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Below the Quote on Pre-market comment for Tuesday December 30 by Amruta Shinde, Technical & Derivative analyst, Choice Broking

Indian equity markets are expected to open on a flat to mildly negative note on December 30, with GIFT Nifty indicating an opening near 25,924, around 33 points lower than the previous close. Overall sentiment remains cautiously constructive despite mixed global cues and the absence of major domestic triggers. Market participants are likely to closely monitor global equity trends, movements in crude oil prices, and institutional fund flows for incremental directional cues through the session.

From a technical standpoint, the Nifty 50 opened on a positive note in the previous session but could not sustain early gains, gradually slipping to an intraday low of 25,920. This movement highlights continued selling pressure at higher levels and weak follow-through buying, indicating short-term fatigue and easing momentum. Immediate resistance lies in the 26,050–26,100 range, while key support is seen at 25,800–25,850. Trading below the psychological 26,000 mark warrants a cautious approach with strict risk management.

The Bank Nifty also opened higher in the prior session but witnessed notable intraday selling, slipping to a low of 58,809. This movement reflects profit booking after recent advances and indicates growing caution toward banking stocks. Immediate resistance for the index is seen at 59,150–59,250, while supports at 58,600 and 58,700 remain crucial for maintaining near-term stability.

On the institutional front, Foreign Institutional Investors (FIIs) continued their selling streak for the fifth consecutive session on December 29, offloading equities worth Rs.2,759 crore. In contrast, Domestic Institutional Investors (DIIs) provided support to the market by purchasing equities worth Rs.2,643 crore on the same day, partially offsetting FII outflows.

Amid volatility and global uncertainty, traders should stay selective and disciplined, buy quality stocks on dips with tight risk controls, and initiate fresh longs only after a confirmed breakout above 26,300.

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