Nifty continues to attracts bears.

*Closing Bell —— Friday, January 24th 2025*

*Aaj Market Main Kya Hua —— Friday, January 24th 2025*

*Review & Preview @4PM —— Friday, January 24th 2025*

NIFTY (-113, 23092)
Sensex (-330, 76190)
Bank Nifty (-221, 48368)

# Nifty continues to attracts bears.

# Sentiments continue to remain extremely fragile considering the headwinds and pessimism that are lurking all over Dalal Street.

# The long and short of today’s trading theme suggests that the unwinding of long positions at Dalal Street is not showing any signs of fatigue.

 

# Blame the pessimism on:

1) Uncertainty lingers over President Donald Trump’s plans for tariffs.

2) Record exodus from the Foreign Institutional Investors. (This January so far, they have sold to the tune of Rs. 66,321.70 crores).

# The negative takeaway is that Nifty ended lower and for the 3rd straight week indicating bulls are losing control.

# Technically speaking, more tremors could be witnessed at Dalal Street if Nifty slips below its biggest inter-month psychological support at 23000 mark.

# Technically, confirmation of strength only above Nifty’s biggest hurdles at 23985 mark which is also the benchmark’s 200 DMA.

# Bottom-line: The nasty script ideally leaves investors to worry a lot as investors fear the brutal sell-off on Dalal Street is likely to get worse.

# Long story short: The bears are everywhere at Dalal Street.

 

# Meanwhile, Nifty Media and Reality indices witnessed massive drubbing, down around 2.50%.

# Nifty’s today’s drubbing was despite the US Dollar/INR falling towards 86.19 levels.

# The India VIX, India’s volatility index, inched 0.27% higher towards 16.74.

# In the near term, the 3-big catalysts are:

1) The Federal Open Market Committee’s next policy meeting on January 28-29.

2) The Union Budget 2025-26, scheduled for February 1st

3) Delhi Assembly election voting on Feb 5th, results on Feb 8th

Long story short: Nifty witnesses a positive session as New Tariffs did not come on Trump’s Day two.

# Technical Overview:

# Technically speaking, Nifty continues to trade way below its 200 DMA and also below its 200 EMA.

# The bearish daily technical setup shall exacerbate more pain only on any close below the psychological 23000.

Below Nifty 23000, the next inter-month supports are placed at 21281 mark (June 4th Election day low).

# Confirmation of strength only on any close above Nifty 23900.

# Outperforming Nifty Sectors:
Nifty FMCG (+0.64%)
NIFY IT (+0.42%)

# Underperforming Nifty Sectors:
Nifty MEDIA (-2.65%)
Nifty REALITY (-2.5%)
Nifty OIL & GAS (-2.09%)

# Adv-Dec 19—31
# INDIA VIX 16.74 (+0.24%)
# NIFTY PCR (30th JAN) 0.75

# Bulls of the day:
HUL (+2.52%)
BRITANNIA (+1.74%)
EICHERMOT (+1.45%)
GRASIM (+1.38%)
ICICIBANK (+0.99%)

# Bears of the day:
DRREDDY (-4.90%)
TRENT (-4.09%)
M&M (-3.03%)
ADANIENT (-2.97%)
BPCL (-2.95%)
(Source NSSEINDIA.com)

 

 

 

 

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