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Published on 05-12-2025 11:57 am

How to Read the Data:

1) The Highest Open Interest (OI) in CE (Calls) denotes that the stock has a strong Resistance at that level.

* E.g. – If ASIANPAINT has Highest OI at 2600 CE strike; it means 2600 level is a Stiff Resistance for the stock.

2) The Highest Open Interest (OI) in PE (Puts) denotes that the stock has a strong Support at that level.

* E.g. – If ASIANPAINT has Highest OI at 2400 PE strike; it means 2400 is a Strong Support for the stock.

3) The Highest Addition & Liquidation in CE OI denotes whether the stock can witness buying or see selling.

* E.g. – If ASIANPAINT saw Highest OI Addition at 2700 CE strike and Liquidation at 2600 CE strike; it means that the stock can witness a breakout of 2600 as writers are moving higher and stock can move towards 2700. Alternatively if the Highest OI Addition if at 2400 CE strike and Liquidation at 2600 CE strike; it means that the stock can witness selling and move towards 2400 levels as writers are writing lower strike CE’s.

4) The Highest Addition in PE OI denotes whether the stock can witness buying or see selling.

* E.g. – If ASIANPAINT saw Highest OI Addition at 2300 PE strike and Liquidation in 2400 PE Strikes; it means that the stock can witness a breakdown of 2400 and move towards 2300 as writers are writing lower strikes in fear of further selling in stock. Alternatively if the Highest OI Addition if at 2600 PE strike and Liquidation in 2400 PE Strike; it means that the stock can witness buying and move towards 2600 levels as writers feel confident of a rise in stock and hence are writing higher strike Puts.

5) This Data when used in entirety can help ascertain the Signals of reliable stock moves.

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Published on 05-12-2025 11:53 am

Nifty Bank : 59348

Technical Outlook

Day that was:

Bank Nifty snapped two days losing streak and settled the session at 59348, up 74 points. In contrast, the Nifty PSU Bank index showed relative underperformance and concluded the session with 3% decline.

Technical Outlook:

* The index opened on a flat and declined in the initial hours. However, supportive efforts from 20 days EMA helped index to recoup intraday losses and settle the session on a flat to positive note. Consequently, daily price action formed a bull candle with lower shadow, highlighting elevated buying demand

* Key point to highlight is that, past ten weeks price action has been captured in a well-defined rising channel. In last session, supportive efforts from lower band of rising channel helped index to maintained the sequence of higher high-low formation. Hence, follow through strength along with a decisive close above previous session high would confirm resumption of uptrend that would help index to challenge the All Time High and head towards 60500 in coming weeks. Hence, traders should adopt buy-on-dips approach in fundamentally strong banking names, particularly those that delivered robust Q2 earnings as immediate support is placed near 58,600, which also coincides with the 50% retracement of the recent upmove from (57157-60114)

* Historically, in the past two decades, there have been 17 instances where Bank Nifty delivered double-digit gains within four months after a decisive breakout above its previous two-month high. The current structure has once again confirmed such a breakout surpassing both the prior two-month high and the previous all-time peak (57,628), indicating a high-probability continuation setup for sustained upside momentum in the months ahead.

* The PSU Bank Index has been a underperformer, as after 13-week it has breached two weeks low indicating pause in upward momentum. The formation of lower-high and lower low indicate extended correction wherein key support is placed at psychological mark of 8000 being 50 days EMA that coincided with 16 months consolidation breakout at 8050 (as per change of polarity concept

* Intraday Rational:

* Trend- Higher-high and Higher-low pattern for three-consecutive week.

* Levels Buy on declines near Wednesday low

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Published on 05-12-2025 11:53 am

Nifty :25986

Technical Outlook

Day that was…

Indian equity benchmark close in the red again as rupee sinks to new low of 90. The Nifty closed at 26,032, down 0.45%, Market breadth remained negative with A/D ratio of 1:2. Midcap index shed 1% and Smallcap index declined 0.7%. Sectorally, most indices traded under pressure, with PSU banks, leading the decline, while resilience in IT and a recovery in private banks helped limit the downside.

Technical Outlook:

* The Index opened on a flat note and drifted gradually lower in early trade and then remained range-bound for most of the session. A late rebound in the last half hour helped trim losses, and the index eventually settled above its 20-day EMA (25968). As a result, daily price action formed a small bear candle with wicks on both ends, indicating near term consolidation phase.

* The index extended its corrective phase for the third consecutive session however it has witnessed rebound near the lower band of the rising channel, coinciding with previous swing-low support (25,800), offering a strong confluence of support. With the RBI's two-day MPC meeting underway and the policy announcement due Friday, are likely to guide market direction in the coming session. Going forward, a decisive close above the previous session's high of 26,066 would signal a pause in the current corrective move. Failure to surpass this level could keep the index in a consolidation range between (26300-25850) in the near term.

* In the process, volatility would prevail tracking global development. Hence, dips should be capitalized as incremental buying opportunity in quality stocks backed by Q2 earning`s as strong support is placed at 25600 being 61.8% retracement of Sept-Oct rally (24588-26104) coinciding with 50 days EMA.

Following observations makes us reiterate our positive stance:

* Following the strong up move in Bank Nifty and Midcap index, Nifty clocked a fresh all-time high, while Nifty 500 which carries 90% market cap is trading below just 2.5% from its peak. We expect, catch up activity to gradually pan out in the broader market space in coming weeks.

* December Seasonality: Historical data exhibit that seasonality favour bulls with ~70% success rate wherein average returns have been to the tune of 2.5%

* Sector in focus: We expect BFSI, auto to continue with its outperformance while favourable outcome of US-India trade deal could revive traction in IT, pharma, Textile

Key Monitorable for the next week:

* US and India Tarde Deal: Anticipation of nearing closure of the US and India trade deal continued to buoy sentiment. A favourable outcome could accelerate the positive momentum and attract renewed FII’s inflow.

* RBI Policy

* Brent Crude Oil: Brent Crude: Expect Brent crude to extend decline and head towards lower band of past seven months consolidation range 75-58

* Indian Rupee: Indian Rupee has depreciated and trading around 90.40. Further decline in rupee could temper market sentiment

Intraday Rational:

* Trend- Higher-high and Higher-low pattern for three-consecutive week.

* Levels: Buy on declines near Wednesday low

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Published on 05-12-2025 11:52 am

F&O Highlights

SHORT COVERING UP WAS SEEN IN NIFTY FUTURES

Create longs with the SL of 26000 levels.

*  Nifty snapped its four-session losing streak, gaining 47 points to close at 26,033. On the Sensex weekly derivative expiry day, bulls managed to hold a slight edge. NSE cash market turnover fell 5% compared to yesterday.

*  Short Covering was seen in the Nifty Futures where Open Interest fell by 0.36% with Nifty rising by 0.18%.

*  Short Build-Up was seen in the Bank Nifty Futures where Open Interest rose by 5.22% with Bank Nifty falling by 0.10%.

*  Nifty Open Interest Put Call ratio rose to 0.92 levels from 0.85 levels.

*  Amongst the Nifty options (09-Dec Expiry), Call writing is seen at 26200-26300 levels, indicating Nifty is likely to find strong resistance in the vicinity of 26200-26300 levels. On the lower side, an immediate support is placed in the vicinity of 26000-25900 levels where we have seen Put writing.

*  Short build-up was seen by FII's in the Index Futures segment where they net sold worth 1,798 cr with their Open Interest going up by 5511 contracts.

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Published on 05-12-2025 11:50 am

Nifty

Nifty continued to oscillate within a progressing Channel Pattern formation. Yesterday’s uptick from the pattern base also appears to be part of an ongoing inverse head & shoulders formation, with its neckline positioned near 26050. On the daily chart, the index managed to hold above its 20-DEMA for the second consecutive session, reaffirming this zone as the immediate demand area. A close below this level, however, may weaken the short-term bullish bias and expose the index to further downside toward the 50-DEMA at 25680, or potentially lower. The recent appearance of a Spike candlestick formation offers a ray of hope for the bulls, signalling a possible rebound toward the 26330 zone. With the index hovering near the lower end of its broader range of 26330–25940, traders are advised to remain cautious and consider adding long positions only after a decisive breach above 26110. The 26100 zone is expected to provide favourable opportunities to accumulate fresh longs. On the upside, a sustained move above 26330 is likely to trigger a strong bullish thrust, helping the index maintain a higher base near the 26000 mark. Options data for the December series indicates a firm put base in the 26000–25800 range, while resistance is gradually shifting toward 26500, reflecting improving underlying sentiment. Overall, Traders may continue to hold long positions as long as 25940 remains intact, with near-term upside targets placed at 26330 and 26500 for the week.

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