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Global Outlook:

* Market is expected to open on a  flattish note, influenced by the end of a holiday-shortened week and mixed trends in the Asian markets, which may keep the market within a tight range.

*  U.S. indices experienced a sharp decline of over 1%, driven by profit booking in IT stocks and rising U.S. 10-Year Treasury yields, which have reached their highest level since late May 2024 at 4.64%.

* Gift Nifty is trading flat, but the U.S. market will be closed on Wednesday due to the New Year holiday.

* This week, the market will focus on global PMI data and domestic December auto sales data, both of which are scheduled for release.

* The rally is expected to continue in pharma, real estate, auto, and energy stocks.

Fundamental Pick: (Duration 1 Year)

IPCA Laboratories :  Buy

(CMP : 1633, TP: 1980)

Technical View:

* NIFTY (Bullish- CMP : 23813) Nifty immediate support is at 23650 then 23500 zones while resistance at 23950 then 24100 zones. Now it has to hold above 23800 zones for a bounce towards 23950 then 24100 zones whereas supports are seen at 23650 then 23500 zones.

* BANK NIFTY (Neutral- CMP : 51311) Bank Nifty support is at 51000 then 50750 zones while resistance at 51500 then 51750 zones. Now it has to hold above 51250 zones for a bounce towards 51500 then 51750 levels while a hold below the same could see some weakness towards 51000 then 50750 zones.

Technical Idea:

Ipca Labs : Buy

(CMP 1632     SL 1568    TP 1724)

Derivative View:

* On option front, Maximum Call OI is at 25000 then 24500 strike while Maximum Put OI is at 23500 then 23800 strike.

* Call writing is seen at 24200 then 24100 strike while Put writing is seen at 23500 then 23800 strike.

* Option data suggests a broader trading range in between 23300 to 24300 zones while an immediate range between 23600 to 24000 levels.

Quant Picks:

Quant Intraday Sell Idea:

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