Wishing all of you and your families a very happy New Year. May God keep you in the best of health and wealth.
Let’s talk about today’s market setup.
Market Opening & Global Cues
Gift Nifty is trading around 60 points positive. I want your attention on the level where Gift Nifty is currently trading, which is around 26,300+.
Talking about Asian markets, we are seeing some profit booking, though there is still mild positivity.
When the market was falling and undergoing retracement, many people were panicking. We consistently advised you not to be afraid. The reason was simple—there were no strong signs of weakness, and this is exactly why we were expecting positivity from these levels.
Nifty & Bank Nifty Performance
As discussed earlier in our weekly Nifty view, we had clearly mentioned:
If retracement happens, how much it can be
Why we should not expect a major crash
Yesterday, Nifty 50 successfully sustained the 26,000 level.
Nifty gained 190 points
Bank Nifty surged by 400 points
For Bank Nifty, 59,500 was a crucial level, and that too was sustained.
There are no signs of weakness at all.
I’m not saying the market will explode from here, but there is no indication of a big fall either. If you are holding positive positions, you should be able to book profits comfortably.
Key Levels to Watch
Nifty 50
Closing: 26,130 (+191 points)
Crucial resistance: 26,200
If Nifty opens and sustains above 26,200, the next target comes into play
If it directly opens much higher, chances of opening above 26,350 are relatively low
Strong support: 26,000
A breach below this could change the trend
Bank Nifty
Closing with a gain of 410 points
Immediate resistance zone near 60,000
Support level: 59,500
The journey towards 60,000 looks smooth for now
FII, DII, VIX & PCR Data
FIIs sold ₹3,597 crore
DIIs bought ₹6,760 crore
Put Call Ratio improved from 0.92 to 1.27
India VIX cooled down from 9.68 to 9.47 (positive sign)
Stocks in Focus
Hindustan Petroleum (HPCL) surged nearly 6.5%
BPCL continues to look very strong on charts
Indian Bank featured among top gainers
Vodafone Idea fell around 10–11%
The fall was expected due to AGR dues payment order
The positive part is that the worst is already factored in
Hindustan Zinc was down around 2%
PB Fintech, TCS, and other F&O stocks saw some selling pressure
Gold, Silver & Commodities Update
Gold fell by nearly 1,200 points
Silver corrected sharply:
From ₹2,51,000, it dropped sharply
Almost 6–7% correction seen in a single session
As mentioned earlier, ₹2.5 lakh was our target in silver, which has been achieved.
If you are trading silver now, maintain strict stop-losses. This phase is ideal for traders because movement is present—but risk is also high.
Currency Market
The Indian Rupee showed mild weakness.
Other major currencies like Euro, British Pound, and Japanese Yen also showed weakness.
Most of the expected action has already played out.
Major Order & Corporate News
Orders worth ₹220 crore received from Canara Bank and Navodaya Vidyalaya Samiti
Canara Bank awarded a ₹162 crore order for an additional annex building in Bengaluru
NCC Ltd received four orders worth ₹1,237 crore
₹705 crore for building division
₹532 crore for transportation projects (roads, bridges, etc.)
IFC sanctioned a ₹5,000 crore loan to Maharashtra State Power Generation Company
₹3,000 crore already sanctioned
Highly secured loan with stable returns
Mutual Fund & Stake Deals
SBI Mutual Fund acquired 22.4 lakh shares of Previews Specialty
Stake increased significantly
HDFC Mutual Fund bought 13.13 lakh shares of CGEL
A professionally managed company with premium-margin orders
Pino Global Fund sold ~14 lakh shares, which were largely absorbed by HDFC MF
Promoter family of Vishnu Prakash R Punglia (VPRPL) sold their entire 4.01% stake
Promoter selling is usually seen negatively, though reasons may vary
Other Important Updates
Blue Dart received a GST demand of ₹420 crore
Company will pay the admissible amount; remaining interest and penalty disputed
No stock is currently under F&O ban
Final Note
All stocks discussed today deserve to be on your watchlist.
