MARKET TRENDS:
Global cues: Positive
FII: (-3795.70 crores)
DII: (+4148.50 crores)
Sentiment: Bullish
Market Breadth: Positive
Technicals: Breakout Play.
F&O: 25500 – 26700 zone.
INDIA VIX 11.62 (-1.42%)
USD/INR Futures (December) (89.59)
NIFTY PCR (30th December) 1.21
Bank Nifty PCR (30th December) 1.19
Nifty Outlook: New records highs for benchmark Nifty shall be the new normal on reports that India’s Q2 FY26 GDP surged 8.2%, powered by strong consumption and sectoral momentum.
WHAT TECHNICALS TELLS US ON NIFTY & BANK NIFTY:
NIFTY (CMP 26203):
SUPPORT: 26113/25900
RESISTANCE: 26351/26750
RANGE: 26100-26400
BIAS: Positive
21 DMA: 25886
50 DMA: 25554
200 DMA: 24578
SENSEX (CMP 85707)
SUPPORT: 85400/84500
RESISTANCE: 86100/86900
RANGE: 85400-86400
BIAS: Positive
21 DMA: 84544
50 DMA: 83413
200 DMA: 80626
BANK NIFTY (CMP 59753)
SUPPORT: 59300/58650
RESISTANCE: 60100/60900
RANGE: 59300-60300
BIAS: Positive
21 DMA: 58590
50 DMA: 57303
200 DMA: 54737
Nifty: # Nifty: Nifty opened strong footing in Friday’s trade, powered by momentum buying, before mild profit-taking capped the rally mid-session.
The index, closed slightly a tad below the flat line — still a bullish constructive sign.
Key Positive: Nifty flirted with its fresh record high at 26,310.45, holding firmly above the 26,000 milestone — keeping the bullish undertone alive.
The Good News is that Nifty is well above its 21 DMA (25886), 50 DMA (25554) and its 100 DMA (25223). Nifty’s 200 DMA at 24578 mark.
Nifty’s hurdles seen 26311 mark.
The technical landscape suggests Nifty’s major support at 26113/25900 mark.
Nifty’s chart of the day suggests the structure remains bullish, with Nifty likely to trade with a positive bias. As long as the index holds above the 26,000–26,113 support corridor, dips may continue to attract buyers.
Bank Nifty: Bank Nifty (+0.03%) too marched higher from strength to strength as momentum buying was the preferred theme all thru the trading session. Bank Nifty ended in green with new all-time-high at 59897.50 mark.
Bank Nifty was seen outperforming Nifty’s consolidative action, ending 0.03% higher as against Nifty’s 0.05% loss.
Interestingly, Nifty PSU Banks ended 0.14% higher while Nifty Private Bank Index ended with 0.01% lower.
Intraday support for Bank Nifty now seen at 59300/58650/57158 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 54737 mark. Bias on Bank Nifty continues to be Positive.
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