Daily Morning Report – 2/12/25

NIFTY OUTLOOK: 26175.75 FII -1171.31 cr DII 2558.93 cr

As discussed yesterday, market behaviour remained on expected lines. Nifty started with an uptrend and made a day high of 26325.8, but instant profit booking dragged it down near our support of 26105 (made a day low of 26124.2).

A bearish opening marubozu on the daily chart suggests resistance at higher levels and strong selling pressure over buying pressure. If sellers aggravate, then on a decisive breakdown of 26127, Nifty may slip to 26077–26028. If supply accentuates further, it may test 25979.

For the upside, 26225–26273 may act as immediate resistance. A sustained breakout above these levels may push Nifty towards 26323–26373.

Bank Nifty Outlook

Spot 59681.35 PCR 1.09 Max CE OI 58500 Max PE OI 58500

On 1st December 2025, Bank Nifty closed at 59681.35 (-71.35 / -0.12%).
Total intraday movement: 586.70 points.
High: 60114.30 Low: 59527.60

Key Levels
• Important Support: 59408
• Important Resistance: 60095.90
• Intraday Support: 59520
• Intraday Resistance: 59842

Intraday Strategy
• Go long above 59842, SL 59788, Target 60004
• Go short below 59520, SL 59573, Target 59358

RSI for Bank Nifty is 70.50, indicating overbought conditions.

Bank nifty Day SMA Analysis:

Bank nifty is trading above 8 out of 8 SMA’s (10, 20, 30, 50, 100, 150, 200 Day).

Bank nifty is trading below 0 out of 8 SMA’s. (5 Day)

No active candlestick Pattern was identified in bank nifty on daily chart.

Macro:

1.Dollar index is @ 99.23

2. S&P 500 vix 16.93 ( +3.67%)

3. Brent crude is @ 63.08

4.10 years bond yield is @ 4.096

Note:

U.S. manufacturing contracted for the ninth straight month in November as factories faced slumping orders and higher input prices due to import tariffs.
ISM manufacturing PMI dropped to 48.2 from 48.7, indicating contraction.
Input prices increased (prices paid 58.5 vs 58.0) suggesting inflation may stay elevated.

As expected and mentioned last night, the Dollar Index slipped further. Bullions and base metals are in a strong bull run — silver surged from 54.5 to 59.7 in a day and is near 60$, copper is at a 52-week high, and gold is trading ~0.50% up.

Lower dollar index and increased rate-cut hopes will keep bullion at elevated levels.

For India, strong domestic data is raising questions about rate cuts even as inflation remains at record lows.
GDP grew 8.2% in Q2, prompting upgrades of full-year growth above 7%.
The most positive takeaway is GDP growth without inflation rising.

The question now is whether RBI will cut rates in this scenario. Our view remains unchanged:
A rate cut is not required. RBI may pause while keeping its stance accommodative.

Conclusion:

RBI may keep rates unchanged. We may see profit booking up to 26054–26005.
Metal stocks should outperform even if profit booking comes.

Lower dollar index will support names like Hindzinc and Hindcopper.

Trading ideas (as provided):
• Hindzinc — Buy on dips
• Hindcopper 492–492 buy zone, SL 487, targets 505–512
• Hindcopper 332–328 buy zone, targets 346–352

Important Pivot Point Levels for Today           

Nifty

Bank Nifty

By Ashok Bhandari (RA)S

EBI Regd. No. INH00019549