FIIs’ selling nears Rs. 10,000 crore mark so far this week and also this month🛑⚠️
FII Cash: -1,944.2 Cr.
DII Cash: +3,661.1 Cr.
FII Idx Fut: -1,797.9 Cr.
FII Idx Opt: -5,609.3 Cr.
FII Stk Fut: +1,892.6 Cr.
FII Stk Opt: -370.5 Cr.
FII Week Till Date
FII Cash: -9,964.7 Cr.
DII Cash: +15,596.3 Cr.
FII/DII Month till Date
FII Cash: -9,964.7 Cr.
DII Cash: +15,596.3 Cr.
FY-26 Till Date
FII Cash: -1,42,433.7 Cr.
DII Cash: +5,29,020.4 Cr.
Gift Nifty at 19:00 (26178, -11)
Nifty mostly wavers in a choppy, directionless session as traders book profits and unwind longs ahead of tomorrow’s RBI policy outcome.
The positive takeaway however was that Nifty snapped its 4-day losing streak.
NIFTY (+48, 26034)
SENSEX (+159, 85265)
BANK NIFTY (-60, 59289)
1) A key RBI policy decision and US payrolls on December 5 — potentially a major volatility trigger.
2) Geopolitics enters the frame with Putin’s India visit (Dec 4–5),
3) The Federal Reserve meeting outcome on December 10.
Long story short: Nifty’s next leg higher hinges on one catalyst — rate cuts from both the RBI and the Fed. That could be the spark bulls need to reignite strong upside momentum.
NIFTY IT (+0.76%)
NIFTY PVT BANKS (+0.57%)
NIFTY MEDIA (+0.25%)
NIFTY MEDIA (-1.45%)
NIFTY CONSUMER DURABLES (-0.62%)
NIFTY OIL & GAS (-0.05%)
1) Nifty (+0.18%) was seen consolidating in an up-and-down session, and most importantly, the benchmark snapped its 4-day losing streak.
Nifty is still above its 21 DMA (25945), 50 DMA (25612) and its 100 DMA (25247). Nifty’s 200 DMA at 24631 mark.
2) Bank Nifty (-0.10%) inched lower after a volatile trade as the losing streak continued for 2nd straight day.
Bank Nifty’s all-time-high continue to be at 60,114.05 mark.
3) The market breadth (32:12) was in favour of the Bulls.
4) Nifty Mid-cap (+0.15%) and Nifty Small-cap (-0.34%) witnessed an uninspiring session and ended on a jittery note.
5) Meanwhile, New Records Highs as on Thursday, December 4th 2025 continue to be at:
26,325.80
Sensex: 86,159.02
Bank Nifty: 60,114.05
1) Nifty IT index (+1.33%) was the biggest outperformer and ended firmly in positive territory despite a struggling broader market.
The sector was showing resilience on the back of two key catalysts:
a) Stronger-than-expected Q2 performance: Multiple IT majors posted robust earnings with solid deal wins, margin improvement, and operational efficiency — keeping sentiment buoyant.
b) Rupee hits 90/$: The steep depreciation of the rupee is a direct earnings tailwind for export-heavy IT companies, as dollar revenues translate into higher rupee realizations.
This week, Nifty IT index is up 2.60% with top weekly movers like TCS (+2.9%), Infosys (+2.46%)), Tech Mahindra (+3.09%), HCL Tech (+1.95%), LTIMindtree (+2.87%), Persistent Systems (+1.76) and L&T Technology Services (+5.72%)
Meanwhile, TCS hit a 3-month high, gaining around 1.5% to ₹3,227 amid reports it may partner with OpenAI.
Media reports suggest TCS is in advanced talks to help build AI compute infrastructure in India and co-develop agentic AI tools for enterprises. OpenAI is reportedly exploring leasing 500 MW of data-centre capacity from TCS’s HyperVault arm to run and train models locally.
If confirmed, this would mark the second major India–global AI collaboration after the Google–Reliance tie-up earlier this year.
(Source: liveMint, Moneycontrol, business Standard)
2) Petronet LNG (+4.54%) jumped after the company signed a long-term agreement with ONGC to develop and operate ethane import and handling infrastructure at its Dahej terminal — a move that strengthens its positioning in India’s evolving gas value chain.
3) Mukka Proteins (+1.11%) surged as its joint venture with Hardik Gowda and MS Jathin Infra secured a ₹474.89 crore contract from Bengaluru Solid Waste Management Ltd (BSWML), reinforcing the company’s growing order visibility.
4) Defence stocks were in the spotlight as Russian President Vladimir Putin begins his first India visit in four years.
Counters like HAL (+1.89%), BDL (+3.7%), and BEL (+1.25%) drew strong investor interest amid expectations that the visit will accelerate key defence agreements covering air-defence systems, fighter aircraft, and missile technologies.
Broader defence names also logged gains: Unimech Aerospace (+2.53%), Mishra Dhatu Nigam – MIDHANI (+1.52%), Data Patterns (+0.71%), Paras Defence (+0.79%), and Bharat Dynamics – BDL (+3.7%).
Putin is expected to arrive in New Delhi around 4:30 PM today (Thursday, 4 December), as per PTI.
The strategic dialogue is expected to centre around advanced defence cooperation, with particular focus on the S-500 Prometheus missile system, a next-generation upgrade over the S-400 platform currently being inducted.
During discussions with Russian Defence Minister Andrey Belousov, the Indian delegation is expected to emphasize timely delivery of pending military hardware, while also exploring options for future procurement, including the S-500, as widely reported in the media.
Bottom line: Heightened geopolitical engagement and potential big-ticket defence deals could keep sentiment buoyant across defence manufacturing and allied sectors.
(Source: liveMint, Moneycontrol, business Standard)
TECHM (+1.51%)
HDFCLIFE (+1.49%)
TCS (+1.48%)
SBILIFE (+1.41%)
BEL (+1.25%)
INDIGO (-2.39%)
RELIANCE (-0.88%)
HINDALCO (-0.65%)
MARUTI (-0.64%)
TITAN (-0.62%)
ASIANPAINTS (CMP 2955) 52-week high at ₹ 2985.70
HEROMOTOCORP (CMP 6340) 52-week high at ₹ 6351
JKTYRE (CMP 473.30) 52-week high at ₹ 476.90
52 week lows
BAJAJ ELECTRICALS (CMP 481.20) 52 week low at 478.35.
BATAINDIA (CMP 960) 52 week low at 956.90
COLPAL (CMP 2136.50) 52 week low at 2096.20
CROMPTON (CMP 258.25) 52 week low at 255.10
DEEPAKNTR (CMP 1530) 52 week low at 1514
OUR VIEW FOR FRIDAY’S TRADE
All eyes on this week’s RBI MPC Outcome on Friday, December 5th. Both Fed and RBI are expected to deliver 25 bps rate cut this month.
ALL ABOUT NIFTY:
Nifty (CMP: 26034)
Support: 25900/25700
Resistance: 26200/26350
Range: 25966-26175
21 DMA: 25946
50 DMA: 25612
200 DMA: 24631
Trend: Neutral
,,
BULLISH LOOKING STOCKS:
BULLISH LOOKING STOCKS (LONG TERM):
BEARISH LOOKING STOCKS:
STOCKS TO AVOID:
Disclaimer/ Disclosure: The investments & trading ideas recommended in the market analysis, research reports, etc. may not be suitable for all investors. This article or data points does not construe investment advice as stock market investments are subject to market risks so please refer to your financial consultant advice before Investing or trading. All information is a point of view, and is for educational, Learning and informational use only. The author or the group admin accepts no liability for any interpretation of articles or comments on this platform being used for actual investments. Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. Investors must make their own investment decisions based on their specific investment objectives, goals and financial position only after consulting with registered market intermediaries.
1) FORMULA ONE (F1)
FORMULA ONE (F1) PROFIT: (+3750)
2) SWING TRADE (BINOCULAR):
SWING TRADE PROFIT/LOSS: (LOSS -6%)
3) PURE INVESTMENT CALL (TELESCOPE INVESTING):
PURE INVESTMENT CALL (BINOCULAR) PROFIT: NIL
1) Formula One: (+2100)
2) SWING TRADE (BINOCULAR): (LOSS -2%)
3) PURE INVESTMENT (TELESCOPE INVESTING): (NIL)
Disclaimer/ Disclosure: The investments & trading ideas recommended in the market analysis, research reports, etc. may not be suitable for all investors. This article or data points does not construe investment advice as stock market investments are subject to market risks so please refer to your financial consultant advice before Investing or trading. All information is a point of view, and is for educational, Learning and informational use only. The author or the group admin accepts no liability for any interpretation of articles or comments on this platform being used for actual investments. Registration granted by SEBI and certification from NISM in no way guarantees performance of the intermediary or provides any assurance of returns to investors. Investors must make their own investment decisions based on their specific investment objectives, goals and financial position only after consulting with registered market intermediaries.
Nifty wavers in early trade with positive bias, suggesting that bullish consolidation may remain the dominant theme in what’s likely to be a choppy, range-bound session.
Nifty (+32, 26018)
Sensex (+111, 85217)
Bank Nifty (-21, 59323)
SUPPORT: 25871/25703
RESISTANCE: 26157/26327
RANGE: 25900-26100
BIAS: Neutral
NIFTY IT (+0.86%)
NIFTY METAL (+0.43%)
NIFTY AUTO(+0.37)
NIFTY MEDIA (-0.47%)
NIFTY CON DURABLES (-0.36%)
NIFTY HEALTH INDEX (-0.25%)
1) Commanding attention are reports that Russian President Vladimir Putin is expected to arrive in New Delhi at around 4:30 PM on Thursday, 4 December, according to news agency PTI.
Defence stocks are likely to remain in the spotlight as Russian President Vladimir Putin begins his first visit to India in four years.
The strategic dialogue is expected to centre around advanced defence cooperation, with particular focus on the S-500 Prometheus missile system, a next-generation upgrade over the S-400 platform currently being inducted.
During discussions with Russian Defence Minister Andrey Belousov, the Indian delegation is expected to emphasize timely delivery of pending military hardware, while also exploring options for future procurement, including the S-500, as widely reported in the media.
Bottom line: Heightened geopolitical engagement and potential big-ticket defence deals could keep sentiment buoyant across defence manufacturing and allied sectors.
(Source: liveMint)
2) Interglobal Aviation (-2.21%, 5472) tumbles after IndiGo cancelled over 100 flights on December 3, 2025, across major airports — Delhi, Mumbai, Hyderabad, Bengaluru — with scores of additional delays.
The root cause: a combination of factors — primarily a crew shortage triggered by new regulatory norms on flight-duty time (FDTL), which came into effect recently.
(Source: thefederal.com)
3) Key Positive Catalysts for IEX
a) Strong Volume Momentum:
IEX clocked 11,409 MU of electricity traded volume (ex-TRAS) in November 2025, marking a robust 17.7% YoY growth — reinforcing sustained demand recovery and improved market liquidity.
b) Rising Short-Term Power Demand:
Higher industrial activity, early winter load pickup, and continued supply constraints in certain regions are pushing more participants toward short-term power markets, directly benefiting IEX’s core trading volumes.
c) Improving Market Participation:
Increasing buyer participation from state distribution companies and large commercial/industrial consumers is strengthening price discovery and boosting day-ahead and real-time market volumes.
(Source: CNBCTV18)
4) Biocon Limited (-2.93%, ₹398) surrendered all of its recent gains after news broke that the company’s Board will meet on Saturday, December 6, 2025, to evaluate key strategic proposals that could significantly influence its growth trajectory and shareholder value.
The marquee agenda item is a potential capital infusion into Biocon Biologics, the company’s unlisted biosimilars arm. The proposal — likely via direct cash investment or preferential allotment — aims to strengthen Biocon’s stake while ensuring adequate capital for long-term expansion, regulatory filings, and global commercial rollout plans.
This development comes on the heels of a major breakthrough for Biocon Biologics, which has signed a settlement agreement with Amgen Inc. The deal clears the pathway for the commercialization of its Denosumab biosimilars — Vevzuo and Evfraxy — across Europe starting December 2, 2025, with additional global markets set to open up thereafter. Although financial and commercial terms remain undisclosed, the settlement is widely seen as a meaningful step in unlocking value from the biosimilars franchise.
However, despite strong fundamentals, today’s correction indicates that investors remain cautious ahead of the Board’s decision, with concerns centered around near-term dilution, funding structure, and the potential impact on Biocon’s balance sheet.
(Source: Moneycontrol)
1) A key RBI policy decision and US payrolls on December 5 — potentially a major volatility trigger.
2) Geopolitics enters the frame with Putin’s India visit (Dec 4–5),
Top Index Gainers:
TCS (+1.19%)
HCLTECH (+1.03%)
EICHERMOT (+0.88%)
HINDALCO (+0.70%)
JSWSTEEL (+0.65%)
Top Index Losers:
INDIGO (-1.07%)
HINDUNILVR (-0.94%)
TITAN (-0.72%)
HDFCLIFE (-0.63%)
POWERGRID (-0.63%)
Dow Futures: (+77, 47960)
Nasdaq 100 Futures (-10, 25597)
Nikkei (+655, 50520)
Hang Seng (+56, 25816)
Dollar Index (+0.11%, 99.01)
WTI OIL (+0.13%, 59.26)
Gold (-7, 4196)
Securities in Ban for Trade Date: Thursday, December 4th 2025
SAMMAANCAP
Disclaimer/ Disclosure: The investments & trading ideas recommended in the market analysis, research reports, etc. may not be suitable for all investors. This article or data points does not construe investment advice as stock market investments are subject to market risks so please refer to your financial consultant advice before Investing or trading. All information is a point of view, and is for educational, Learning and informational use only. The author or the group admin accepts no liability for any interpretation of articles or comments on this platform being used for actual investments. Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. Investors must make their own investment decisions based on their specific investment objectives, goals and financial position only after consulting with registered market intermediaries.
1) Persistent FII selling.
2) Rupee at fresh record low:
GIFT Nifty 🇮🇳: (-18, 26074)
Dow Futures: (+77, 47960)
Nasdaq 100 Futures (-10, 25597)
Nikkei (+655, 50520)
Hang Seng (+56, 25816)
Dollar Index (+0.11%, 99.01)
WTI OIL (+0.13%, 59.26)
Gold (-7, 4196)
Securities in Ban for Trade Date: Thursday, December 4th 2025
SAMMAANCAP
Defence stocks are likely to remain in the spotlight as Russian President Vladimir Putin begins his first visit to India in four years.
The strategic dialogue is expected to centre around advanced defence cooperation, with particular focus on the S-500 Prometheus missile system, a next-generation upgrade over the S-400 platform currently being inducted.
During discussions with Russian Defence Minister Andrey Belousov, the Indian delegation is expected to emphasize timely delivery of pending military hardware, while also exploring options for future procurement, including the S-500, as widely reported in the media.
Bottom line: Heightened geopolitical engagement and potential big-ticket defence deals could keep sentiment buoyant across defence manufacturing and allied sectors.
Disclaimer/ Disclosure: The investments & trading ideas recommended in the market analysis, research reports, etc. may not be suitable for all investors. This article or data points does not construe investment advice as stock market investments are subject to market risks so please refer to your financial consultant advice before Investing or trading. All information is a point of view, and is for educational, Learning and informational use only. The author or the group admin accepts no liability for any interpretation of articles or comments on this platform being used for actual investments. Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. Investors must make their own investment decisions based on their specific investment objectives, goals and financial position only after consulting with registered market intermediaries.
INDEX Derivatives
Previous FUTURE Closing to SPOT
NIFTY PCR
BANKNIFTY PCR
MAX CE OI
SHORT Buildup
MAX PE OI
SHORT Covering
25200-25700
STOCK Derivatives:
Long Buildup: # BIOCON # HINDALCO # TATAMOTORS
Long Unwinding: # CANBK # PNB # BANKBARODA # HUDCO # BSE
Short Buildup : # ANGELONE # INDIANB # POWERINDIA # BIOCON
Short Covering : # IDEA # HINDZINC # WIPRO, SAMMAANCAP
Stocks banned in F&O Segment: SAMMAANCAP
New in Ban: NIL
Out of Ban: NIL
December 03rd 2025 FII/DII:
FII : -3206.90 crores.
DII:+4730.41 crores
BSE Derivatives Data
SENSEX Futures on 03.12.25 @ +535
SENSEX Futures on 02.12.25 @ +721
SENSEX PCR
1.07
BANKEX PCR
0.82
MAX CE OI
MAX PE OI
Happy Trading Day ahead
Disclaimer: The investments & trading ideas recommended in the market analysis, research reports, etc. may not be suitable for all investors. This article or data points does not construe investment advice as stock market investments are subject to market risks so please refer to your financial consultant advice before Investing or trading. All information is a point of view, and is for educational, Learning and informational use only. The author or the group admin accepts no liability for any interpretation of articles or comments on this platform being used for actual investments. Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. Investors must make their own investment decisions based on their specific investment objectives, goals and financial position only after consulting with registered market intermediaries.
TOP SECTORS:
Bullish Sector: PHARMA
Bearish Sector: REALTY, MEDIA, CONSUMER DURABLES, FMCG
STOCKS TO WATCH:
Happy Trading Day ahead
Disclaimer: The investments & trading ideas recommended in the market analysis, research reports, etc. may not be suitable for all investors. This article or data points does not construe investment advice as stock market investments are subject to market risks so please refer to your financial consultant advice before Investing or trading. All information is a point of view, and is for educational, Learning and informational use only. The author or the group admin accepts no liability for any interpretation of articles or comments on this platform being used for actual investments. Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. Investors must make their own investment decisions based on their specific investment objectives, goals and financial position only after consulting with registered market intermediaries.
🇯🇵 Japan : 30-Year JGB Auction
🇬🇧 Great Britain : Car Registration (YoY) (Nov), United Kingdom New Passenger Cars Registration (Nov), S&P Global Construction PMI (Nov)
🇪🇺 Euro : Retail Sales (MoM) (Oct), Retail Sales (YoY) (Oct)
🇺🇸 USA : Challenger Job Cuts (YoY), Challenger Job Cuts (Nov), Continuing Jobless Claims, Initial Jobless Claims, Jobless Claims 4-Week Avg., Continuing Jobless Claims, Initial Jobless Claims, Jobless Claims 4-Week Avg., Atlanta Fed GDPNow (Q4), Natural Gas Storage, 4-Week Bill Auction, 8-Week Bill Auction
GIFT Nifty 🇮🇳: (-42, 26094)
In yesterday’s trade, Nifty ended below the psychological 26000 mark and most importantly, the drubbing continued for the 4th straight day.
The market breadth (12:38) was clearly in favour of the Bears.
The positive takeaway however was that Bank Nifty rebounded from lower levels as the expectations remain elevated for a strong year-end finish.
Will Nifty’s bullish traders have to brace for another drop?
Will the FPI come back strongly?
Technically, Nifty’s near-term trend stays vulnerable as long as it trades below its all-time high of 26,326, with sellers defending every bounce.
However, there’s a strong chance that bulls will regroup near the major support at 25,703 and attempt to flip momentum decisively, reopening the path toward fresh record highs.
Bulls Kneel and Pray as Bears Dominate — but Nifty’s 25,703 Support Still Holds the Key.
1) Manufacturing PMI Slumps:
India’s PMI dropped to a nine-month low at 56.6, indicating cooling domestic momentum and softer export demand — further dampening sentiment.
2) Rupee Weakness Deepens:
The INR hit a fresh lifetime low of ₹90.30 per USD, pressured by persistent dollar demand from corporates, importers, and foreign portfolio investors.
3) Relentless FII Selling:
Year-to-date FII outflows have swollen to ₹1,40,490 crore, reinforcing the bearish undertone.
1) A key RBI policy decision and US payrolls on December 5 — potentially a major volatility trigger.
2) Geopolitics enters the frame with Putin’s India visit (Dec 4–5),
3) Mid-month attention shifts to global central banks, with the Fed meeting on December 10.
1) Dual Rate-Cut Hopes from both the U.S. Fed and the RBI .
2) U.S.–India Trade Deal Optimism
For now, the bears appear to have the marginal advantage.
1) Biocon (+2.88%) gained after Biocon Biologics, a subsidiary of Biocon, has inked a settlement agreement with Amgen Inc., paving the way for the global rollout of its Denosumab biosimilars.
The deal enables the company to commercialize Vevzuo and Evfraxy across Europe starting December 2, 2025, while access to the rest of the world also opens up. Other terms of the settlement remain confidential.
2) Vodafone Idea (+4.34%, 10.57) jumps out of the roof after reports suggest Telecom Minister Jyotiraditya Scindia indicated that the Centre may finalise the company’s AGR relief recommendations soon.
3) Emmvee Photovoltaic (+1.98%) stayed in the spotlight, extending its momentum after hitting the upper circuit in yesterday’s trade.
The catalyst: The company posted a stellar Q2 FY26 consolidated net profit of ₹237.86 crore, a jump of nearly 7x (577%) YoY versus ₹35.12 crore last year. On a sequential basis, profit was up 27% QoQ from ₹187.67 crore in Q1 FY26.
4) The Nifty PSU Bank index was down nearly 3.05% to 8,255
The shares of PSU banks dropped after government clarified that it has no plans to raise foreign direct investment (FDI) limit in these lenders from 20 percent to 49 percent.
(SBI (-1.71%), Indian Bank (-5.52%), PNB (-431%), other PSU bank stocks after FinMin clarifies no proposal to hike FDI limit. This falls comes after the stocks recorded sharp gains following earlier reports.
(Source: Business Standard, Moneycontrol, Economictimes, Capitalmarket)
Nifty (25986): Sell between 26050-26100 zone. Stop 26521. Targets 25901/25703. Aggressive targets at 25300-25500 zone.
Bank Nifty (59348): Sell between 59500-59700 zone. Stop at 60701. Targets 58900/58300. Aggressive targets at 57157-57500 zone.
Buy BIOCON
Entry Price: 411
Target: 467
Stop Loss: 393
Holding Period: 0-180 days
Rationale: Momentum Play
Risk /Reward : Rs. 18/Rs. 56 ; (4.38/13.63)
Disclaimer/ Disclosure: The investments & trading ideas recomended in the market analysis, research reports, etc. may not be suitable for all investors. This article or data points does not construe investment advice as stock market investments are subject to market risks so please refer to your financial consultant advice before Investing or trading. All information is a point of view, and is for educational, Learning and informational use only. The author or the group admin accepts no liability for any interpretation of articles or comments on this platform being used for actual investments. Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. Investors must make their own investment decisions based on their specific investment objectives, goals and financial position only by after consulting with registered market intermediaries.
Global cues: Positive
FII: (-3206.92 crores)
DII: (+4730.41 crores)
Sentiment: Neutral
Market Breadth: Neutral
Technicals: Consolidation zone
F&O: 25500 – 26500 zone.
INDIA VIX 11.21 (-0.13%)
USD/INR Futures (December) (90.34)
NIFTY PCR (30th December) 1.11
Bank Nifty PCR (30th December) 0.97
But the durability of this rally now hinges on two key swing factors — a weakening INR and the increasingly cautious stance of FIIs.
For now, the bears appear to have the marginal advantage.
NIFTY (CMP 25986):
SUPPORT: 25703/25317
RESISTANCE: 26157/26327
RANGE: 25800-26100
BIAS: Negative
21 DMA: 25925
50 DMA: 25596
200 DMA: 24617
SENSEX (CMP 85107)
SUPPORT: 84000/82671
RESISTANCE: 85650/86160
RANGE: 84400-85400
BIAS: Neutral
21 DMA: 84714
50 DMA: 83564
200 DMA: 80739
BANK NIFTY (CMP 59348)
SUPPORT: 58900/57157
RESISTANCE: 60100/60900
RANGE: 58700-59700
BIAS: Neutral
21 DMA: 58799
50 DMA: 57535
200 DMA: 54876
The index, closed well below the flat line, and most imporatnly, below the psychological 26000 mark — indicating bears aiming to take over the control.
Nifty is still above its 21 DMA (25925), 50 DMA (25596) and its 100 DMA (25240). Nifty’s 200 DMA at 24617 mark.
Nifty’s hurdles seen 26327 mark.
The technical landscape suggests Nifty’s major support at 25871/25703 mark.
Nifty’s chart of the day suggests the structure tilts towards bears amidst overbought technical conditions. The make-or-break support at 25703.
Bank Nifty’s all-time-high continue to be at 60,114.05 mark.
So, the positive takeaway from yesterday’s trade was that Bank Nifty rebounded from lower levels as the expectations remain elevated for a strong year-end finish for Nifty.
Nifty Private Bank Index (+0.59%) witnessed massive rebound from lower levels as HDFC Bank (+1.08%) and ICICI Bank (+1.38%) led from the front amidst value buying.
Bank Nifty was seen outperforming Nifty’s bearish action, ending 0.13% higher as against Nifty’s 0.46% loss.
Interestingly, Nifty PSU Banks index was down nearly 3.05% to 8,255
The shares of PSU banks dropped after government clarified that it has no plans to raise foreign direct investment (FDI) limit in these lenders from 20 percent to 49 percent.
SBI (-1.71%), Indian Bank (-5.52%), PNB (-431%), other PSU bank stocks after FinMin clarifies no proposal to hike FDI limit. This falls comes after the stocks recorded sharp gains following earlier reports.
Intraday support for Bank Nifty now seen at 58900/58300/57157 mark on closing basis.
In today’s trade and in near term, Bank Nifty is likely to face resistance at 60100 mark. Bank Nifty’s 200-DMA is placed at 54876 mark. Bias on Bank Nifty continues to be neutral.
Disclaimer/ Disclosure: The investments & trading ideas recommended in the market analysis, research reports, etc. may not be suitable for all investors. This article or data points does not construe investment advice as stock market investments are subject to market risks so please refer to your financial consultant advice before Investing or trading. All information is a point of view, and is for educational, Learning and informational use only. The author or the group admin accepts no liability for any interpretation of articles or comments on this platform being used for actual investments. Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. Investors must make their own investment decisions based on their specific investment objectives, goals and financial position only after consulting with registered market intermediaries.
