Daily Morning Report – 24/12/25

NIFTY OUTLOOK

Spot: 26177.15  FII: -Rs. 1,794.80 cr  DII: Rs. 3,812.37 cr

As discussed earlier, market behaviour remained on expected lines. Nifty respected the support of 26125 (day’s low 26119) and resistance of 26220 (day’s high 26233). After respecting both levels, Nifty closed near the previous close at 26177.15.

A bearish candle on the daily chart suggests indecision in Nifty’s direction. If bears take the lead, a decisive breakdown below 26131 may lead to a correction towards 26087–26040. If supply intensifies, Nifty may test 25996.

However, the immediate uptrend remains intact. If bulls regain control, a sustained move above 26223 could push Nifty towards 26267–26313. Stronger demand may further extend the rally to 26358.

BANK NIFTY OUTLOOK

Spot: 59299.55  PCR: 0.77
Max CE OI: 59500  Max PE OI: 59000

On 23rd December 2025, Bank Nifty closed at 59299.55, down 4.45 points (-0.01%). The index witnessed a total intraday movement of 185.6 points, with a high of 59402.35 and a low of 59216.75.

Technical View:

• Key support: 58840
• Key resistance: 59525
• Intraday support: 59249
• Intraday resistance: 59351
• RSI: 56.0 (neutral zone; below 30 oversold, above 70 overbought)

Bank nifty Day SMA Analysis:

Bank nifty is trading above 7 out of 8 SMA’s (5, 10, 30, 50, 100, 150, 200 Day).

Bank nifty is trading below 1 out of 8 SMA’s (20 Day).

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

• Long Legged Doji Uptrend

Macro:

1.Dollar index is @ 97.715

2.Vix is @ 13.79 ( -2.06%)

3.Brent crude is @ 62.38

4.US 10 years bond yield is @ 4.172

Note: Global & Macro Cues

• Former BOJ board member Makoto Sakurai indicated that the Bank of Japan may hike rates once more in June–July next year and could raise rates three additional times to 1.5% by 2028.
• BOJ may hike rates twice in FY27 if U.S. growth remains strong and inflation stays above the 2% target. However, in case of heightened U.S. uncertainty and cooling domestic inflation, BOJ may opt for only one hike in FY27.
• Global markets edged higher after stronger-than-expected U.S. economic data. U.S. GDP grew at an annualised rate of 4.3% in Q3, well above estimates of 3.3%, driven by robust consumer spending. Treasury yields rose, while the yen strengthened following Tokyo’s warning on currency intervention.

India Macro Update

The Reserve Bank of India will infuse nearly $32 billion of rupee liquidity over the next month through open market bond purchases and a dollar-rupee buy/sell swap.

• RBI to purchase Rs. 2 trillion worth of government bonds between 29th December and 22nd January
• A $10 billion, 3-year dollar-rupee buy/sell swap scheduled for 13th January

These measures aim to boost rupee liquidity while absorbing excess dollar liquidity that had pushed forward premiums higher. RBI has already infused Rs. 6.50 trillion via OMO purchases in the current calendar year — a record high.

Outlook: With ample liquidity post rate cut, the rupee may gain strength, and bond yields may cool in the near term.

Important Pivot Point Levels for Today           

Nifty

Bank Nifty

By Ashok Bhandari (RA)

SEBI Regd. No. INH00019549