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Below the Quote on Market Wrap 10th December 2025 by Mr. Ajit Mishra - SVP, Research, Religare Broking Ltd

"Markets remained volatile and ended lower, extending the cautious sentiment ahead of the US Federal Reserve’s policy outcome. After a brief positive start, the Nifty index gradually drifted lower through the session and finally closed near the day’s low at 25,758, down 0.32%. Sectoral performance broadly aligned with the benchmark trend, with IT, financials, and realty leading the decline, while metal and pharma managed to end marginally higher. Meanwhile, the broader indices resumed their corrective phase after a day’s pause, losing nearly a percent each.

With all eyes on the US Fed, participants expect a 25-bps rate cut, while the key focus will be on the 2026 dot-plot guidance. Additionally, updates from the India–US trade discussions in New Delhi will remain in the spotlight.

The recent slide, following Friday’s RBI-driven rally, has weakened the short-term sentiment, and we now view 25,650 as the next critical support. A decisive break below this level could further widen the consolidation range, with the next major support at 25,400 level. On the upside, the 20-DEMA, placed around 25,950, now acting as the immediate hurdle, and only a sustained move above this zone may help improve the near-term bias.

Until clarity emerges, we recommend maintaining a stock-specific trading approach, with buying opportunities in private banks, autos, and metals, while also keeping selective short positions as a hedge against potential downside risk."

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