NIFTY MIDCAP 50

Ownership, Material Conflicts of Interest and Disciplinary History

MCD is a wholly owned subsidiary of Network 18 Media & Investments Ltd ("Network18"), in which Independent Media Trust (IMT) holds 56.89% stake. Reliance Industries Limited ("RIL") is the sole beneficiary of IMT. Network18 and RIL and their subsidiaries, joint ventures and associates can be considered as associates of MCD.

Details of Associate

Receipt of Compensation

Third-Party Compensation

Employment History

Market-Making Activities

Use of Artificial Intelligence

Nifty Aims To Defend 26,000 Amid Thin Volumes, Record-Low VIX| Opening Bell Live

Nimesh Chandan expects corporate profit growth to move closer to double-digit in the second half of FY26 and further accelerate into the mid-teens in FY27.

India may raise customs duties and offer targeted incentives for about 100 products with high import dependence, aiming to reduce the trade deficit and reliance on single-country supply chains, especially China, according to an Economic Times report.

shorts/business/daily-voice-nimesh-chandan-bullish-on-earnings-growth-acceleration-next-year-double-digit-profit-growth-seen-in-h2fy26

Earnings growth is set to accelerate as we move into 2026, said Nimesh Chandan, Chief Investment Officer at Bajaj Finserv Asset Management. He expects corporate profit growth to move closer to double-digit in the second half of FY26 and further accelerate into the mid-teens in FY27.

According to him, the Fed’s December move likely marks the end of its rapid easing phase. January looks more like a pause than a pivot as markets are pricing less than a one-in-four chance of another cut, he said in an interview to Moneycontrol.

Among sectors, he is constructive on non-ferrous metals as a basket and believes they should do well over the next year.

Do you believe US Federal Reserve will make the final benchmark interest rate cut of its current easing cycle in January 2026, followed by a possibility—but not a confirmation—of another rate cut later in the year?

The Fed’s December move likely marks the end of its rapid easing phase. January looks more like a pause than a pivot as markets are pricing less than a one-in-four chance of another cut. The committee’s own projections point to just one reduction in 2026, and that’s conditional on inflation staying benign and growth softening further.

Our base case is a hold in January, with scope for a cut in March if data cooperates. Beyond that, the Fed will tread carefully; policy credibility matters more than speed. Investors should prepare for a slower, data-dependent path rather than a straight line to lower rates.

Are you confident that earnings growth is set to accelerate next year?

Yes, we remain confident that earnings growth is set to accelerate as we move into 2026. We expect corporate profit growth to move closer to double-digit in the second half of FY26 and further accelerate into the mid-teens in FY27.

This improvement is being underpinned by a gradual pickup in economic activity, which should translate into healthier revenue growth for Nifty 500 companies. At the same time, a relatively benign and soft commodity cost environment is likely to support margin expansion. The combination of improving top-line growth and stable-to-improving margins should result in strong earnings growth, which, in turn, should provide support to market returns over the next year.

With consistent Fed funds rate cuts, expectations of strong earnings visibility, and the possibility of an India–US trade deal sooner rather than later, do you expect FII outflows to stop soon and 2026 to witness net inflows?

FII flows are influenced by multiple and often shifting factors. When we look at India’s positioning relative to other emerging markets, India continues to stand out as a clear bright spot.

The combination of relatively stronger economic growth, macro stability and political certainty, with a stable government at the helm, places India in a favourable position to attract capital flows that are directed towards emerging markets. These structural positives provide a strong foundation for investor confidence.

In addition, once the resolution of trade-related uncertainties plays out, they should help restore India’s competitiveness in export markets and bring greater stability to the currency. Taken together, these factors are likely to reinforce foreign investor confidence and improve the environment for capital inflows over the period ahead.

Do you see the market recording a rally of more than 10 percent even in 2026?

If you look at the track record, the Nifty has delivered positive returns in every calendar year for the last 10 years, which is quite rare and something very few equity markets globally have managed to achieve. That consistency itself speaks to the underlying strength of the Indian market.

As we move into 2026, with earnings growth expected to pick up, we believe the Nifty is well placed to continue delivering positive returns. Importantly, it is not just the headline index. Broader market performance over the last year or so has lagged the Nifty, and we expect a recovery there as well.

As earnings growth improves, uncertainties around trade-related issues reduce, and some of the geopolitical tensions ease, the overall environment should turn more supportive for equities.

Do you think the commercial vehicle segment within the auto space will make a strong comeback next year?

The commercial vehicle segment has not gone through a typical sharp downturn over the last few years. A recovery is clearly underway, and we believe the segment is already in the process of picking up momentum. Over the last few months, we have started to see early green shoots of recovery, both in key lead indicators and in commercial vehicle sales data.

Typically, commercial vehicles tend to act as an early indicator of an economic pickup. Since we expect the broader economy to improve, the commercial vehicle segment should benefit from that trend as well. While the upturn may be relatively shallow, we do expect a recovery to continue, with the last quarter of the current fiscal also shaping up to be supportive for the segment.

Do you see the rupee bottoming out soon?

Foreign portfolio outflows, a slow year for FDI coupled with tariff worries put some pressure on the Rupee. India’s fundamentals, meanwhile, stayed solid, growth held up, inflation was at all-time lows and the current account avoided stress.

It’s possible that next year we may see recovery. We expect a softer dollar, steadier trade post the trade deal, and a return of risk appetite in global portfolio flows. FDI prospects also look good for 2026. With imports slowing and the trade balance improving, the rupee has a stronger foundation for recovery.

Do you expect export-oriented companies to see strong earnings uplift due to rupee depreciation?

Yes, we do believe that export-oriented sectors such as Pharmaceuticals and IT could see an earnings uplift from the Rupee depreciation. Currency movement can provide a near-term tailwind and may result in a near term benefit for these sectors.

However, over the longer term, earnings performance will continue to be driven by the underlying fundamentals of the businesses rather than currency alone. Within this context, we remain constructive on the Pharma sector, where fundamentals are supportive, and we are overweight there. In contrast, the outlook for the IT sector is likely to remain more volatile, driven by policy actions in the US and the growth trajectory of the US and European economies.

Do you see strong opportunities in non-ferrous metals in 2026?

We have been bullish on metals throughout last year. Historically, every rate-cut cycle tends to be accompanied by an uptick in the commodity cycle, as lower rates and expectations around growth provide support to commodity prices. In that context, the recent set of rate cuts by the US Federal Reserve have already started to boost commodity prices, including non-ferrous metals.

A sustained upcycle in non-ferrous metals will continue to depend on the pace of economic activity in developed markets as well as in China. These two regions remain critical drivers for demand. We are therefore closely monitoring how these macro variables evolve.

Overall, we are constructive on non-ferrous metals as a basket and believe they should do well over the next year. However, the extent and durability of the upside will be influenced by how global economic conditions play out.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

Daily Voice: Nimesh Chandan bullish on earnings growth acceleration next year; double-digit profit growth seen in H2FY26

Earnings growth is set to accelerate as we move into 2026, said Nimesh Chandan, Chief Investment Officer at Bajaj Finserv Asset Management. He expects corporate profit growth to move closer to double-digit in the second half of FY26 and further accelerate into the mid-teens in FY27.

According to him, the Fed’s December move likely marks the end of its rapid easing phase. January looks more like a pause than a pivot as markets are pricing less than a one-in-four chance of another cut, he said in an interview to Moneycontrol.

Among sectors, he is constructive on non-ferrous metals as a basket and believes they should do well over the next year.

Do you believe US Federal Reserve will make the final benchmark interest rate cut of its current easing cycle in January 2026, followed by a possibility—but not a confirmation—of another rate cut later in the year?

The Fed’s December move likely marks the end of its rapid easing phase. January looks more like a pause than a pivot as markets are pricing less than a one-in-four chance of another cut. The committee’s own projections point to just one reduction in 2026, and that’s conditional on inflation staying benign and growth softening further.

Our base case is a hold in January, with scope for a cut in March if data cooperates. Beyond that, the Fed will tread carefully; policy credibility matters more than speed. Investors should prepare for a slower, data-dependent path rather than a straight line to lower rates.

Are you confident that earnings growth is set to accelerate next year?

Yes, we remain confident that earnings growth is set to accelerate as we move into 2026. We expect corporate profit growth to move closer to double-digit in the second half of FY26 and further accelerate into the mid-teens in FY27.

This improvement is being underpinned by a gradual pickup in economic activity, which should translate into healthier revenue growth for Nifty 500 companies. At the same time, a relatively benign and soft commodity cost environment is likely to support margin expansion. The combination of improving top-line growth and stable-to-improving margins should result in strong earnings growth, which, in turn, should provide support to market returns over the next year.

With consistent Fed funds rate cuts, expectations of strong earnings visibility, and the possibility of an India–US trade deal sooner rather than later, do you expect FII outflows to stop soon and 2026 to witness net inflows?

FII flows are influenced by multiple and often shifting factors. When we look at India’s positioning relative to other emerging markets, India continues to stand out as a clear bright spot.

The combination of relatively stronger economic growth, macro stability and political certainty, with a stable government at the helm, places India in a favourable position to attract capital flows that are directed towards emerging markets. These structural positives provide a strong foundation for investor confidence.

In addition, once the resolution of trade-related uncertainties plays out, they should help restore India’s competitiveness in export markets and bring greater stability to the currency. Taken together, these factors are likely to reinforce foreign investor confidence and improve the environment for capital inflows over the period ahead.

Do you see the market recording a rally of more than 10 percent even in 2026?

If you look at the track record, the Nifty has delivered positive returns in every calendar year for the last 10 years, which is quite rare and something very few equity markets globally have managed to achieve. That consistency itself speaks to the underlying strength of the Indian market.

As we move into 2026, with earnings growth expected to pick up, we believe the Nifty is well placed to continue delivering positive returns. Importantly, it is not just the headline index. Broader market performance over the last year or so has lagged the Nifty, and we expect a recovery there as well.

As earnings growth improves, uncertainties around trade-related issues reduce, and some of the geopolitical tensions ease, the overall environment should turn more supportive for equities.

Do you think the commercial vehicle segment within the auto space will make a strong comeback next year?

The commercial vehicle segment has not gone through a typical sharp downturn over the last few years. A recovery is clearly underway, and we believe the segment is already in the process of picking up momentum. Over the last few months, we have started to see early green shoots of recovery, both in key lead indicators and in commercial vehicle sales data.

Typically, commercial vehicles tend to act as an early indicator of an economic pickup. Since we expect the broader economy to improve, the commercial vehicle segment should benefit from that trend as well. While the upturn may be relatively shallow, we do expect a recovery to continue, with the last quarter of the current fiscal also shaping up to be supportive for the segment.

Do you see the rupee bottoming out soon?

Foreign portfolio outflows, a slow year for FDI coupled with tariff worries put some pressure on the Rupee. India’s fundamentals, meanwhile, stayed solid, growth held up, inflation was at all-time lows and the current account avoided stress.

It’s possible that next year we may see recovery. We expect a softer dollar, steadier trade post the trade deal, and a return of risk appetite in global portfolio flows. FDI prospects also look good for 2026. With imports slowing and the trade balance improving, the rupee has a stronger foundation for recovery.

Do you expect export-oriented companies to see strong earnings uplift due to rupee depreciation?

Yes, we do believe that export-oriented sectors such as Pharmaceuticals and IT could see an earnings uplift from the Rupee depreciation. Currency movement can provide a near-term tailwind and may result in a near term benefit for these sectors.

However, over the longer term, earnings performance will continue to be driven by the underlying fundamentals of the businesses rather than currency alone. Within this context, we remain constructive on the Pharma sector, where fundamentals are supportive, and we are overweight there. In contrast, the outlook for the IT sector is likely to remain more volatile, driven by policy actions in the US and the growth trajectory of the US and European economies.

Do you see strong opportunities in non-ferrous metals in 2026?

We have been bullish on metals throughout last year. Historically, every rate-cut cycle tends to be accompanied by an uptick in the commodity cycle, as lower rates and expectations around growth provide support to commodity prices. In that context, the recent set of rate cuts by the US Federal Reserve have already started to boost commodity prices, including non-ferrous metals.

A sustained upcycle in non-ferrous metals will continue to depend on the pace of economic activity in developed markets as well as in China. These two regions remain critical drivers for demand. We are therefore closely monitoring how these macro variables evolve.

Overall, we are constructive on non-ferrous metals as a basket and believe they should do well over the next year. However, the extent and durability of the upside will be influenced by how global economic conditions play out.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

The monthly F&O expiry-led volatility can't be ruled out in initial part of the next week.

shorts/business/dalal-street-week-ahead-auto-sales-fomc-minutes-manufacturing-pmi-among-10-key-factors-to-watch

The market snapped three-week losing streak, closing higher for the truncated week ended December 26. Stronger domestic demand, a favourable liquidity outlook, and hope for continuation of Fed policy easing in 2026 supported market sentiment, however, the market could not sustain all its Santa rally gains as there was pressure at higher levels due to limited progress in US–India trade talks and consistent FII outflow.

Meanwhile, gold advanced on safe-haven demand, with futures rising 3.77 percent during the week to end at record closing high of $4,552.7 an ounce while the Brent crude oil futures traded near the lower Bollinger bands, ending 0.28 percent higher at $60.64 a barrel, though experts feel US steps to tighten pressure on Venezuelan oil shipments could exert upward pressure in the near term.

The domestic equity markets are expected to be cautious amid rangebound trading with focus on auto sales, FOMC minutes and manufacturing PMI numbers. The monthly F&amp;O expiry-led volatility can't be ruled out in initial part of the week, experts said.

The Nifty 50 rose 76 points (0.3 percent) for the week to 26,042, and the BSE Sensex gained 112 points (0.13 percent) to 85,041, while the Nifty Midcap 100 index ended flat and the Nifty Smallcap 100 index rallied 1.75 percent.

"Looking ahead, market sentiment is likely to stay cautious as investors brace for the upcoming earnings season while remaining attuned to global developments and currency movements," Vinod Nair, Head of Research at Geojit Investments said.

According to him, key drivers will include progress in India–US trade talks, rupee stability, FII trends, and movements in commodity prices. "With year-end trading volumes expected to remain subdued, price action could be largely contained," he said.

Siddhartha Khemka - Head of Research, Wealth Management at Motilal Oswal Financial Services also expects Indian equities to trade in a narrow range amid lack of triggers, tracking the macro indicators and institutional flows.

Here are 10 key factors to watch out for next week:

FOMC Minutes

The market participants will focus on the minutes of US Federal Reserve monetary policy meeting held on December 9-10. The central bank slashed the federal funds rate by 25 bps to 3.5-3.75 percent range in the said meeting, after the 25-bp reduction each in September and October. Globally, the markets of all asset classes will look for cues with respect to further rate cut path, jobs data, inflation and economic outlook from the minutes.

Global Economic Data

The focus will also be on the US weekly jobs data, and monthly pending home sales numbers.

Apart from this, manufacturing PMI data from the US, Europe, China and other nations will also be watched next week.

<img class="alignnone size-full wp-image-13745678 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2025/12/20251228164020_Image228122025.jpg" alt="Image228122025" width="972" height="481" />

New Fed Chair Announcement

Globally, in the coming weeks, the market will also keep an eye on the appointment of new US Federal Reserve Chair as US President Donald Trump already said he would be declaring the name of new successor to Powell in early 2026. The decision is expected to shape the monetary policy outlook including whether the new chair will continue rate cut path or not.

The term of current Fed Chair Jerome Powell will end in May.

Domestic Economic Data

Back home, the industrial and manufacturing production numbers for November month will be released on December 29, followed by the RBI's market borrowing auctions on December 30.

This follows the fiscal deficit for November and external debt data for September 2025 quarter which scheduled on December 31.

On the final working day of the week i.e. January 2, the focus will be on the manufacturing PMI data for December month, bank loan &amp; deposit growth for fortnight ended December 12, and foreign exchange reserves for week ended December 26.

The preliminary estimates indicated that the manufacturing PMI dropped to 55.7 in December, compared to 56.6 in November.

Auto Sales

Auto stocks - Tata Motor, Tata Motors Passenger Vehicle, Mahindra &amp; Mahindra, Eicher Motors, Ashok Leyland, Maruti Suzuki, Bajaj Auto, Hero MotoCorp, Hyundai Motor India, TVS Motor, Escorts etc - will also be in focus as automobile companies will release their December sales volume numbers in later part of next week.

According to analysts, the growth across segments in December could be in double-digit compared to corresponding month last year. "Sales volumes are likely to be driven by continued positive customer sentiments spurred by better affordability (courtesy GST cuts), new products, interest rate cuts and adequate finance availability despite some pressure on rural sentiments due to a drop in retail crop prices," Nuvama Institutional Equities said.

<a href="https://www.moneycontrol.com/stocks/marketstats/fii_dii_activity/index.php" target="_blank">FII Flow</a>

The focus will also be on the Foreign Institutional Investors (FIIs) mood, though the activity may be low due to new year holiday week with many countries globally celebrating New Year's Day as a public holiday. FIIs were net sellers for the latest week to the tune of Rs 4,291 crore, taking their total net selling to over Rs 24,000 crore in current month, higher than Rs 17,500 crore selling in previous month.

However, Domestic Institutional Investors (DIIs) continued to compensate the FII outflow by wide margin even in the latest week as they net bought more than Rs 12,000 crore worth shares during the week, taking the total net purchases to over Rs 64,000 crore for December, as per provisional data.

Improvement in fundamentals are likely to attract net FII inflows in 2026. Robust GDP growth and prospects of improvement in corporate earnings in 2026 augur well for positive FII flows in 2026, said VK Vijayakumar, Chief Investment Strategist of Geojit Investments.

The sustained selling by FIIs have contributed significantly to the sharp depreciation in rupee which depreciated 0.22 percent for the last week to 89.75 against the US dollar, 0.46 percent for current month, and 4.93 percent for 2025. In previous week, it touched a record low of 91.08.

Meanwhile, the US dollar index remained below 100 mark for the fifth consecutive week, falling 0.67 percent for the latest week to 98.05 and trading below all key moving averages and even the midline of Bollinger bands. It was pressured by market speculation that President Trump may favour appointing a more dovish Federal Reserve Chair. This outlook, viewed as bearish for the greenback.

<a href="https://www.moneycontrol.com/ipo/" target="_blank">IPO Action</a>

The activity at the IPO desk will be muted next week with only one IPO getting launched which is from the SME segment. Gurugram-based diagnostic chain Modern Diagnostic &amp; Research Centre will open its Rs 37 crore Initial Public offering (IPO) on December 31 with price band of Rs 85-90 per share, while E to E Transportation Infrastructure, which provides system integration and engineering solutions for the railway sector, will close its Rs 84-crore public issue on January 2.

Meanwhile, total 11 new companies will be available for trading on the bourses next week with Gujarat Kidney &amp; Super Speciality from the mainboard segment listing on December 30.

In the SME segment, Dachepalli Publishers, Shyam Dhani Industries, Sundrex Oil Company, and EPW India will also list on December 30, while the trading in Dhara Rail Projects, Admach Systems, Nanta Tech, Bai Kakaji Polymers, and Apollo Techno Industries shares will commence on December 31. E to E Transportation Infrastructure will also commence trading next week on January 2.

Technical View

Technically, the Nifty 50 has formed a Gravestone Doji–like pattern on the weekly charts, which is generally considered a bearish reversal pattern; however, the movement in the following week will be watched for confirmation. On the levels front, 26,200–26,250 is expected to be a crucial hurdle zone for the index, as sustaining above it could open the door for the 26,350–26,500 zone. However, falling decisively below the 26,000–25,950 zone could provide support to bears for a downward move toward 25,700, experts said. The momentum and technical indicators suggest a cautious outlook, with confirmation needed from upcoming price action.

F&amp;O Cues

The monthly options data also indicated that the Nifty 50 may trade in the 25,900-26,300 range in the short term.

The maximum Call open interest was seen at the 26,200 strike, followed by the 26,100 and 26,300 strikes, with the maximum Call writing at the 26,100, 26,050 and 26,200 strikes. On the Put side, the 26,000 strike holds the maximum Put open interest, followed by the 25,800 and 25,900 strikes, with the maximum Put writing at the 26,050, 25,950 and 25,900 strikes.

Meanwhile, the India VIX, the fear index, ended at the record closing low of 9.15, down 3.91 percent for the week, giving comfort for bulls and also signalling the possibility of sharp market move.

Corporate Action

Here are key corporate actions taking place in the coming week:

<img class="alignnone size-full wp-image-13745679 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2025/12/20251228164139_Image128122025.jpg" alt="Image128122025" width="960" height="231" />

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

Dalal Street week ahead: Auto sales, FOMC minutes, manufacturing PMI among 10 key factors to watch

The market snapped three-week losing streak, closing higher for the truncated week ended December 26. Stronger domestic demand, a favourable liquidity outlook, and hope for continuation of Fed policy easing in 2026 supported market sentiment, however, the market could not sustain all its Santa rally gains as there was pressure at higher levels due to limited progress in US–India trade talks and consistent FII outflow.

Meanwhile, gold advanced on safe-haven demand, with futures rising 3.77 percent during the week to end at record closing high of $4,552.7 an ounce while the Brent crude oil futures traded near the lower Bollinger bands, ending 0.28 percent higher at $60.64 a barrel, though experts feel US steps to tighten pressure on Venezuelan oil shipments could exert upward pressure in the near term.

The domestic equity markets are expected to be cautious amid rangebound trading with focus on auto sales, FOMC minutes and manufacturing PMI numbers. The monthly F&amp;amp;O expiry-led volatility can't be ruled out in initial part of the week, experts said.

The Nifty 50 rose 76 points (0.3 percent) for the week to 26,042, and the BSE Sensex gained 112 points (0.13 percent) to 85,041, while the Nifty Midcap 100 index ended flat and the Nifty Smallcap 100 index rallied 1.75 percent.

&quot;Looking ahead, market sentiment is likely to stay cautious as investors brace for the upcoming earnings season while remaining attuned to global developments and currency movements,&quot; Vinod Nair, Head of Research at Geojit Investments said.

According to him, key drivers will include progress in India–US trade talks, rupee stability, FII trends, and movements in commodity prices. &quot;With year-end trading volumes expected to remain subdued, price action could be largely contained,&quot; he said.

Siddhartha Khemka - Head of Research, Wealth Management at Motilal Oswal Financial Services also expects Indian equities to trade in a narrow range amid lack of triggers, tracking the macro indicators and institutional flows.

Here are 10 key factors to watch out for next week:

FOMC Minutes

The market participants will focus on the minutes of US Federal Reserve monetary policy meeting held on December 9-10. The central bank slashed the federal funds rate by 25 bps to 3.5-3.75 percent range in the said meeting, after the 25-bp reduction each in September and October. Globally, the markets of all asset classes will look for cues with respect to further rate cut path, jobs data, inflation and economic outlook from the minutes.

Global Economic Data

The focus will also be on the US weekly jobs data, and monthly pending home sales numbers.

Apart from this, manufacturing PMI data from the US, Europe, China and other nations will also be watched next week.



New Fed Chair Announcement

Globally, in the coming weeks, the market will also keep an eye on the appointment of new US Federal Reserve Chair as US President Donald Trump already said he would be declaring the name of new successor to Powell in early 2026. The decision is expected to shape the monetary policy outlook including whether the new chair will continue rate cut path or not.

The term of current Fed Chair Jerome Powell will end in May.

Domestic Economic Data

Back home, the industrial and manufacturing production numbers for November month will be released on December 29, followed by the RBI's market borrowing auctions on December 30.

This follows the fiscal deficit for November and external debt data for September 2025 quarter which scheduled on December 31.

On the final working day of the week i.e. January 2, the focus will be on the manufacturing PMI data for December month, bank loan &amp;amp; deposit growth for fortnight ended December 12, and foreign exchange reserves for week ended December 26.

The preliminary estimates indicated that the manufacturing PMI dropped to 55.7 in December, compared to 56.6 in November.

Auto Sales

Auto stocks - Tata Motor, Tata Motors Passenger Vehicle, Mahindra &amp;amp; Mahindra, Eicher Motors, Ashok Leyland, Maruti Suzuki, Bajaj Auto, Hero MotoCorp, Hyundai Motor India, TVS Motor, Escorts etc - will also be in focus as automobile companies will release their December sales volume numbers in later part of next week.

According to analysts, the growth across segments in December could be in double-digit compared to corresponding month last year. &quot;Sales volumes are likely to be driven by continued positive customer sentiments spurred by better affordability (courtesy GST cuts), new products, interest rate cuts and adequate finance availability despite some pressure on rural sentiments due to a drop in retail crop prices,&quot; Nuvama Institutional Equities said.

FII Flow

The focus will also be on the Foreign Institutional Investors (FIIs) mood, though the activity may be low due to new year holiday week with many countries globally celebrating New Year's Day as a public holiday. FIIs were net sellers for the latest week to the tune of Rs 4,291 crore, taking their total net selling to over Rs 24,000 crore in current month, higher than Rs 17,500 crore selling in previous month.

However, Domestic Institutional Investors (DIIs) continued to compensate the FII outflow by wide margin even in the latest week as they net bought more than Rs 12,000 crore worth shares during the week, taking the total net purchases to over Rs 64,000 crore for December, as per provisional data.

Improvement in fundamentals are likely to attract net FII inflows in 2026. Robust GDP growth and prospects of improvement in corporate earnings in 2026 augur well for positive FII flows in 2026, said VK Vijayakumar, Chief Investment Strategist of Geojit Investments.

The sustained selling by FIIs have contributed significantly to the sharp depreciation in rupee which depreciated 0.22 percent for the last week to 89.75 against the US dollar, 0.46 percent for current month, and 4.93 percent for 2025. In previous week, it touched a record low of 91.08.

Meanwhile, the US dollar index remained below 100 mark for the fifth consecutive week, falling 0.67 percent for the latest week to 98.05 and trading below all key moving averages and even the midline of Bollinger bands. It was pressured by market speculation that President Trump may favour appointing a more dovish Federal Reserve Chair. This outlook, viewed as bearish for the greenback.

IPO Action

The activity at the IPO desk will be muted next week with only one IPO getting launched which is from the SME segment. Gurugram-based diagnostic chain Modern Diagnostic &amp;amp; Research Centre will open its Rs 37 crore Initial Public offering (IPO) on December 31 with price band of Rs 85-90 per share, while E to E Transportation Infrastructure, which provides system integration and engineering solutions for the railway sector, will close its Rs 84-crore public issue on January 2.

Meanwhile, total 11 new companies will be available for trading on the bourses next week with Gujarat Kidney &amp;amp; Super Speciality from the mainboard segment listing on December 30.

In the SME segment, Dachepalli Publishers, Shyam Dhani Industries, Sundrex Oil Company, and EPW India will also list on December 30, while the trading in Dhara Rail Projects, Admach Systems, Nanta Tech, Bai Kakaji Polymers, and Apollo Techno Industries shares will commence on December 31. E to E Transportation Infrastructure will also commence trading next week on January 2.

Technical View

Technically, the Nifty 50 has formed a Gravestone Doji–like pattern on the weekly charts, which is generally considered a bearish reversal pattern; however, the movement in the following week will be watched for confirmation. On the levels front, 26,200–26,250 is expected to be a crucial hurdle zone for the index, as sustaining above it could open the door for the 26,350–26,500 zone. However, falling decisively below the 26,000–25,950 zone could provide support to bears for a downward move toward 25,700, experts said. The momentum and technical indicators suggest a cautious outlook, with confirmation needed from upcoming price action.

F&amp;amp;O Cues

The monthly options data also indicated that the Nifty 50 may trade in the 25,900-26,300 range in the short term.

The maximum Call open interest was seen at the 26,200 strike, followed by the 26,100 and 26,300 strikes, with the maximum Call writing at the 26,100, 26,050 and 26,200 strikes. On the Put side, the 26,000 strike holds the maximum Put open interest, followed by the 25,800 and 25,900 strikes, with the maximum Put writing at the 26,050, 25,950 and 25,900 strikes.

Meanwhile, the India VIX, the fear index, ended at the record closing low of 9.15, down 3.91 percent for the week, giving comfort for bulls and also signalling the possibility of sharp market move.

Corporate Action

Here are key corporate actions taking place in the coming week:



Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

Sensex Today | Stock Market LIVE Updates: On the sectoral front, metal index up 1 percent. BSE Midcap and Smallcap indices are trading flat. Hindalco, Asian Paints, Tech Mahindra, Tata Steel, NTPC were among major gainers on the Nifty, while losers were Reliance Industries, Bajaj Finserv, Axis Bank, Bajaj Finance, Tata Consumer.

Stock Market LIVE Updates: Sensex, Nifty flat amid volatility; metals shine, India VIX up 3%

Live Blog

Sensex Today | Stock Market LIVE Updates: On the sectoral front, metal index up 1 percent. BSE Midcap and Smallcap indices are trading flat. Hindalco, Asian Paints, Tech Mahindra, Tata Steel, NTPC were among major gainers on the Nifty, while losers were Reliance Industries, Bajaj Finserv, Axis Bank, Bajaj Finance, Tata Consumer.

If the Bank Nifty fails to defend Friday’s low (58,950), the 58,800–58,700 levels will be key to watch; however, holding above it could drive the banking index toward the 59,100–59,300 zone, experts said.

shorts/business/trading-plan-can-nifty-50-defend-short-term-moving-averages-bank-nifty-sustain-above-friday-s-low

The Nifty 50 defended the 26,000 level (which somewhat coincides with the midline of the Bollinger Bands and the 10- and 20-day EMAs), closing within the bullish gap of December 22. Momentum indicators suggest some caution. The index may consolidate as long as it trades below 26,250, with immediate support at 26,000–25,950, followed by 25,800 being key support, while a decisive move above this level could push the index toward 26,350–26,500. Meanwhile, if the Bank Nifty fails to defend Friday’s low (58,950), the 58,800–58,700 levels will be key to watch; however, holding above it could drive the banking index toward the 59,100–59,300 zone, experts said.

On December 26, the Nifty 50 slipped 100 points (0.38 percent) to 26,042, while the Bank Nifty declined 172 points (0.3 percent) to 59,011. Bears maintained control over market breadth, with 1,763 shares under pressure against 1,106 shares that gained on the NSE.

Nifty Outlook and Strategy

Rajesh Bhosale, Technical Analyst at Angel One

Overall, it was a subdued week (ended December 26), with traders and investors appearing to be in a holiday mood. On the weekly chart, Nifty formed a neutral Doji candlestick, highlighting indecision at higher levels. As we step into a crucial week that marks both the close of the calendar year and the beginning of a new one, we expect consolidation to persist unless a decisive breakout emerges from the current range.

That said, the broader undertone remains tilted toward the bullish side, as prices continue to trade above key moving averages. Additionally, a fresh bullish crossover in the smoothened RSI near the 50 mark lends support to the positive bias. On the intraday hourly chart as well, prices continue to maintain a higher-top, higher-bottom structure.

In such an environment, traders are advised to avoid getting swayed by short-term noise and instead adopt a buy-on-dips approach while booking profits at higher levels. On the downside, immediate support is placed around 25,900, while 25,700 remains a sacrosanct level for the near-term trend. On the upside, the 26,250–26,350 zone stands out as a key hurdle, beyond which Nifty could see a fresh leg of momentum into uncharted territory.

(Spot)
Key Resistance: 26,250, 26,350

Key Support: 25,900, 25,700

Strategy: Buy Nifty Futures on dips around 26,000, with a stop-loss at 25,800, targeting 26,500–26,700.

Rajesh Palviya, Senior Vice President Research (Head Technical Derivatives) at Axis Securities

The Nifty closed with a modest weekly gain of 76 points. The weekly chart shows that Nifty formed a Doji candlestick, indicating clear indecision among market participants regarding its near-term direction. The index found support near the lower band of a rising channel that has been intact since March 2025.

For bullish sentiment to regain momentum and push toward a retest of the all-time high, a sustained close above 26,200 is essential. On the other hand, a decisive drop below 25,700 could lead to increased downward pressure. A sustained move above 26,200 may attract fresh buying interest, potentially pushing the index toward the 26,350–26,500 range. Conversely, if Nifty breaks down below 25,800, selling pressure could drive it down toward 25,700–25,500.

Additionally, the weekly RSI has flattened, suggesting a lack of clear strength in the index. For the current week, Nifty is expected to trade within a range of 25,500 to 26,500, with a mixed bias.

Key Resistance: 26,100, 26,200

Key Support: 25,950, 25,800

Strategy: Buy Nifty Futures around 25,950, with a stop-loss at 25,800, targeting 26,150–26,200.

Anshul Jain, Head of Research at Lakshmishree Investments

Nifty ended the week with a shooting star on the weekly chart, decisively negating the bullish lower-wick structure formed over the prior two weeks. This reversal candle at higher levels raises concerns for bulls, as it reflects rejection near the upper end of the recent range. The inability to sustain above the highs signals supply dominance and a potential shift in the weekly swing structure.

A follow-through below the current week’s low near 26,000 would confirm bearish intent and open the downside toward the previous weekly swing low around 25,693. On the upside, rebounds toward the midpoint of the weekly candle near 26,150 are likely to attract heavy supply, making such moves vulnerable to fresh short initiation.

Momentum indicators are rolling over from neutral zones, reinforcing the risk of continuation lower. For any meaningful reversal, the index must reclaim and close above 26,200 on a weekly basis to neutralise the bearish setup.

Key Resistance: 26,150, 26,200

Key Support: 26,000, 25,950

Strategy: Sell Nifty Futures on rallies to 26,150, with a stop-loss above 26,200, targeting 26,000.

Bank Nifty - Outlook and Positioning

Rajesh Bhosale, Technical Analyst at Angel One

No significant change was observed in the technical structure of the heavyweight index, as prices remained confined within a sideways trading range despite a positive start to the week. Looking ahead, the outlook remains constructive for the Bank Nifty and aligned with a potential resumption of the primary uptrend once prices decisively break above the immediate resistance at 59,500.

Until then, the ongoing consolidation is likely to persist as long as the strong support zone of 58,800–58,700 continues to hold. However, a breakdown below this zone could trigger further weakness in the near term, opening the door for a possible test of the 50 DEMA in the 58,500–58,400 band.

Participants should closely monitor a breakout beyond the mentioned levels for an uptick in momentum. In terms of levels, the 59,750–59,800 band remains a strong resistance zone, while the 58,500–58,400 region continues to act as a crucial support cluster.

(Spot)
Key Resistance: 59,500, 59,800

Key Support: 58,800, 58,500

Strategy: Buy Bank Nifty Futures on a breakout above around 59,500, with a stop-loss at 58,900, targeting 60,600–60,800.

Rajesh Palviya, Senior Vice President Research (Head Technical Derivatives) at Axis Securities

Bank Nifty closed the week with a loss of 58 points. On the weekly chart, it formed a small bearish candle and remained within the previous week’s high-low range, signaling indecision at current levels.

The index is currently above the earlier resistance zone of 58,600, which has now turned into support, in line with the principle of polarity. However, a decisive close below this level could lead to further downside. From a technical perspective, a sustained move above 59,500 may prompt fresh buying, potentially pushing Bank Nifty toward 59,700–60,200. On the downside, a break below 58,650 could result in selling pressure, dragging the index down toward 58,500–58,000.

Additionally, the weekly RSI has flattened, indicating a lack of strength. For the coming week, Bank Nifty is expected to trade within the 58,000–60,200 range with a mixed bias.

Key Resistance: 59,200, 59,400

Key Support: 58,850, 58,700

Strategy: Sell Bank Nifty Futures around 59,150, with a stop-loss at 59,300, targeting 58,800–58,700.

Anshul Jain, Head of Research at Lakshmishree Investments

Bank Nifty ended the week with an inside bar, reflecting relative strength versus Nifty, but the close near the lower end of the weekly range keeps the undertone cautious. This price compression signals balance, yet the location of the close tilts risk marginally in favour of bears.

Directional clarity will emerge only on a breach of the mother candle extremes placed between 59,533 and 58,712.7. A decisive move and sustained trade below 58,700 would confirm liquidation pressure, exposing the index to a sharper decline toward the next weekly demand pocket. On the upside, rallies into the 59,100–59,300 supply zone are likely to face rejection, as this area coincides with prior breakdown levels and short-term moving average congestion.

Momentum indicators remain subdued, suggesting expansion is imminent. Until a breakout occurs, failed pullbacks and rejection from overhead supply should be viewed as opportunities to initiate fresh shorts within the broader consolidation structure.

Key Resistance: 59,100, 59,300, 59,533

Key Support: 58,700, 58,200

Strategy: Sell Bank Nifty Futures on rallies to the 59,100–59,300 zone, with a stop-loss above 59,533, targeting 58,700.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

Trading Plan: Can Nifty 50 defend short term moving averages, Bank Nifty sustain above Friday’s low?

The Nifty 50 defended the 26,000 level (which somewhat coincides with the midline of the Bollinger Bands and the 10- and 20-day EMAs), closing within the bullish gap of December 22. Momentum indicators suggest some caution. The index may consolidate as long as it trades below 26,250, with immediate support at 26,000–25,950, followed by 25,800 being key support, while a decisive move above this level could push the index toward 26,350–26,500. Meanwhile, if the Bank Nifty fails to defend Friday’s low (58,950), the 58,800–58,700 levels will be key to watch; however, holding above it could drive the banking index toward the 59,100–59,300 zone, experts said.

On December 26, the Nifty 50 slipped 100 points (0.38 percent) to 26,042, while the Bank Nifty declined 172 points (0.3 percent) to 59,011. Bears maintained control over market breadth, with 1,763 shares under pressure against 1,106 shares that gained on the NSE.

Nifty Outlook and Strategy

Rajesh Bhosale, Technical Analyst at Angel One

Overall, it was a subdued week (ended December 26), with traders and investors appearing to be in a holiday mood. On the weekly chart, Nifty formed a neutral Doji candlestick, highlighting indecision at higher levels. As we step into a crucial week that marks both the close of the calendar year and the beginning of a new one, we expect consolidation to persist unless a decisive breakout emerges from the current range.

That said, the broader undertone remains tilted toward the bullish side, as prices continue to trade above key moving averages. Additionally, a fresh bullish crossover in the smoothened RSI near the 50 mark lends support to the positive bias. On the intraday hourly chart as well, prices continue to maintain a higher-top, higher-bottom structure.

In such an environment, traders are advised to avoid getting swayed by short-term noise and instead adopt a buy-on-dips approach while booking profits at higher levels. On the downside, immediate support is placed around 25,900, while 25,700 remains a sacrosanct level for the near-term trend. On the upside, the 26,250–26,350 zone stands out as a key hurdle, beyond which Nifty could see a fresh leg of momentum into uncharted territory.

(Spot)
Key Resistance: 26,250, 26,350

Key Support: 25,900, 25,700

Strategy: Buy Nifty Futures on dips around 26,000, with a stop-loss at 25,800, targeting 26,500–26,700.

Rajesh Palviya, Senior Vice President Research (Head Technical Derivatives) at Axis Securities

The Nifty closed with a modest weekly gain of 76 points. The weekly chart shows that Nifty formed a Doji candlestick, indicating clear indecision among market participants regarding its near-term direction. The index found support near the lower band of a rising channel that has been intact since March 2025.

For bullish sentiment to regain momentum and push toward a retest of the all-time high, a sustained close above 26,200 is essential. On the other hand, a decisive drop below 25,700 could lead to increased downward pressure. A sustained move above 26,200 may attract fresh buying interest, potentially pushing the index toward the 26,350–26,500 range. Conversely, if Nifty breaks down below 25,800, selling pressure could drive it down toward 25,700–25,500.

Additionally, the weekly RSI has flattened, suggesting a lack of clear strength in the index. For the current week, Nifty is expected to trade within a range of 25,500 to 26,500, with a mixed bias.

Key Resistance: 26,100, 26,200

Key Support: 25,950, 25,800

Strategy: Buy Nifty Futures around 25,950, with a stop-loss at 25,800, targeting 26,150–26,200.

Anshul Jain, Head of Research at Lakshmishree Investments

Nifty ended the week with a shooting star on the weekly chart, decisively negating the bullish lower-wick structure formed over the prior two weeks. This reversal candle at higher levels raises concerns for bulls, as it reflects rejection near the upper end of the recent range. The inability to sustain above the highs signals supply dominance and a potential shift in the weekly swing structure.

A follow-through below the current week’s low near 26,000 would confirm bearish intent and open the downside toward the previous weekly swing low around 25,693. On the upside, rebounds toward the midpoint of the weekly candle near 26,150 are likely to attract heavy supply, making such moves vulnerable to fresh short initiation.

Momentum indicators are rolling over from neutral zones, reinforcing the risk of continuation lower. For any meaningful reversal, the index must reclaim and close above 26,200 on a weekly basis to neutralise the bearish setup.

Key Resistance: 26,150, 26,200

Key Support: 26,000, 25,950

Strategy: Sell Nifty Futures on rallies to 26,150, with a stop-loss above 26,200, targeting 26,000.

Bank Nifty - Outlook and Positioning

Rajesh Bhosale, Technical Analyst at Angel One

No significant change was observed in the technical structure of the heavyweight index, as prices remained confined within a sideways trading range despite a positive start to the week. Looking ahead, the outlook remains constructive for the Bank Nifty and aligned with a potential resumption of the primary uptrend once prices decisively break above the immediate resistance at 59,500.

Until then, the ongoing consolidation is likely to persist as long as the strong support zone of 58,800–58,700 continues to hold. However, a breakdown below this zone could trigger further weakness in the near term, opening the door for a possible test of the 50 DEMA in the 58,500–58,400 band.

Participants should closely monitor a breakout beyond the mentioned levels for an uptick in momentum. In terms of levels, the 59,750–59,800 band remains a strong resistance zone, while the 58,500–58,400 region continues to act as a crucial support cluster.

(Spot)
Key Resistance: 59,500, 59,800

Key Support: 58,800, 58,500

Strategy: Buy Bank Nifty Futures on a breakout above around 59,500, with a stop-loss at 58,900, targeting 60,600–60,800.

Rajesh Palviya, Senior Vice President Research (Head Technical Derivatives) at Axis Securities

Bank Nifty closed the week with a loss of 58 points. On the weekly chart, it formed a small bearish candle and remained within the previous week’s high-low range, signaling indecision at current levels.

The index is currently above the earlier resistance zone of 58,600, which has now turned into support, in line with the principle of polarity. However, a decisive close below this level could lead to further downside. From a technical perspective, a sustained move above 59,500 may prompt fresh buying, potentially pushing Bank Nifty toward 59,700–60,200. On the downside, a break below 58,650 could result in selling pressure, dragging the index down toward 58,500–58,000.

Additionally, the weekly RSI has flattened, indicating a lack of strength. For the coming week, Bank Nifty is expected to trade within the 58,000–60,200 range with a mixed bias.

Key Resistance: 59,200, 59,400

Key Support: 58,850, 58,700

Strategy: Sell Bank Nifty Futures around 59,150, with a stop-loss at 59,300, targeting 58,800–58,700.

Anshul Jain, Head of Research at Lakshmishree Investments

Bank Nifty ended the week with an inside bar, reflecting relative strength versus Nifty, but the close near the lower end of the weekly range keeps the undertone cautious. This price compression signals balance, yet the location of the close tilts risk marginally in favour of bears.

Directional clarity will emerge only on a breach of the mother candle extremes placed between 59,533 and 58,712.7. A decisive move and sustained trade below 58,700 would confirm liquidation pressure, exposing the index to a sharper decline toward the next weekly demand pocket. On the upside, rallies into the 59,100–59,300 supply zone are likely to face rejection, as this area coincides with prior breakdown levels and short-term moving average congestion.

Momentum indicators remain subdued, suggesting expansion is imminent. Until a breakout occurs, failed pullbacks and rejection from overhead supply should be viewed as opportunities to initiate fresh shorts within the broader consolidation structure.

Key Resistance: 59,100, 59,300, 59,533

Key Support: 58,700, 58,200

Strategy: Sell Bank Nifty Futures on rallies to the 59,100–59,300 zone, with a stop-loss above 59,533, targeting 58,700.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

10 out of 17 years NIFTY MIDCAP 50 has given positive returns in December.

Type	R1	R2	R3	PP	S1	S2	S3
Classic	17,285.65	17,388.00	17,448.50	17,225.15	17,122.80	17,062.30	16,959.95
Fibonacci	17,287.36	17,325.79	17,388.00	17,225.15	17,162.94	17,124.51	17,062.30
Camarilla	17,198.23	17,213.16	17,228.08	17,225.15	17,168.37	17,153.44	17,138.52

INDEX CONTRIBUTION - NIFTY MIDCAP 50

Net Contribution

MC TechnicalsPRO

Pivot levels

Seasonality analysis

News

Moving Averages
Technical Indicators
Moving Averages Crossovers