Indian markets ended the day in the red, but the broader picture shows a modest bounce that could matter to everyday investors.
Market Summary
On Friday, December 26, the Sensex slipped 367 points (0.43%) to finish at 85,041.45, while the Nifty 50 fell 100 points (0.38%) to close at 26,042.30. Mid‑cap and small‑cap indices also slipped a little.
Despite the daily dip, the week ended on a slightly positive note. The Sensex rose 112 points (0.13%) and the Nifty 50 gained 0.30%, ending a two‑week losing streak for the Sensex and a three‑week streak for the Nifty.
Technical Outlook for Nifty 50
The Nifty 50 is holding comfortably above the key 26,000 level. It has also stayed above the recent breakout range of 25,700‑25,800, which now acts as strong support.
Resistance is expected around 26,300‑26,500. Options data shows the most call interest near 26,200‑26,300, while put interest is clustered at 25,700‑25,600, reinforcing the support zone.
If the index dips toward 25,600‑25,800, buyers may step in, offering chances to add stocks without risking a wider market reversal.
Bank Nifty Outlook
Bank Nifty has been moving sideways, reflecting a pause after recent gains. The index is safely above the 57,500‑58,000 support band.
Resistance sits near 60,000‑60,500, with a stronger barrier around 61,000.
Stocks to Consider
- Sun Pharmaceutical Industries: Buy between ₹1,700‑₹1,720, target ₹1,780, stop loss ₹1,670.
- AU Small Finance Bank: Buy between ₹970‑₹980, target ₹1,020, stop loss ₹950.
- CG Power and Industrial Solutions: Buy between ₹652‑₹658, target ₹685, stop loss ₹640.
Disclaimer
This article is for educational purposes only. The opinions and price targets mentioned belong to individual analysts, not the platform hosting this post. Always do your own research or consult a certified financial advisor before making any investment decisions.
Remember, this is perspective, not a prediction. Do your own research before acting.