Daily Morning Report – 3/12/25

NIFTY OUTLOOK: 26032.20 FII -3642.30 cr DII 4645.94 cr

As discussed yesterday, market behaviour remained on expected lines. Selling pressure opened Nifty near our support of 26077 (opened at 26087.95) and it slipped to our level of 25979, making a day low of 25997.85.

A small bearish candle on the daily chart indicates continuation of bearish sentiment. A decisive breakdown below 25983 may drag Nifty to 25935–25887. If supply intensifies, it may even test 25838.

On the upside, 26081–26130 may act as immediate resistance. A breakout and sustained move above this zone may push Nifty towards 26177–26226.

BANK NIFTY OUTLOOK
SPOT: 59273.80 PCR: 0.99 Max CE OI: 60000 Max PE OI: 58500

On December 02, 2025, Bank Nifty closed at 59273.80 (-407.55) (0.68%). The total intraday range was 404.60 points, with a high of 59656.55 and a low of 59251.95.

Technical View
Major support and resistance levels are 59012 and 60095.90 respectively.
Intraday support and resistance are 59162.50 and 59385.10.

Intraday Strategy
Go long above 59385.10 with SL 59347.90 and target 59496.30.
Go short below 59162 with SL 59199.60 and target 59051.20.

RSI for Bank Nifty is 61.70. Below 30 is oversold; above 70 is overbought.

Bank nifty Day SMA Analysis

Bank nifty is trading above 6 out of 8 SMA’s (30, 50, 100, 150, 200 Day).

Bank nifty is trading below 2 out of 8 SMA’s. (5, 10 Day)

One active bullish candlestick Pattern was identified in bank nifty on daily chart.

• Inverted Hammer

Macro:

1.Dollar index is @ 99.43

2.S&P 500 Vix is @ 16.99

3.Brent crude is @ 62.69

4.US 10 years bond yield is @ 4.091

Note: Weak data over the last 2–3 days has raised hopes of a rate cut. The latest ISM numbers showing manufacturing weakness have strengthened expectations of a policy shift next week, with futures assigning an 86% probability to a 25 bps cut at the Dec 9–10 meeting. Cooling data, easing inflation, and recent Fed remarks are pushing expectations of earlier cuts. Possible leadership changes at the Fed add uncertainty ahead of Powell’s term end next year.

BofA Global Research now expects a 25 bps cut in December, versus earlier expectations of no change. It also sees two more cuts in June and July 2026, taking the terminal rate to 3.00%–3.25%.

In India, Russian President Vladimir Putin begins a two-day visit from Thursday, aiming to push oil, missile system, and fighter jet sales as Russia looks to rebuild energy and defence ties impacted by U.S. pressure. We must watch how the U.S. responds, given earlier penalties on India for Russian oil purchases.

Conclusion: Markets may remain under pressure and can see further downside. A break below 25963 may drag Nifty to 25843–25723. The next 2–3 days require caution as the U.S. will closely watch the Russia–India meeting and any new deal announcements.

FII net long positions dropped sharply from 18.80% to 15.59% (3.2% in one day), signalling caution. We will keep positions light and trade with strict stop-losses.

Important Pivot Point Levels for Today           

Nifty

Bank Nifty

By Ashok Bhandari (RA)

SEBI Regd. No. INH00019549