NIFTY OUTLOOK: 26172.40 FII -457.34 cr DII 4058.22 cr
As discussed yesterday, market behaviour remained on the expected lines during the day, as supportive buying surpassed all resistance levels and took the Nifty rally up to 26180.70.
Further, a strong bullish candle with a bullish opening gap appeared on the daily chart of the Nifty, suggesting that the current bullish momentum is strong and likely to continue. Buyers appear confident about the near-term uptrend. Hence, if Nifty continues its northward journey, then on a decisive breakout above 26220, it may rally further up to 26267–26316. Stronger demand may extend the rally up to 26363.
However, on the downside, 26125–26077 may act as immediate support for the Nifty. If it breaks below these levels and sustains, Nifty may drift down to 26029–25981.
Bank Nifty OUTLOOK:
SPOT: 59304.00 PCR: 0.79
Max CE OI: 59500 & Max PE OI: 59000
On December 22, 2025, the Bank Nifty index closed at 59304.00, up 234.80 points (0.40%). The total movement during the session was 215.70 points, with a high of 59371.20 and a low of 59155.50.
Technical View:
Important support and resistance levels for Bank Nifty are 58840 and 59525, respectively.
Intraday support and resistance levels are 59289 and 59319, respectively.
The Relative Strength Index (RSI) for Bank Nifty stands at 56.1. Below 30 is considered oversold and above 70 overbought.
Bank nifty Day SMA Analysis:
Bank nifty is trading above 8 out of 8 SMA’s (5, 10, 20, 30, 50, 100, 150, 200 Day).
One Bullish Candlestick Pattern was identified in bank nifty on daily chart.
- Short Line Uptrend
Macro:
1.Dollar index is @ 97.967
2.Vix is @ 14.43 ( -3.22)
3.Brent crude is @ 61.98
4.10 years bond yield is @ 4.169
Note: All macro factors remain stable, with no major changes overnight.
New Zealand and India said on Monday that they have concluded talks on a free trade agreement aimed at doubling bilateral trade over the next five years. The agreement will eliminate or reduce tariffs on 95% of New Zealand’s exports to India, with more than half of the products becoming duty-free from day one. In return, all Indian goods will receive duty-free access to New Zealand. New Zealand has also agreed to invest $20 billion in India over the next 15 years.
Two-way trade between the two countries stood at around $1.81 billion in 2024, largely driven by pharmaceutical exports from India and forestry and agricultural products from New Zealand. While this figure is small compared to India’s total goods trade, which exceeded $1 trillion in FY25, it marks a strategic step toward diversification.
India’s infrastructure output rose 1.8% y-o-y in November, supported by strong cement and steel production, according to government data. However, the October figure was revised downward to a 0.1% contraction from flat.
Conclusion: As mentioned multiple times, the Indian government is actively expanding trade partnerships to reduce long-term dependence on the U.S. amid tariff-related challenges. The rise in infrastructure output indicates that economic activity is gaining momentum.
Ashok Bhandari (RA)SEBI Regd. No. INH00019549
By Ashok Bhandari (RA)
SEBI Regd. No. INH00019549
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