Daily Morning Report – 22/12/25

NIFTY OUTLOOK: 25966.40  FII 1830.89 cr  DII 5722.89 cr
(22nd – 26th December 2025)

As discussed in the previous report dated 15th December 2025, market behaviour remained on the expected lines during the past week as bears took the lead in the Nifty. On a decisive breakdown of 25927, the index drifted down to 25726, reversed from there, and finally closed near that level at 25966.40.

Further, the weekly chart of the Nifty indicates that for the fifth consecutive week, a tug of war between buyers and sellers is continuing, keeping the index indecisive and range-bound. However, a bullish candle with a lower wick appeared on the weekly chart, suggesting buying emerged from the support zone. On the upside, the Nifty may encounter resistance around 26194–26310. An immediate resistance at 26080 may act as a hurdle between the broader move of 25966–26194. Strengthening demand may further push the Nifty towards 26423.

On the downside, 25853–25738 may act as immediate support zones for the Nifty. If the index fails to defend these levels, it may slip further towards 25625–25511.

Bank Nifty OUTLOOK:
SPOT: 59069.20  PCR: 0.73  Max CE OI at 59500 & Max PE OI at 59000

On December 19, 2025, the Bank Nifty index closed at 59069.20 (156.35) (0.27%). The total movement during the trading session was 243.05 points. The index made a high of 59140.55 and a low of 58897.50.

Technical view
Important support and resistance levels for Bank Nifty are 58800 and 59650, respectively.
Intraday support and resistance levels are 59003 and 59136, respectively.
The Relative Strength Index (RSI) for the Nifty Bank stands at 52.3. Below 30 is considered oversold and above 70 overbought.

Bank nifty Day SMA Analysis:

Bank nifty is trading above 5 out of 8 SMA’s (30, 50, 100, 150, 200 Day).

Bank nifty is trading below 3 out of 8 SMA’s (5, 10, 20 Day).

One Bullish Candlestick Pattern was identified in bank nifty on daily chart.

• Long Legged Doji Uptrend

Macro:

1.Dollar index is @ 98.25

2.Vix is @ 14.91 (-11.62%)

3.Brent crude is @60.47

4.10 years bond yield is @ 4.151

Note: The much-anticipated Bank of Japan raised interest rates by 0.25 bps and indicated that further rate hikes will be data-driven. Investors sold the yen after the BOJ delivered the widely expected rate hike, leading to profit-taking and pushing the currency to levels where traders believe authorities may consider intervention to support it. Japan’s 10-year government bond yield touched a 26-year high, while the Nikkei closed 1% higher.

As far as India is concerned, the country signed an Economic Partnership Agreement with Oman on Thursday to boost bilateral trade and investment, as it looks to strengthen Middle East ties and diversify trade amid steep U.S. tariffs. Oman has offered zero-duty access on over 98% of its tariff lines, covering nearly all Indian exports, including gems and jewellery, textiles, pharmaceuticals, and automobiles, the Indian trade ministry said.

The pact, India’s second after the UK agreement this year, is expected to help Indian exporters access new markets as they intensify diversification efforts to counter U.S. President Donald Trump’s punitive tariffs. Despite ongoing negotiations, India has been unable to conclude trade deals with the U.S. or the European Union this year, as initially planned.

Conclusion: The Indian government is actively exploring new markets for its exports amid harsh U.S. tariffs, among the highest globally. More small but strategically important markets may open up across the Gulf region and Africa in the coming period.

Important Pivot Point Levels for Today           

Nifty

Bank Nifty

By Ashok Bhandari (RA)

SEBI Regd. No. INH00019549