 "Domestic markets on Wednesday entered correction territory, with the benchmark Nifty and the broader market indices — Nifty Midcap 100 and Nifty Smallcap 100 — declining more than 10 per cent from their all-time highs.")
Stock Market Today, Friday, January 3: Stock markets today may look to protect the gains, logged on Thursday, as benchmark indices – BSE Sensex and NSE Nifty50 – have broken above key resistance levels on technical charts. That said, GIFT Nifty futures were trading 99 points lower at 24,184 level at 7:10 AM amid rising US dollar index.
Stock Markets on Thursday, Jan 2:
The Indian stock markets fired from all cylinders on Thursday, amid a massive short-covering rally, coupled with swift moves in the automobile, information technology (IT), and financial shares.
The Sensex soared 1,436.30 points or 1.83 per cent to settle at 79,943.71. The index, briefly, topped the 80,000-mark intraday and hit a high of 80,032.87.
The Nifty50, on the other hand, ended at 24,188.65, up 445.75 points or 1.88 per cent. It hit an intraday high of 24,226.70 on Thursday.
FIIs/FPIs net bought equities worth Rs 1,506.75 crore on January 2, while DIIs bought equities worth Rs 22.14 crore.
Also Read
 "stock market")
 "Wall Street")
 "ipo market listing share market")
 "Wall Street")
 "Benchmark indices dropped as much as 2 per cent before recouping half the losses, as uncertainty around the tightly contested US Presidential election, sustained selling by foreign portfolio investors (FPIs), and earnings disappointments weighed on t")
How to trade Sensex today? Key levels to watch on Nifty today? Trading strategy for today, Jan 3:
Shrikant Chouhan, Head Equity Research, Kotak Securities:
The market successfully cleared the 200-day SMA (Simple Moving Average) resistance mark, and after this breakout, positive momentum intensified.
On the daily charts, it has formed a long bullish candle, which supports further uptrend from the current levels. We believe the current market sentiment has shifted from bearish to bullish, and the levels of 24,000 on the Nifty and 79,400 on the Sensex, followed by 24,100/79,700 would act as strong support zones for short-term traders.
On the upside, the range of 24,300/80,300 to 24,375/80,500 could serve as crucial resistance areas for short-term traders.
The current market texture is bullish and for the day traders buying on intraday corrections and selling on rallies would be the ideal strategy. However, if the index falls below 24,000/79,400, the uptrend would become vulnerable.
Nagaraj Shetti, Senior Technical Research Analyst, HDFC Securities:
A long bull candle was formed on the daily Nifty chart that has surpassed the cluster hurdles like 10/20-day EMAs and the opening downside gap of December 19, which has been filled at 24,150. This is a positive indication and signals an important turnaround for the market on the upside. The recent swing low of 23,460 of December 31 could now be considered as a larger degree higher bottom formation.
The short-term trend for the Nifty remains strong on the upside and one may expect Nifty to move towards the next hurdle of 24,400 levels. Any dips from here could find support around 23,900.
Chandan Taparia, Head, Equity Derivatives & Technicals, Wealth Management, MOFSL:
The FIIs long-short ratio has dropped to 13 per cent, which is at its lower band, and this triggered short covering in the index on Thursday. Based on the current price structure, as long as the Nifty trades above the 24,000 zone, the index can witness up move towards 24,400-24,600 zone.
On the option front, Maximum Call OI is at 25,000, then at 24,500 -trike, while Maximum Put OI is at 24,000, then at 23,800-strike. Call writing is seen at 24,200, then at 24,800-strike, while Put writing is seen at 24,000, then at 24,200-strike. Option data suggests a broader trading range in between 23,500 to 24,500 zones while an immediate range between 23,900 to 24,300 levels.
Jatin Gedia, Technical Research Analyst, Mirae Asset Sharekhan:
On the daily Nifty charts, we can observe that the Nifty has held on to the 200-day moving average (23,699) and decisively closed above that on Thursday.
The current rally is likely to continue towards 24,615 – 24,770 which coincides with the 20-week moving average and the 50 per cent Fibonacci retracement level of the fall from 26,277 – 23,263. On the downside, 23,800 shall act as a crucial support zone and a stoploss for the long positions.
Stock Market Prediction Today, Jan 3:
India stock markets today, at open, may assess the mixed global market mood.
South Korea’s Kospi index was up 1.76 per cent, and the small-cap Kosdaq rose 1.70 per cent. Australia’s S&P/ASX 200 also added 0.39 per cent at open.
Hong Kong’s Hang Seng index was up 0.16 per cent. Japan markets remain closed for a holiday.
Overnight, the Dow Jones Industrial Average lost 0.36 per cent in the US, while the S&P 500 dropped 0.22 per cent, and tech-heavy Nasdaq Composite shed 0.16 per cent.
Tesla shares fell by as much as 7 per cent in trading on Thursday after it reported the first annual drop in delivery.
Stock Market Today News:
Domestically, the Bank loan and deposit growth data are scheduled to be released today. Besides, Sensex’s weekly F&O expiry is scheduled today.
On the global front, the Financial Times has reported that the People’s Bank of China is mulling cutting interest rates “at an appropriate time” this year.
Separately, China’s commerce ministry plans to impose export restrictions on certain technology used to make battery components.
In the US, the latest weekly jobless claims hit an eight-month low, reflecting the relatively muted levels of job cuts in a labor market. New claims fell by 9,000 to 211,000 in the week ended December, 28.
Meanwhile, the US dollar index hit its highest level for more than two years on Thursday, rising above 109 levels.
IPO Allotment Today:
The allotment for Indo Farm Equipment IPO will be finalised today. The Indo Farm IPO received thundering investor response with the issue getting subscribed by 227.67 times, led by retail investors (101.79x), NIIs (501.75x), and QIBs (242.2x).
In the SME category, Leo Dry Fruits and Spices IPO will close today. That apart, Davin Sons Retail IPO and Parmeshwar Metal IPO will enter their second day of bidding today. Fabtech Technologies Cleanrooms IPO, meanwhile, will open for subscription today.
Notably, 15 companies launched their initial public offerings (IPOs) in December 2024, making it the best month for public offerings since 1996. Collectively, they raised Rs 25,425 crore, which also made December the best month in terms of the quantum of funds raised. READ MORE
Budget 2025: Market experts meet FM Sitharaman
During a pre-Budget consultation with stakeholders from the financial sector and capital markets on Thursday, representatives from stock markets asked for more streamlined business processes, advocating for policies that would enhance capital market efficiency and attract greater investment. READ MORE
 "Market, BSE, NSE, NIfty, Stock Market, investment, IPO")
 "Alcohol on flight")
 "Royal Enfield EV, Flying Flea")
 "bull market, stock market")
 "Zee MD & CEO Punit Goenka")
