 2 of bidding.

# Adani Group stocks bounce back: Adani Green (+6.4%), Adani Power (3.6%), Adani Enterprises (+1.9%).

# Long Story short: We suspect, Dalal Street’s last bear unlikely to seize markets for long.

# Sentimental Overview:

# Our call of the day suggests to spy with one big eye on the FII activity.

# The Fed is widely expected to opt for another quarter-point cut, but that said, volatility may be the hallmark as the Fed may signal a short-term pause or dial back expectations for cuts in 2025.

# Traders now look forward to the US macro data – the Producer Price Index (PPI) for short-term impetus.

# The big focus, however, remains glued to the FOMC monetary policy decision on December 18.

# Meanwhile, India’s CPI will be wired this Thursday, December 12th and WPI on Friday, the 13th.

# Technical Overview:

Nifty mostly ended lower and for the 5th straight day indicating bulls are losing control.

Technically speaking, on the long-term charts, Nifty and Sensex are still at oversold conditions with immediate upside hurdles seen at psychological 25000 mark while Nifty’s support placed at 24250 mark.

Nifty’s 200 DMA at 23770 mark

# Outperforming Nifty Sectors:
Nifty IT (+0.75%)
Nifty METAL (+0.10%)

# Underperforming Nifty Sectors:
Nifty MEDIA (-2.38%)
Nifty FMCG (-1.06%)
Nifty PSE (-1.06%)

# Bulls of the day:
ADANIENT (+1.90%)
BHARTIARTL (+1.51%)
INDUSINDBANK (+1.34%)
TECHM (+1.21%)
ADANIPORTS (+0.84%)

# Bears of the day:
NTPC (-2.63%)
HUL (-2.31%)
COALINDIA (-2.17%)
HEROMOTOCORP (-2.05%)
BPCL (-1.85%)
(Source NSSEINDIA.com)

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