NIFTY for 26th December

NSE:NIFTY   Nifty 50 Index
After a long time Nifty made a red candle with lower high and lower low. Tomorrow being expiry, some wild moves can be expected. Please check my video posted on youtube under channel name Market Movers India for slightly more analytical content. Due to year- end holiday season, volumes could be muted, as was evident in provisional figures of FIIs and DIIs on Tuesday. Both were net sellers. Final figures for Monday but painted a different picture. FIIs were net buyers in all the three segments by big volumes, Equity (1679 Crs ), Index futures (612 Crs ) and stock futures (804 Crs ). In a nutshell, FIIs do not seem to have turned bearish , they are still in buying mode and DIIs will sell when they see unnatural rise.
Nifty Option chain shows a lot of unwinding on PUT side. This suggests that PUT writers are less confident about rise. There thus is no dependable support. On the other hand, there is good Call writing, and a clear cut resistance is seen at 12250 which witnessed highest fresh Call writing on Tuesday, even though highest total OI is at 12300. So for tomorrow, we will put our bracket for Nifty trading at 12100-12250. On daily charts , Nifty made a red candle with lower high, lower low and lower close as compared to yesterday. A Selling area got created which is marked on 15 min chart, so one can sell there. As for buying Nifty , there is no such buying area in sight till 12100.
All the best. Happy trading.


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