HMPV virus infects Dalal Street…

*Review & Preview @4PM —— Monday, January 6th 2025*

NIFTY (-389, 23616)
Sensex (-1258, 77695)
Bank Nifty (-1067, 49922)

Scare of HMPV virus infects Dalal Street

# Nifty plunges as bears in total control on reports of 3-cases of HMPV Virus reported in India, two in Bengaluru and one in Ahmedabad.

# The above-average volatility was also amidst 8-negative catalysts:

1) FIIs net sold (Indian) equities worth Rs 4,227.25 crore on Friday, January 3, 2025.
2) The threat of elevated US Treasury yields at 4.61%.
3) The US Dollar spikes to a 2-year high at 109.25.
4) BOJ’s Ueda vows to keep hiking rates with focus on risks.
5) The Indian Rupee hits new record low at 85.85 against US Dollar
6) The uncertainty tied to the Federal Reserve’s rate path.
7) The street suspects President-elect Donald Trump’s policies to be inflationary.
8) Spike in WTI Oil prices towards $73.73 a barrel.

# Long story short: With intermonth perspective Nifty’s direction will depend on what Trump will do after he takes office as US President on January 20th

# Technical Overview:

The negative takeaway was that Nifty bears were in total control in today’s trade and most importantly, Nifty ended well below its 200-DMA at 23907 mark.

Technically speaking, confirmation of strength only above Nifty’s biggest hurdles at 24227 mark.

Until, Nifty 24227 mark is a hurdle, downside risk for Nifty seen at 23000 mark.

# OUTPERFORMING NIFTY SECTORS:
Nifty PSU BANKS (-3.94%)
Nifty PSE (-3.49%)
Nifty METALS (-3.18%)
Nifty Energy (-3.14%)
Nifty Reality (-3.11%)

# BULLS OF THE DAY:
APOLLOHOSP (+1.94%)
TATACONSUM (+1.12%)
TITAN (+0.72%)
HCLTECH (+0.10%)
ICICIBANK (+0.08%)

# BEARS OF THE DAY:
TATASTEEL (-4.60%)
TRENT (-4.35%)
BPCL (-3.68%)
NTPC (-3.63%)
ADANIENT (-3.61%)
(Source NSSEINDIA.com)

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