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Published on 23-12-2025 10:34 am

Nifty

The week began on a strong note as the index extended its rally throughout the session, registering yet another solid close. The gap-up opening and its subsequent sustenance display classic Breakaway Gap characteristics, reinforced by strong volume participation as the index decisively crossed the 0–2 trendline hurdle. The daily RSI had already hinted at a potential reversal, with a positive crossover above the 50 mark, further validating the gradual improvement in momentum. This recent price action, coupled with key indicators approaching the upper boundary of the prevailing range, raises the probability of a long-awaited directional momentum move. That said, a sustained follow-through above 26,330 would significantly strengthen the ongoing momentum. On the downside, the 26000 zone remains a crucial support for maintaining trend strength. A convincing breakout above 26050 has opened the pathway towards 26330, while a breakdown below 25940 would weaken the setup and could expose the index to corrective pressure. Given the current technical configuration, traders may consider adding aggressive fresh positions as long as the index holds above the key support of 26050, with review and profit-booking zones placed in the 26330–26550 range for the final week of the current series

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Published on 23-12-2025 10:34 am

Government Security Market:

* The Inter-bank call money rate traded in the range of 4.50%- 5.50% on Monday ended at 4.80%.

* The 10 year benchmark (6.48% GS 2035) closed at 6.6678% on Monday 6.6017% on Friday .

Global Debt Market:

U.S. Treasury yields ticked up on Monday as investors prepared for the holidayshortened week which includes a number of major note auctions. The 10-year Treasury yield the benchmark for U.S. government borrowing was up by 1 basis point, reaching 4.1647%. Yields on the 2-year Treasury note remained largely unchanged at 3.4898%. The 30-year bond yield, meanwhile, rose almost 2 basis point to 4.8435%. The Treasury will hold a number of key debt auctions this week, which will provide a partial snapshot of investor positioning and sentiment regarding U.S. debt, inflation and interest rate trends heading into 2026. The 2-year note auction, which is sized at $69 billion, will take place later on Monday, followed by a 5-year T-Note auction for $70 billion on Tuesday, and a $44 billion 7-year auction on Wednesday. The sales come after the Bureau of Labor Statistics’ consumer price index rose at a 2.7% annualized rate last month, suggesting inflationary pressures are continuing to ease, though expectations for a January interest rate cut remain low. Federal Reserve Bank of Cleveland President Beth Hammack said Sunday that interest rates should be maintained at their current level for months, adding that she believes inflation concerns outweigh labor market weakness. Separately, the Federal Reserve Bank of Chicago is due to publish its national activity index Monday. The Chicago Fed National Activity Index, which measures U.S. economic activity and related inflationary pressure, is expected to come in at -0.4, up from its previous reading of -0.12 in August. The CFNAI is a weighted average index comprised of 85 monthly economic activity indicators.

10 Year Benchmark Technical View :

The 10 year Benchmark (6.48% GS 2035) yield likely to move in the range of 6.6525% to 6.67% level on Tuesday

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Published on 23-12-2025 10:33 am

Stocks in News

* LLOYEDS ENTERPRISES: The board approved the merger of Lloyds Realty Developers and Indrajit Properties into Lloyds Enterprises, followed by the demerger of the real estate business into a newly formed entity, Lloyds Realty, with an estimated revenue potential of Rs.7,000 crore.

* SANGHVI MOVERS: Arm Sangreen Future Renewables received an order worth Rs.428.7 crore from independent power producers.

• PRESTIGE ESTATE: The company acquired a 25-acre land parcel in Chennai, with an estimated revenue potential of Rs.5,000 crore.

* GROWW: The company launched Groww Lite, a web-based emergency trading portal designed to ensure uninterrupted access during platform outages and technical glitches.

* ANTONY WASTE: Arm received a Rs.329 crore order from Thane Municipal Corporation to build a 600–800 TPD mixed solid waste processing plant.

* STANLEY LIFESTYLES: Hilker Far East entered into an agreement granting manufacturing and distribution rights for Hilker products, under which Arm Stanley Retail will manufacture, retail, and distribute the products in return for an agreed royalty.

* SIGACHI INDUSTRIES: The promoter sold a 2.3% stake in the company, reducing promoter holding to 33.56%.

* PAYTM: The board approved the incorporation of two subsidiaries in Indonesia and Luxembourg, and also cleared the issuance of 76,862 shares by arm Paytm Arab Payments to Abbar Global Opportunities Holdings.

Economic News

* India gives duty-free access to 54.11% of New Zealand exports from day one of FTA: India and New Zealand have finalized a free trade agreement. New Zealand exports will gain duty-free access to India. Key items like sheep meat and wool will become cheaper. Agricultural products such as apples and kiwifruit will see duty reductions with specific limits. This pact aims to boost trade and manufacturing in India. Implementation is expected in 7-8 months.

* India–New Zealand seal FTA: Zero-duty access for Indian exports, $20 billion investment pledge: Besides zero-duty access for India’s labourintensive sectors including textiles, apparel, leather, footwear, marine products, handicrafts, engineering goods and automobiles, New Zealand has pledged to invest $20 billion in the country over a period of 15 years. India has offered tariff liberalisation in 70% tariff lines covering 95% of bilateral trade.

Global News

* Japan taps household savings to shore up bond demand as yields rise and BOJ support fades: Japan is turning to its $7 trillion household savings pool to support government bond demand as central bank buying wanes, planning new retail-focused products and incentives. Higher yields have revived interest, with retail JGB sales jumping 30.5% in 2025 to the highest level since 2007, helped by 10-year yields crossing 2% and 30-year yields moving above 3%. With households holding less than 2% of outstanding JGBs and much savings parked in cash, policymakers and asset managers see scope to expand retail participation through redesigned products, long-duration bond funds, and tax incentives such as NISA eligibility. The finance ministry is also considering widening retail access to non-profits and unlisted firms, aiming to broaden the investor base and stabilise the bond market amid rising borrowing needs and reduced BOJ support.

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Published on 23-12-2025 10:32 am

GEPL DATA POINTS: The index is witnessing the highest Open Interest build-up on the Call side at the 26200 strike (around 4.51 lakh contracts), indicating a strong resistance zone. On the Put side, the maximum OI concentration is observed at the 26100 and 26150 strikes, with around 4.69 lakh and 4.30 lakh contracts respectively, highlighting a solid support base. 
Based on the current derivative positioning, the broader trading range for the index is expected to be between 26080 and 26230 for the day. A decisive move is likely only if the index sustains beyond this range on either side.

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Published on 23-12-2025 10:06 am

Nifty

Nifty opened with an upward gap and strong buying momentum from the opening tick led it to end near the day's high. Nifty closedat 26172with a gain of 206 points. On the daily chart the index has formed a long Bullish candle forming higher High-Low formationcomparedtoprevious session indicates positive bias. The chart pattern suggests that if Nifty crosses and sustains above 26180 level it would witnessbuyingwhich would lead the index towards 26250-26320 levels. Important Supports for the day is around 26120 However if index sustainsbelow26120 then it may witness profit booking which would take the index towards 26060-25950 levels.

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