Indian stocks opened flat on Dec 30, with a slight downward tilt as thin trading and weak global cues kept investors cautious.
Market Snapshot
The Sensex slipped for a fourth straight session, falling 346 points (‑0.41%) to close around 84,696. The Nifty 50 dropped for the third day, losing 100 points (‑0.38%) to finish near 25,942.
Key Option Levels
The biggest open interest for call options sits around the 26,100‑26,200 strikes, while the most put interest is near the 25,900‑26,000 strikes. Traders are also writing calls at 26,000‑25,950 and puts at 25,900‑25,850, suggesting a likely trading range of 25,500‑26,300, with a tighter band of 25,700‑26,100 for the day.
Nifty 50 Outlook
After opening slightly higher, the Nifty tried to break past the 26,100 zone but fell back, finding support near 25,900. The index closed about 100 points lower, forming a bearish daily candle and creating lower highs and lower lows over the last two sessions.
If the index stays below 26,000, further weakness could push it toward the 25,800‑25,700 area. Resistance levels to watch are around 26,150 and 26,250.
Bank Nifty Outlook
Bank Nifty opened flat and briefly reached the 59,150 zone before slipping to around 58,800. A small bearish candle on the daily chart signals selling pressure at higher levels.
Should the index stay below 59,000, it may test 58,750‑58,500. On the upside, hurdles appear near 59,250 and 59,500.
Three Stock Picks for Today
- AU Small Finance Bank – Buy
Target: ₹1,050 | Stop‑loss: ₹955
The stock is in an uptrend, respecting its 20‑day EMA support. A rising ADX confirms the trend’s strength. - Marico – Buy
Target: ₹785 | Stop‑loss: ₹734
After breaking lower lows, the stock has moved higher on strong volume. A climbing RSI shows positive momentum. - Astral – Sell
Target: ₹1,290 | Stop‑loss: ₹1,400
The price broke a downtrend line and formed a solid bearish candle. A falling MACD supports further downside.
Quick Takeaway
The market is likely to stay range‑bound today, with Nifty 50 hovering around 25,900. Keep an eye on the support levels mentioned above, and consider the three stock recommendations based on current technical signals.
Disclaimer
Remember, this is just an opinion, not a guarantee. Do your own research and consider consulting a certified financial advisor before making any investment decisions.