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Published on 19-12-2025 12:15 pm

GEPL DATA POINTS: NIFTY held its immediate support near the 25,900 level, forming a low at 25,905 before witnessing a rebound. As per the latest derivative data, there is a sharp rise in Open Interest at the 26,000 Call strike to around 3,08,000, reinforcing 26,000 as a strong resistance zone, followed by the next hurdle at 26,070. 
On the Put side, the highest OI remains concentrated at the 25,900 strike, which continues to act as immediate support, with 25,840 emerging as the next key support level below.

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Published on 19-12-2025 10:47 am

Sectors in Focus:

IT : Nifty IT Bank up by +1.21% with TCS (+1.97%), TECHM (+1.62%), and INFY (+1.57%) Among the contributors.

Consumer Durable : Nifty Consumer Durable index up by +0.37 with CROMPTON (+2.43%),BLUESTARCO (+1.32%), and VOLTAS (+1.27%) Among the contributors.

Metal : Nifty Metal index up by +0.25% with HINDCOPPER (+4.64%), HINDZINC (+2.20%), and HINDALCO (+0.73%) Among the gainers.

Media: Nifty Media index was down by -1.27% with TIPSMUSIC (-3.12%) , ZEEL (-2.25 ) and NAZARA (-2.13%) among the top losers.

Chemical : Nifty Chemical index was down by -0.36 % with NAVINFLUOR (-1.65%), DEEPKFERT (-1.65%) and AARTIND (- 1.29)contributing negatively to the index

Oil & Gas : Nifty Oil & Gas index was down by -0.33% with BPCL (-1.32%), GUJGASLTD (-1.19%) and BPCL (-1.32) among the top losers.

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Published on 19-12-2025 10:46 am

Market Commentary

Overnight global action was Positive: On 18 th Dec, U.S. markets up with S&P 500 +53.34 pts (+0.79%), Dow Jones up by +65.88 pts (+0.14%) and Nasdaq up by +371.76 pts (+1.51%). India VIX was down by ~0.1%. GIFT Nifty is trading flat at ~25,926 (+49.00 pts, +0.2%) indicating Indian markets will open positively.

On 18 th Dec, advance decline ratio on NSE was 3206: 1261 and BSE was 1564: 2601 which showed balanced in the overall markets.

Index Options Data Analysis:

Sensex max call OI is at 84,500 max put OI is at 84,400 with PCR of 0.8

Nifty max call OI is at 26,000 and max put OI is at 25,500 with PCR of 0.7

Bank Nifty max call OI and max put both is at 59,500 with PCR of 0.7

Securities in Ban for F&O Trade for 19

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Published on 19-12-2025 10:31 am

Nifty Bank : 58913

Technical Outlook

Day that was:

Bank Nifty extended correction for third consecutive day and closed at 58913, down 0.02%. The Nifty PSU Bank Index relatively outperformed gaining 0.1% closing at 8325 levels.

Technical Outlook:

* Bank Nifty opened on negative note, and oscillated by > 1100 points range. Consequently, the daily price action formed bull candle with long upper shadow indicating profit booking at elevated levels.

* Over past 3 weeks index has retraced 50% of preceding rally (57158-60114)indicating healthy consolidation. Absence of decisive close above previous session high has resulted into prolonged consolidation. Hence, for a meaningful pullback to materialize, index need to decisively close above previous session high, which would help index to pause current corrective phase and gradually resolve higher to challenge its all-time high 60100.

* Structurally we have seen 17 days rally (57158-60114)got retraced by 38.2% in just 14 sessions indicating slower pace of retracement.

* Momentum oscillators continue to reflect a bullish bias, while short and medium-term moving averages remain in a steady upward slope, validating the ongoing trend. Any temporary pullback should be treated as a buying opportunity in high-quality banking names, particularly those that delivered solid Q2 earnings, as immediate support is placed near 58,600, corresponding with the 50% retracement of the current advance (57,157–60,114).

* The PSU Bank Index has retraced 61.8% of previous rally( 7678- 8665) which is 7% decline from peak indicating inherent strength, The stochastic indicators is in upward trajectory indicating positive momentum. Nevertheless, pullbacks should be viewed as accumulation opportunities, with strong support around 8,100, being 50-day EMA

Intraday Rational:

* Trend- Previous 2 weeks decline index has retraced 38.2% its preceding 5 weeks 5% up move, indicating healthy consolidation.

* Levels- Buy on declines near 80% retracement of previous day upmove (58917-59370)

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Published on 19-12-2025 10:31 am

Nifty :25815

Technical Outlook

Day that was…

Indian equity benchmarks ended a volatile session on a flat note ahead of the US CPI data, with the Nifty settling at 25,815. Market breadth remained negative, with an advance–decline ratio of 1:2. Broader markets were largely range-bound, with both Midcap and Smallcap indices closing flat. Sectorally, IT stocks outperformed, while the rest of the sectors ended largely unchanged.

Technical Outlook:.

* The index opened on a weak note and remained highly volatile, oscillated by ~460-point intraday range. Consequently, the daily price action formed a minor bearish candle with wicks on both ends, highlighting a clear tug-of-war between bulls and bears amid event-led uncertainty.

* Despite the elevated volatility, the index continues to hold firmly above its 50-day EMA and the key swing-low support zone of 25,750–25,700, providing a cushion on the downside. As long as this support base remains intact and USDINR stabilizes, the possibility of a near-term pullback or consolidation cannot be ruled out, rather than a sharp corrective phase.

* A sustained breakout above 26,050 could act as a catalyst for the next leg of the up-move, potentially paving the way for a gradual retest of the all-time high near 26,300 in the coming weeks. In the interim, a buy-on-dips strategy remains prudent, with 25,700 emerging as a critical support level, offering a favourable riskreward for accumulating quality stocks.

Key Monitorable for the next week:

* Bank Nifty along with revival in IT and Oil & Gas would drive index higher as it carries >55% weightage in Nifty

* Since February 2016, USD/INR has been confined to a welldefined rising wedge and has historically exhibited a strong inverse correlation with the Nifty.

* Historically, there have been five instances where a retreat in USD/INR from the upper band of this wedge averaging a ~4% decline (with a maximum drawdown of ~7%) over a two-month period was followed by the Nifty delivering average gains of ~12% over the subsequent two months.

* With USD/INR currently hovering near the upper end of its longterm rising wedge, the setup closely mirrors these past inflection points, suggesting the potential for a similar cyclical rhythm to unfold

Intraday Rational:

* Trend- Supportive efforts in the vicinity of 50-day EMA, indicates positive bias intact.

* Levels: Buy on declines near 80% retracement of previous day upmove (25801-25980)

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