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Nifty Prediction For Today By Experts, 30 December: Indian stock market indices closed lower on Monday (December 29) due to profit booking amid thin year-end
trading. The Nifty 50 index opened on a positive note but failed to sustain early gains and closed below 26,000, registering its third day of decline. The index settled at 25,942.10, down 100.20 points or 0.38 per cent. During the day, the index dropped to a low of 25,920.30 and made a high of 26,106.80. Likewise, the BSE Sensex extended the downtrend to the fourth day running and closed with a cut of 345.91 points or 0.41 per cent at 84,695.54. Sectoral performance largely mirrored the benchmark, with most indices closing in the red. Nifty IT, Realty and Auto were among the top laggards. The Nifty Bank index slipped 79 points or 0.13 per cent to finish at 58,932.35. The broader markets also resembled the weakness of benchmarks, with Nifty Midcap 100 cracking 0.52 per cent and Nifty Smallcap 100 falling 0.72 per cent. Volatility picked up with India VIX rising by 6.23 per cent to sit at 9.7, indicating a slight increase in uncertainty among the traders.
Top Gainers, Loser Nifty 50
In the Nifty 50 pack, only 17 stocks gained while the remaining 33 declined. Tata Steel, Tata Consumer Products, Asian Paints and Grasim Industries gained more than 1 per cent each to emerge as top gainers. Nestle India, NTPC, HUL, Eternal, Bajaj Auto, Axis Bank and IndiGo were other top performers.
In contract, Adani Ports fell more than 2 per cent, followed by HCL Tech, Power Grid, Trent, Adani Enterprises, BEL, Max Health, Bharti Airtel, Jio Financial Services and Apollo Hospitals -- each down in the range of 1 to 2 per cent. Cipla, Hindalco, Reliance Industries, M&M, Wipro, TCS, Shriram Finance, Infosys and Eicher Motors were other major losers in the trade.
FII, DII Activity On Monday
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,759.89 crore on Monday, while Domestic Institutional Investors (DIIs) bought stocks worth Rs 2,643.85 crore, according to exchange data.
Vinod Nair, Head of Research, Geojit Investments Limited, said that market could consolidate in the near term. While the outlook for 2026 remains constructive, attention is expected to shift toward upcoming Q3 earnings and clarity on the US trade deal.
"In an environment of global trade anxiety and a weakening rupee, investors are likely to favour large-cap stocks for their relative safety and stronger earnings visibility," he said.
Nifty Support And Resistance Today (Monthly Expiry)
Nifty's trading volumes remained light on Monday, with participants preferring selective exposure rather than broad-based positions in the absence of any major triggers.
Ajit Mishra – SVP, Research, Religare Broking, said that Nifty will likely consolidate on Tuesday though the monthly expiry session may lead to some intraday volatility. "Traders should stay selective and focus on sectors showing higher strength," he said.
According to Nandish Shah, Deputy Vice President, HDFC Securities, the short term trend of the Nifty has turned weak as it closed below its 20-day EMA placed at 25,993. However, the index continues to trade above its 50 DEMA support at 25,832 and is still maintaining a higher-top, higher-bottom pattern on the daily chart, keeping the broader trend positive.
"A sustained move below 25,726 will invalidate this bullish structure. On the upside, 26,100 to 26,150 zone is likely to act as a near-term resistance band," the analyst said.
Rupak De, Senior Technical Analyst at LKP Securities, said that Nifty has moved below the 21 EMA and retraced more than 50% of the previous rise, casting doubt over the sustainability of the recent rally. On the downside, Nifty has support placed at 25,900, while on the upside, 26,000 will act as immediate resistance.
Nifty 50 Chart Candlestick
On the daily chart, Nifty has formed a long bear candle which is indicating a downward correction in the market over the last 3-4 sessions.
Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, said that the bullish chart formation like higher tops and bottoms on the daily chart since mid part of this month and present weakness could be in line with the new higher bottom formation. However, the new higher bottom reversal pattern needs to be confirmed.
"The short term trend of the market continues to be weak amidst choppy movement. Nifty is expected to find support around 25850-25800 levels in the short term before bouncing back again from the lows. Nifty has immediate resistance placed at 26100," the market expert said.
Nifty OI Data, PCR, RSI
Nifty Call writers added fresh positions at at-the-money and nearby strikes. Nearly 2.30 crore Call contracts were added at 26,000 strike while around 1.13 crore Put contracts were accumulated at 25,900 strike.
Nifty's Put-Call Ratio (PCR) has slipped to 0.56, reflecting cautious sentiment. Nifty's daily RSI has slipped to around 49, moving below the neutral mark and highlighting waning strength.
Amruta Shinde, Technical & Derivative Analyst at Choice Equity Broking, said that Nifty will try find support around 25,900. The expert said that a sustained close back above 26,000 will be required to revive bullish momentum in the market, while failure to reclaim may lead to more consolidation-to-corrective phase in the short-term.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)
