Nifty call: Nifty 50 December Futures (12,203)

Akhil Nallamuthu, BL Research Bureau | Updated on December 26, 2019 Published on December 26, 2019

The Nifty spot and the Sensex spot index are trading marginally lower. Both the indices are down by nearly 0.2 per cent each and are exhibiting bearish bias. The market breadth of the Nifty 50 index is showing bearish bias as the advance-decline ratio is at 21-29.

Among the sectoral indices, the Nifty metal index is the top gainer, up by 1 per cent whereas the Nifty PSU bank index is the top loser, down by 0.75 per cent so far in today’s session. But the volatility is lower today as indicated by India VIX-the volatility index, which is down by 2 per cent to 11.4 levels.

The December futures of the Nifty 50 index is currently trading around an important level of 12,200. Though the contract is trading with a negative bias, 12,200 can act as a support, potentially arresting further declines. Thus, traders are recommended to initiate fresh short positions if the contract slips below 12,200 and place stop loss at 12,235.


Strategy: Sell below 12,200 with stop loss at 12,235

Supports: 12,175 and 12,155

Resistances: 12,230 and 12,250

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Published on December 26, 2019
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