STOCK SPECIFIC DAY AGAIN 02.05.25

One day of holiday may not do much to the current situation. Market may open flattish and will have to find its way just like the last couple of sessions. Nothing yet on the Pak front- which is what the market worries about. This will influence the trades at higher levels on Friday. But overall, the price action is stuck and I dont see any breakouts happening. But so long as 24300 is not broken, we have to wait. The main level to break is till 24100. Bank Nifty is a tad weaker than the Nifty. Below 54700, look for more declines. For now, this index is a sell on rally.
With this much confusion about what is likely, trading intra day will be tricky. Stocks may follow cues from results.
Option premiums are moving higher and that is owing to the higher volatility owing to the war situation. So, people may prefer to do day trades in options than engage in any directional trades today. So, stock specific action only for now.
FII index shorts continue to decline and it seems like we should seen see the position flip to net longs. This is something to track and watch out for.

Among stocks, good results from Adani Port should see some action there. Stock is buy for trading as well as for investment. Surge in Auto sale may see some buying emerge in M&M. Eternal’s drop in profits may cap any intending advances shown last week.