Despite sharp intraday swings, Indian equity markets refused to surrender their bullish undertone, ending the session on a cautiously positive note. At Riddhi Siddhi Share Brokers, we observed a market that tested patience—but not conviction.
With global cues staying supportive and expectations of a US Federal Reserve rate cut gaining traction, the broader narrative of a Santa Rally remains very much alive.
Market at a Glance
| Index | Change | Closing Level |
|---|---|---|
| NIFTY 50 | +5 pts (+0.02%) | 26,177 |
| SENSEX | -43 pts (-0.05%) | 85,525 |
| BANK NIFTY | -4 pts (-0.01%) | 59,300 |
📌 Key Observation:
After a cautious start, bargain hunters emerged near support levels, allowing Nifty to close marginally higher—signalling underlying strength rather than distribution.
What’s Driving the Market? — Riddhi Siddhi Share Brokers’ Perspective
Several macro and sentiment-driven factors continue to cushion downside risks:
🌍 Global Tailwinds
- Strength on Wall Street, buoyed by year-end optimism.
- Reduced volatility due to Christmas-week trading.
- Rising expectations of a January Fed rate cut.
🇮🇳 Why US Rate Cuts Matter for India
Lower US rates historically support Indian equities by:
- Encouraging foreign institutional inflows
- Stabilising the Indian rupee
- Improving system liquidity
- Providing tailwinds to export-driven sectors, especially IT
🔎 Bottom Line (Riddhi Siddhi View):
Nifty still carries a realistic inter-week and inter-month probability of reclaiming and sustaining levels above its all-time high of 26,326.
Market Internals: Calm Beneath the Surface
- Advance–Decline Ratio: 25 : 25 (Perfect balance)
- INDIA VIX: 9.37 (↓ 3.20%) — complacency persists
- NIFTY PCR (30 Dec): 1.08 — neutral to mildly bullish
- USD/INR Futures: 89.73 (↓ 0.02%)
📉 Low volatility combined with range-bound indices suggests accumulation rather than panic.
Sectoral Performance: Rotation, Not Reversal
✅ Top Performing Sectors
- NIFTY MEDIA: +0.80%
- NIFTY METAL: +0.54%
- NIFTY FMCG: +0.52%
❌ Lagging Sectors
- NIFTY IT: -0.80%
- NIFTY PSU BANK: -0.34%
- NIFTY HEALTHCARE: -0.24%
🔍 Insight:
The decline in IT stocks came after a strong four-day rally—classic profit booking, not trend damage.
Index Structure: Trend Still Favourable
- Nifty logged its 3rd consecutive positive close
- Trading:
- Below 21-DMA: 26,013
- Above 50-DMA: 25,874
- Well above 200-DMA: 24,842
📊 Midcaps: Flat
📈 Smallcaps: +0.37% — bullish consolidation intact
🏦 Bank Nifty: Consolidating below ATH of 60,114
Stocks in Focus — Riddhi Siddhi Share Brokers Radar
⭐ Coal India (+3.66%)
- Rally driven by IPO buzz around BCCL, a Maharatna subsidiary.
- Seen as a value-unlocking trigger aligned with PSU monetisation.
🏗 Cement Stocks React to Merger News
- Ambuja Cement: +1.25%
- Orient Cement: +4.18%
- ACC: -1.37% (profit booking after merger clarity)
⚡ EV Space
- Ola Electric: +0.26% after Hyperservice expansion
- Ather Energy: +1.12%
🚆 Railway Stocks Extend Rebound
- IRCON: +8%
- RVNL: +2.83%
- IRFC: +3.76%
- Third straight session of gains confirms renewed momentum
Bulls & Bears of the Day
🐂 Bulls
- COALINDIA (+3.73%)
- SHRIRAMFIN (+2.42%)
- ITC (+1.53%)
- ULTRACEMCO (+1.30%)
🐻 Bears
- INFY (-1.48%)
- BHARTIARTL (-1.15%)
- ADANIPORTS (-1.05%)
- SUNPHARMA (-0.93%)
Fresh 52-Week Highs & Lows
📈 New Highs
- ASHOKLEY
- EICHERMOT
- HINDCOPPER
- HINDZINC
- UPL
📉 New Low
- ACC
Technical Outlook — NIFTY 50
- CMP: 26,177
- Support: 26,000 / 25,901 (Critical zone)
- Resistance: 26,350 / 26,551
- Near-term Range: 26,045 – 26,277
- Trend: Positive
📌 A sustained close above 26,350 could open the gates for fresh all-time highs.
Stock Ideas (Watchlist Only)
📈 Bullish — Short Term
- BIOCON
- IDFCFIRSTB
- NMDC
📊 Bullish — Long Term
- INDUSTOWER
- ATHER
- M&M
📉 Bearish
- BSE
- COFORGE
- TCS
⚠️ Stocks to Avoid
- COLPAL
- SHREECEM
- BLUESTAR
Riddhi Siddhi Share Brokers’ Outlook
With volatility staying low, global cues supportive, and Nifty just a stone’s throw from its record high, the Santa Rally appears to be in its early stages rather than nearing exhaustion.
📅 Market Holiday Alert:
Indian markets will remain closed on Thursday, December 25, on account of Christmas.
Final Takeaway
This is a market of rotation, not reversal. Corrections are being bought, sentiment remains constructive, and broader participation—especially in smallcaps and PSUs—continues to improve.
👉 Stay connected with Riddhi Siddhi Share Brokers for:
- Daily market outlooks
- Technical & derivative insights
- Stock-specific research
- Actionable trading education
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