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Gap-Down Opening Seen For Nifty Today

Trends in the GIFT Nifty index futures for December delivery, which was trading at 26,050 at 7:30 am, indicates a gap-down opening for Nifty today.

Nifty Technical Outlook

The Nifty opened with a gap-up on Friday and closed above the 26,000 mark. The index ended in green for the second straight session. Earlier in the week, the index rebounded sharply after finding support near its 50-day moving average around 25,720. Despite the two-day recovery, the Nifty ended the week down 0.53%. Among heavyweights, Tata Steel, Hindalco and Eternal led the gains, while Hindustan Unilever, Max Healthcare and Sun Pharma lagged due to selling pressure. FMCG were the only sector to close in the red. The rupee weakened for a third consecutive session, slipping 5 paise to a record low of 90.42 per dollar. On the macro front, ongoing India–US negotiations and a recent call between the two leaders have boosted optimism around a potential trade deal. The Nifty surged 148.40 points closing at 26,046.95. The Nifty formed a bullish candlestick pattern on the daily chart, but we expect the selling pressure to emerge at higher levels. The volatility index IndiaVIX has closed below 12 and we expect the volatility to remain low in the short term. The Nifty short-term trend remains bearish and the trend will turn bullish only above 26,100 levels. The 9-day simple moving average is placed at 25,971.3.

Domestic & Global Indices

After a mixed Thursday, U.S. stocks fell sharply on Friday, led by a steep decline in the tech-heavy Nasdaq amid a broad tech sell-off. Broadcom tumbled over 11%, dragging the sector lower, despite reporting betterthan-expected fourth-quarter results and issuing upbeat guidance. The Dow index moved down by 245 points to close at 48,458.05 and the S&P 500 index moved down by 73 points to close at 6,827.41.

Derivatives Watch

* Based on Open Interest in Futures, FII’s have decreased their long position by 2801 contracts and have increased their short position by 631 contracts. FII's are net bearish by 3432 contracts.

* Based on Open Interest in Options, FII's were net bullish by 66051 contracts. In Nifty, the highest PUT OI was seen at 26000 and the highest CALL Open Interest was seen at 26200 strike.

* Based on Open Interest, we are bullish on Hindustan Zinc, GMR Airport, Kaynes Technology, JSW Energy, National Aluminium, Dalmia Bharat, PNB Housing Finance, BPCL, Sammaan Capital and NMDC. We are bearish on Jubilant Foodworks, Kfin Technologies, Hindustan Unilever, PI Industries, Siemens, Dabur, Solar Industries, PB Fintech, RBL Bank and Petronet.

Economy & Stocks to Watch

* India’s retail inflation edged up in November, with headline CPI printing at 0.71%, lower than the CNBC-TV18 poll estimate of 0.8%. The print, however, was higher than October’s 0.25% month-on-month reading. Food inflation stayed in deflation for the sixth consecutive month, though the rate of decline slowed considerably. Food inflation remained firmly in deflation at –3.91%, compared with expectations of – 3.5% and versus –5.02% in October. The moderation of food deflation by 111 basis points suggests rising costs for key essentials, particularly perishables.

* Ashoka Buildcon Ltd on Sunday, December 14, said its joint venture, Ashoka–Aakshaya JV, has received a Letter of Acceptance-cum-Work Order from the Brihanmumbai Municipal Corporation (BMC) for the construction of a flyover in Mumbai. The joint venture, in which Ashoka Buildcon holds a 51% stake as the lead member, while Aakshya Infra Projects Private Limited owns the remaining 49%, had submitted the bid for the project to the civic body. The project involves the construction of a flyover connecting J.J. Bridge and Sitaram Selam Bridge (Y Bridge) at the junction of J.J. Road and Saboo Siddik Polytechnic Road in ‘E’ Ward, the company said in a regulatory filing. The accepted bid value stands at Rs.1,041.44 crore, inclusive of GST.

* Traditional FMCG distributors in Tamil Nadu held a protest in Chennai on Saturday against what they allege are predatory pricing practices and discriminatory supply policies adopted by large FMCG manufacturers, a move they say is crippling small distributors and neighbourhood retailers across the state. The protest, organised by the Tamil Nadu Consumer Products Distributors Associations Federation, which is affiliated to the Federation of All India Distributors Associations (FAIDA), was held near Rajarathinam Stadium in Egmore. The federation represents thousands of distributors who form the backbone of the country’s traditional fast-moving consumer goods supply chain.

* Paytm, on Friday (December 12) said it has completed an additional investment of Rs.2,250 crore in its wholly-owned subsidiary Paytm Payments Services Ltd (PPSL). The infusion, executed on December 12, 2025, was made through a subscription to PPSL’s rights issue of equity shares, the company said in a regulatory filing. Paytm reported a net profit of Rs.211 crore for the quarter ended September 2025 (Q2FY26) before a one-time charge. After fully impairing a Rs.190 crore loan to its joint venture, First Games Technology Pvt Ltd, the company’s reported PAT stood at Rs.21 crore.

* KEC International Ltd has secured new orders worth Rs.1,150 crore, marking the largest-ever order for its India Transmission and Distribution (T&D) business. The global infrastructure engineering, procurement and construction (EPC) firm, part of the RPG Group, said the contracts were won in the normal course of business. The India T&D segment bagged a major composite order from a reputed private player for a 765 kV transmission line and a 765/400 kV air-insulated substation on a turnkey basis. In addition, the civil business secured an order for incremental civil and structural works for a 150 MW thermal power plant, expanding its presence in the segment.

* Bharat Electronics Ltd (BEL) has announced that it has received additional orders worth Rs.776 crore since its last disclosure on November 14, 2025, further strengthening its order inflow for the year. While BEL has not disclosed the names of the entities placing the orders, the company informed the exchanges that the new contracts include major indigenous systems such as the counter unmanned aerial system (SAKSHAM), software defined radios, anti-drone systems, a range of communication equipment, medical electronics, gun and weapon control systems, security software, avionics, masts, as well as various components, upgrades, spares and support services.

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