A morning walk down Dalal Street | Rally may not stretch further without pause or consolidation

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26 Aug, 2025 12:21

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What a day for Indian markets! Bulls which were on the back foot in morning trade reversed losses in the second half of the trading session which helped Nifty to reclaim 10900 levels.

According to experts, Prime Minister Narendra Modi’s statement gave a boost to D-Street which suggested that his government wants to ensure that 99 percent of items will attract sub-18 percent GST slab.

Investor to closely track the outcome of FOMC on 19th Dec followed by Bank of Japan Monetary policy on 20th December.

The final tally on D-Street – the S&P BSE Sensex rose 77 points to close at 36,347 while the Nifty50 ended 20 points higher at 10,909.

OMC stocks extend gains on global supply concerns while technology stocks saw profit booking as rupee hits a 1-week high.

The Nifty Midcap and Smallcap were up 0.4 percent and 0.7 percent, respectively.

The advance-decline ratio was in favor of advances. Of the 2,062 stocks traded on the NSE, 965 advanced, 755 declined, and 342 remained unchanged.

The Indian rupee on December 18 rallied by a whopping 112 paise, its best single-day gains in over five years, to settle at 70.44 against the US dollar as softening crude oil prices eased concerns over India's current account deficit expansion.

On the institutional front, FPI were net buyers in India markets for Rs 144 crore while DIIs were net sellers to the tune of Rs 182 crore, according to provisional data.

Good news for traders! NSE gets SEBI's nod to launch weekly options on Nifty 50 index

Leading bourse NSE on December 18 said it has received markets regulator SEBI's approval to launch weekly options on Nifty 50 index, a move that will provide hedging tool to market participants to manage the portfolio risk more effectively.

The National Stock Exchange (NSE) said it is currently evaluating the readiness of market participants for the product launch and will announce a launch date shortly.

The Nifty 50 weekly options will have seven consecutive weekly expiry contracts (excluding the week where monthly contracts expire).

On expiry of a weekly contract, the exchange will introduce the next weekly contract on a rolling basis. The existing three monthly options contracts, three quarterly and eight semi-annual option contracts will also continue to be available.

Nifty forms a bullish candle on the daily charts

The current rally is into its sixth session and the index has now reached overbought levels. Experts feel that the rally may not stretch further on the upsides beyond a point without a pause or some bit of consolidation

This can be the right opportunity for the bulls to take profits in the next session if Nifty opens around 10,950 kind of levels, they say.

Three levels: 10819, 10950, 11000

Max Call OI: 11000, 10900

Max Put OI: 10000, 10800

Private sector lender Yes Bank on December 18 sold more than 2 percent stake of Fortis Healthcare in open market transactions. It had earlier sold 11,239,035 equity shares (representing 2.17 percent of total paid-up equity) of Fortis Healthcare in various tranches on March 15.

IT & Pharma stocks will be in focus again as rupee logged its best day in over 5 years. The 112 paise ascent marked the best day for the rupee since September 19, 2013, when it had surged by 161 paise against the US dollar.

We spoke to SMC Global Securities and here’s what they have to recommend:

Capital First Limited: Buy| Target: Rs 612| Stop Loss: Rs 520| Return 10%

United Spirits Limited: Buy| Target: Rs 710| Stop Loss: Rs 600| Return 10%

Exide Industries Limited: Buy| Target: Rs 281| Stop Loss: Rs 240| Return 10%

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