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Below the Quote on Post Market Comment by Mandar Bhojane, Research Analyst, Choice Broking

Indian benchmark indices ended with marginal gains on December 11, with the Nifty closing above the 24,600 mark. At the close, the Sensex gained 16.09 points, or 0.02 percent, to settle at 81,526.14, while the Nifty rose by 31.75 points, or 0.13 percent, to end at 24,641.80.

On the daily chart, the Nifty has consolidated for the fourth consecutive session. A close above the 24,750 mark could serve as a trigger for a rally toward the 25,000–25,200 levels in the coming days. On the downside, immediate support levels are at 24,400 and 24,300, providing potential buying opportunities for market participants.

The overall market trend remains sideways to bullish, supported by an upward-trending Relative Strength Index (RSI) at 58.25, indicating strengthening momentum. The session also witnessed the formation of a neutral candlestick pattern, often viewed as a sign of market indecision. Traders will likely focus on a decisive breakout above key resistance levels to confirm the next directional move.

The India VIX, a key measure of market volatility, declined by 13.2675% to close at 13.2675, indicating reduced uncertainty in the market. In the derivatives segment, open interest (OI) data revealed the highest call OI at the 24,800 and 25,000 strike prices, while the 24,500 and 24,000 strikes recorded the highest put OI, marking these as key levels to monitor.

Market participants, including both long-term and short-term investors, are advised to accumulate quality stocks at lower levels or adopt a buy-on-dip strategy, with prudent risk management, to capitalize on potential long-term gains.

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