Key levels on the Nifty
As per the pivot charts, the key support level for the Nifty is placed at 18,388, followed by 18,346 & 18,279. If the index moves up, the key resistance levels to watch out for are 18,522 followed by 18,563 and 18,631.
It became but any other consolidation day for the marketplace on December 12 with the Nifty50 taking properly aid at 18,three hundred in addition to 18,four hundred and remaining a risky consultation on a flat note. Traders wait for the hobby fee choice through Federal Reserve scheduled to be taken on December 14.
The BSE Sensex fell fifty one factors to 62,130, at the same time as the Nifty50 won 0.60 factors at 18,497 and shaped a bullish candle at the every day charts because the index recouped beginning losses and closed tons better than beginning stages.
But the Bank Nifty endured to look document remaining high, that is a superb signal for the marketplace.
"A affordable superb candle became shaped at the every day chart, which alerts the comeback of bulls after a minor downward correction. After the drawback breakout of 18,500-18,550 stages visible remaining Friday, Nifty now no longer displaying any sharp follow-via weak point on Monday may want to sign possibilities of fake drawback breakout on the stated resistance," stated Nagaraj Shetti, Technical Research Analyst at HDFC Securities.
The short-time period fashion of Nifty stays negative, however the emergence of purchasing from the intraday lows of Monday can be a cheering thing for bulls to make a comeback, Shetti feels.
A sustainable upmove handiest above the hurdle of 18,650 ranges may want to affirm an uptrend continuation pattern, with on the spot help at 18,350 ranges, the marketplace professional said.
The broader markets done higher than benchmarks, with the Nifty Midcap a hundred and Smallcap a hundred indices growing 0.four percentage and 0.fifty five percentage, respectively.
Call option data
We have visible the most Call open interest at 19,000 strike, with 35.forty three lakh contracts, that could act as a important resistance degree withinside the December series.
This is accompanied with the aid of using 20,000 strike, which holds 23.12 lakh contracts, and 18,500 strike, that have greater than 21.ninety five lakh contracts.
Call writing changed into visible at 19,100 strike, which introduced 47,800 contracts, accompanied with the aid of using 18,300 strike, which introduced 40,650 contracts, and 18,900 strike which introduced 37,650 contracts.
Call unwinding changed into visible at 18,700 strike, which shed 2.forty two lakh contracts, accompanied with the aid of using 18,six hundred strike which shed 1.seventy three lakh contracts and 19,500 strike which shed 1.03 lakh contracts.
Put option data
We have visible a most Put open hobby at 18,000 strike, with 36.92 lakh contracts that could act as a important support degree withinside the December series.
This is observed through 18,500 strike, which holds 29.9 lakh contracts, and 17,500 strike, which has collected 28.28 lakh contracts.
Put writing turned into visible at 18,000 strike, which brought 3.45 lakh contracts, observed through 18,400 strike, which brought 2.22 lakh contracts and 18,500 strike which brought 1.36 lakh contracts.
Put unwinding turned into visible at 18,700 strike, which shed 2.seventy two lakh contracts, observed through 18,600 strike which shed 2.3 lakh contracts and 18,800 strike which shed 1.29 lakh contracts.
Bank nifty
The Nifty Bank prolonged profits similarly through seventy five factors on December 12 to give up at a file ultimate excessive of 43,709, outperforming the Nifty50 and forming a bullish candle at the day by day charts. The critical pivot level, if you want to act as vital aid for the index, is positioned at 43,470, accompanied through 43,378 and 43,230 stages. On the upside, key resistance stages are positioned at 43,766 accompanied through 43,858 & 44,006 stages.
FII and DII data
Foreign institutional investors (FIIs) have sold stocks really well worth Rs 138.81 crore, whilst domestic institutional investors (DIIs) bought stocks really well worth Rs 695.60 crore on December 12, as according to provisional records to be had at the NSE.
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