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Dec 26, 2019 03:41 PM IST | Source: Moneycontrol.com

Closing Bell: Nifty ends December series below 12,150

The Sensex ended December 26 down 297.50 points, or 0.72%, at 41163.76 and the Nifty ended 88 points, or 0.72%, lower at 12,126.50.

  • December 26, 2019 06:48 PM IST

  • December 26, 2019 04:28 PM IST

    Gaurav Ratnaparkhi, Senior Technical Analyst, Sharekhan by BNP Paribas:

    The Nifty opened on flat note today however succumbed to the selling pressure in a gradual manner. As a result the index traded with a bearish bias throughout the day & ultimately closed near the low for the day. On the way down the index breached the near term support zone of 12,210-12,200. The hourly Bollinger Bands are expanding sharply after a significant contraction. Thus the correction is likely to get deeper. The Nifty can come down to test the key psychological mark of 12,000. In terms of the price pattern, a broadening formation looks underway in Nifty & the index has started sliding down from the upper end of the pattern. The broader market indices are also at the tipping point from short term perspective.

  • December 26, 2019 04:19 PM IST

    Rohit Singre, Senior Technical Analyst at LKP Securities:

    Index expired December series at 12,127 with loss of 0.20 percent on expiry to expiry basis and formed a doji candle pattern on expiry chart hinting indecision in the markets. If we look at January series data it suggest highest open interest is standing in 12k PE followed by 11500 PE and on higher side highest open interest is at 12200 CE followed by 12500 CE zone hinting immediate range for January series is coming in between 12000-12200 zone and overall range is coming in between 11500-12500 zone.

  • December 26, 2019 04:15 PM IST

    Ajit Mishra, VP - Research, Religare Broking:

    Markets lost over half a percent on the F&O expiry day, mainly due to profit-taking in select index majors. After a flat start, the benchmark indices inched gradually lower the day progressed and finally settled around the day’s low. In line with the index, mostly sectoral indices ended in red while a mixed trend was witnessed on the broader front.
     
    The recent decline is largely on the expected lines and it’s healthy for the markets. Nifty has immediate support at 12,100 and we may see a rebound from that zone in the index. Stocks, on the other hand, are witnessing movement on both sides thus traders should focus more on stock selection.

  • December 26, 2019 03:52 PM IST

    Rahul Mishra, AVP (Derivatives), Emkay Global Financial Services:

    Nifty started last month of the year on subdued note and went below 20DMA level but from 2nd week onwards we saw upward momentum with Nifty closing at record high level for 4 consecutive days. However, we are seeing continuous supply around 12,300 levels. Street is positive on the government’s action to support economy, positive global cues and FII net cash inflow during the month are the factors that provided support to market in spite of economic slowdown.

    Three stocks are going out of derivative segment from December expiry are Hexaware, Tata Elxsi and Union Bank; four more stocks will be going out after January expiry are Castrol, Dish TV, NBCC and Tata Motors DVR. FIIs net position in Index future has turned positive during the month, where they were net short for last 5-6 months. In Single stock future FIIs continued to be net long with current net position at highest level. Option concentration suggest that Nifty to remain in a range of 12,000 to 12,500 level for January month, however, 12,200 Call also holds decent open interest making it near term resistance.

  • December 26, 2019 03:43 PM IST

    Shabbir Kayyumi, Head of Technical Research, Narnolia Financial Advisors:

    The benchmark index opened higher but could not sustain above 12,200 levels and traded lower through out the day forming a long body bearish candlestick pattern. Although Nifty is has closed below 12,150 marks, it has the strong support of line of parity and 20 DMA near 12,080 zone and the possibility of prices reversal cannot be ruled out, whereas index trading above 5 DMA placed around 12,210 will confirm the continuation of bullish move.

  • December 26, 2019 03:34 PM IST

    Market close: Indian indices ended lower for the third consecutive day on December 26 with Nifty finished below 12,150.

    At close, the Sensex was down 297.50 points or 0.72% at 41163.76, while Nifty was down 88 points or 0.72% at 12,126.50. About 1312 shares have advanced, 1179 shares declined, and 172 shares are unchanged. 

    Yes Bank, Bharti Airtel, Reliance Industries, Adani Ports and Sun Pharma were the top losers on the Nifty, while gainers were ONGC, Vedanta, NTPC, Bajaj Finance and JSW Steel.

    On sectoral front, except metal all other indices ended lower led by the PSU bank, infra, pharma, IT and energy.

  • December 26, 2019 03:20 PM IST

    Nifty in 2020 is expected to trade between a broader range of 11,300 on lower side and 13,300 on the higher side; based on rising channel pattern that has been unfolding over the past six years, said Shabbir Kayyumi of Narnolia Financial Advisors.

  • December 26, 2019 03:14 PM IST

    PSU Bank index underperform:

      PSU Bank index underperform:
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