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Published on 12-01-2026 11:10 am

Nifty Outlook

Friday’s sharp fall has exposed the 200 day SMA positioned deep at 25063 as the next good support. This also warns us that Nifty is probably coming off a sideways trading range that has been on since November 2025, prompting us to consider the possibilities of a larger fall. That said, oscillators are oversold, and we are still in the vicinity of the December low, providing a reasonable window for bulls to regroup and bring about a turn higher.

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Published on 12-01-2026 10:34 am

Market Outlook

The Nifty 50 ended the week with a sharp decline of 2.45%, settling at 25,683 after hitting a fresh all-time high of 26,373 earlier in the week. On the daily chart, the index has broken below its rising channel and is now hovering near the crucial support zone of 25,600, which coincides with the 100-DEMA. In the derivatives segment, fresh call writing at the 25,800 strike highlights an immediate upside hurdle, while put OI at 25,500 offers near-term support; a decisive break below this level could extend the corrective move. Overall, the near-term outlook remains sideways to negative, making a sell-on-rallies strategy advisable

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Published on 12-01-2026 10:33 am

GEPL DATA POINTS: Nifty Futures continue to witness short build-up, indicating that selling pressure remains intact and the near-term bias stays bearish. This negative undertone is further reinforced by fresh short positions in Call options along with long build-up in Put options, highlighting that market participants are positioning themselves cautiously with a bearish bias.
From the options data standpoint, the highest Call Open Interest is seen at the 25,700 strike, with nearly 2.99 lakh contracts. Sustained Call writing at this level suggests strong supply at higher levels, thereby establishing the 25,700–25,735 zone as a key resistance area for the index.
On the downside, the maximum Put Open Interest is concentrated at the 25,500 strike, with around 3.56 lakh contracts, indicating that Put writers are actively defending this level. As a result, 25,500 emerges as an immediate and crucial support zone, with attempts to restrict further downside.
The Put–Call Ratio (PCR) currently stands at 0.64, which remains within a neutral and comfortable range. This reflects an absence of panic selling or extreme bearishness, suggesting that despite the negative bias, the market structure remains orderly.
From a combined technical and derivatives perspective, immediate support is placed in the 25,500–25,460 range. A decisive breakdown below this zone could trigger accelerated selling pressure. On the upside, the 25,700–25,735 band is likely to act as a strong hurdle due to persistent Call writing. A sustained move beyond either of these levels will be critical to confirm the next directional trend in Nifty.

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Published on 12-01-2026 10:18 am

Bank Nifty

* The banking index extended its corrective phase for a third consecutive session, closing the week in negative territory despite recording a fresh all-time high earlier.

* The index opened weak and remained under sustained selling pressure throughout the session.

* Market breadth was mixed, with AU Bank and Union Bank outperforming, while ICICI Bank and Axis Bank underperformed.

* Immediate resistance is seen near 59,800, with key support around 58,700.

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Published on 12-01-2026 10:18 am

Nifty

* Nifty extended its decline on Friday, losing over half a percent in line with weak global cues.

* After an initial uptick, the Nifty soon came under sustained selling pressure and drifted lower through the session, eventually closing near the 25,683 level, down by around 0.75%.

* From a technical perspective, the decline has disrupted the short-term up move in the Nifty, with the index now retesting its medium-term support zone near the 100 DEMA around the 25,600 level.

* In the current environment, a selective approach with controlled position sizing and balanced exposure on both sides is advisable.

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