Quote on Pre-Market Comment by Amruta Shinde, Technical & Derivative analyst, Choice Broking
Below the Quote on Pre-Market Comment by Amruta Shinde, Technical & Derivative analyst, Choice Broking
Indian equities are set for a firm start on December 11, with GIFT Nifty indicating an opening near 25,920, roughly 56 points higher. Broader sentiment remains cautiously constructive amid mixed global cues and the absence of significant domestic triggers. In the immediate term, market participants will continue to monitor global equity trends, crude oil price movements, and institutional flows to assess the directional bias for benchmark indices.
From a technical standpoint, Nifty holds immediate support at 25,600–25,650, while the 25,850–25,900 zone continues to act as a strong resistance that has repeatedly halted upward momentum. A decisive breakout above this resistance band will be essential to re-establish bullish traction. Conversely, a sustained move below the identified support range may extend the ongoing consolidation phase.
For Bank Nifty, support is placed around 58,600–58,700, with resistance emerging near 59,200–59,300. This support zone remains pivotal for overall market stability. Any breakdown could heighten selling pressure across financials, whereas sustained trade above support levels may encourage renewed buying on declines, particularly in heavyweight banking constituents.
On the flows front, FIIs offloaded equities worth Rs 1,651 crore on December 10, while DIIs recorded net purchases of more than Rs 3,752 crore.
Given the prevailing volatility and persistent global uncertainties, traders are advised to adopt a selective buy-on-dips approach, maintain disciplined leverage, and employ tight trailing stop-losses with staggered profit-booking. Fresh long positions should be considered only on a sustained move above 26,300, supported by continuous tracking of global cues and critical technical thresholds.
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