Pre-Market Pulse

Fri, 23 Feb 2024

Global Indices As of Today at 7:26 am in the Morning

Name LTP Change Change %

GIFT Nifty 22,309.5 +42.5 +0.19%

Dow Jones 39,069.11 +456.87 +1.18%

Nasdaq 16,041.62 +460.75 +2.96%

S&P 500 5,087.03 +105.23 +2.11%

Hang Seng 16,757.00 +14.05 +0.08%

Nikkei 225 39,116.00 +816.00 +2.13%

KOSPI 2,684.44 +20.17 +0.76%

FTSE 100 7,684.49 +21.98 +0.29%

Indian Indices As of Most Recent Market Close

Sensex 73,158.24 +535.15 +0.74%

Nifty 50 22,217.45 +162.40 +0.74%

Nifty Bank 46,919.80 -99.90 -0.21%

India VIX 15.1975 -4.58% -0.7300

Pre-Market Pulse www.premarketpulse.com 01

Market Bulletin
Indian stock markets, the Sensex and Nifty, are expected to
open higher on Feb 23

The Nifty reached a new all-time high, with broad sector gains
wiping out previous session losses

Asian markets saw slight gains, with focus on China’s real

estate sector data

U.S. stock markets, including the S&P 500 and Dow Jones, hit
record highs, driven by a surge in technology stocks following
Nvidia's impressive earnings

The Reserve Bank of India (RBI) maintained a cautious stance

on inflation, emphasizing the need for restrictive monetary
policy amidst uncertainties in food prices and geopolitical
tensions

Angel One announced plans to raise up to Rs 2,000 crore to

expand its business and explore fintech opportunities

India's GDP growth for FY25 is projected at 6.5%, with positive

signs for private capital expenditure

The Indian government has allowed 100% Foreign Direct

Investment (FDI) for satellite component making companies

India's crude oil imports stood at 21.39 million metric tons in

Jan, highest in 21 months

Fair and remunerative price of sugarcane has been increased

by 8% for the 2024–25 season

Oil prices increased due to tensions in the Red Sea, although

gains were tempered by a large increase in U.S. crude
inventories.
Pre-Market Pulse www.premarketpulse.com 02
Technical Analysis
50 Nifty
The market shows strength with a healthy recovery from the
21-day EMA and higher highs formation for seven days
Immediate hurdle for Nifty50 is at 22,300, followed by the
22,500 mark, with immediate support at 22,000 and crucial
support at 21,875
Nifty50 gained 163 points to end at a record closing high of
22,218, forming a Bullish candlestick pattern, indicating buying
interest at lower levels
Nifty crossing its all-time high of 22,250 signals a bullish
reversal, with potential to move above 22,500 in the near term
If the price breaches 22,250, it could move towards 22,400
and 22,500, with immediate support identified at 21,900.

Bank Nifty
Bank Nifty corrected, falling 100 points to 46,920, but shows
buying interest at lower zones
It must hold above the 46,750 level for an up move towards
47,350 then 47,500 levels, with support expected at 46,750
then 46,500 level.

Pre-Market Pulse www.premarketpulse.com 03

 Nifty Call Options Data
Maximum Call open interest at the 23,000 strike indicates it as
a key resistance level for the Nifty in the short term

Significant Call writing at the 23,000 strike, adding 29.54 lakh

contracts, followed by the 22,800 and 22,700 strikes

Maximum Call unwinding was at the 23,600 strike, indicating a

decrease in bullish bets at higher strike prices.

Nifty Put Options Data

The 21,000 strike has the maximum open interest, acting as a
key support level for Nifty, followed by the 22,000 and 21,500
strikes

Significant Put writing at the 21,000 strike, indicating strong

support at this level, followed by the 21,900 and 22,000 strikes

Put unwinding at the 23,000 strike suggests decreasing

bearish bets at higher strike prices.

Technical Analysis Source:

https://www.moneycontrol.com/news/business/markets/trade-setup-for-
friday-15-things-to-know-before-opening-bell-20-12334441.html

Pre-Market Pulse www.premarketpulse.com 04

Key Stocks to Watch
Vodafone Idea: Board meeting on Feb 27 for fundraising proposal;
seeking new investors

RVNL: Joint venture with Salasar Techno Engineering, L1 bidder for

₹174 crore transmission project in Eastern Madhya Pradesh,
completion in 18 months

Ramkrishna Forgings: Board approval for Mexico manufacturing

facility; $3.5 million/year agreement, plus ₹90 crore investment for
PV/LV segment components facility, 11,000 MT/year capacity

Concord Biotech: Unit II in Gujarat passes Kenya Health Ministry

inspection with GMP certificate

Angel One: Board approves fundraise up to ₹2,000 crore via

various methods

Jupiter Lifeline Hospitals: Acquires 11,500 square meter land in

Pune for new hospital; ₹9.27 crore annual lease, ₹500 crore capex
approved

Dilip Buildcon: Subsidiary signs ₹270 crore concession agreement

with Goa for Zuari bridge viewing galleries, 60 months completion

Bharat Forge: Invests 15 million Euros in Bharat Forge Holdings

GmbH for investment in Bharat Forge Aluminiumtechnik GmbH

Oil India: MoU with Fertilisers & Chemicals Travancore for Green
Hydrogen collaboration

IRB Infra: Board approves raising up to $550 million via forex

bonds

IRCTC: Partnership with Swiggy for pre-ordered meal deliveries.

Pre-Market Pulse www.premarketpulse.com 05

Power Finance Corporation: To discuss fund raising on Feb 29

Bajaj Auto: Increases stake in Yulu Bikes to 18.8% with additional

₹45.75 crore investment

Sona BLW Precision: Receives auto PLI scheme certification for

"Hub Wheel Drive Motor" for electric two-wheelers

Morepen Laboratories: To consider ₹350 crore fundraising via QIP.

FII were net sellers with total sales amounting to

FII
Rs -1410 Cr on 22 Feb 2024

DII were net buyers with total sales amounting to

DII
Rs 1823.7 Cr on 22 Feb 2024

Pre-Market Pulse www.premarketpulse.com 05

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