Trade Set-up for December 30: The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open in the red on Tuesday, December 30, extending losses for the fifth straight session amid thin trade following muted cues from the global peers.
The trends on Gift Nifty also indicate a positive start for the Indian benchmark index. The Gift Nifty was trading near 25,936 level, down 29 points or 0.11% from the Nifty futures’ previous close.
In the previous session, the Indian stock markets ended in the red on Monday, December 29, as subdued participation and the absence of strong market cues curtailed risk appetite, pointing to a phase of near-term consolidation. Market sentiment continued to remain under pressure due to sustained selling by foreign institutional investors (FIIs).
BSE Sensex logged its fourth consecutive day of losses, slipping 345.91 points, or 0.41%, to close at 84,695.54. The NSE Nifty 50 also extended its losing streak to a third straight session, declining 100.20 points, or 0.38%, to end the day at 25,942.10.
Here’s what to expect from Sensex, Nifty 50, and Bank Nifty today:
Sensex Prediction
The Sensex closed at 84,695.54 on Monday, slipping 345 points, or 0.41%, and marking its fourth consecutive session of losses. The index breached the psychologically important 85,000 mark during the session and failed to reclaim it by the close, reinforcing a short-term bearish bias. Technical analysts highlighted weakening momentum indicators, suggesting the market may remain under pressure unless key levels are reclaimed.
Mayank Jain, Market Analyst at Share.Market, said the index’s inability to recover lost ground signals growing downside risk. “The breach of 85,000 has shifted market sentiment, with 84,400–84,500 emerging as a crucial support zone and call writing creating strong overhead resistance,” Jain said. He added that while heavy call open interest at 85,000 and 85,500 has turned earlier support into resistance, put buildup near 84,500 indicates expectations of some near-term cushioning.
Meanwhile, Aakash Shah, Research Analyst at Choice Equity Broking, said the Sensex’s positioning below short-term averages reflects cautious sentiment. “Trading below the 20-day moving average and failure to hold above 85,000 point towards consolidation or further correction unless 85,100–85,200 is crossed,” Shah said. He noted that immediate support lies in the 84,200–84,300 zone, followed by the 84,000 level, where buyers could attempt to absorb selling pressure.
Nifty OI Data
Looking ahead, derivatives positioning and volatility trends suggest that markets may remain sensitive to key levels, with traders closely watching whether the index can reclaim lost ground or slip into a deeper consolidation phase.
Amruta Shinde, Technical & Derivative Analyst at Choice Equity Broking, said volatility has inched higher, with India VIX rising 6.23 percent to 9.7, reflecting a modest increase in uncertainty. “Aggressive call writing at 26,200 and strong put open interest near 25,900 highlight a critical pivot zone, while a close above 26,000 is needed to revive bullish momentum,” she said.
Nifty 50 Prediction
As markets look ahead to the final leg of the December series, technical signals are flashing caution, with momentum indicators weakening and volatility expected to stay elevated in the near term. Analysts believe the next few sessions could prove decisive in determining whether the recent correction deepens or stabilizes around key support zones.
Osho Krishan, Chief Manager – Technical and Derivative Research at Angel One, said the ongoing selling pressure has materially weakened the market structure. “The Nifty has slipped below the 20-DEMA with a negative RSI crossover, indicating sellers remain in control and bullish momentum is clearly absent,” he said. Krishan noted that immediate support lies in the 25,900–25,850 zone, with 25,700 acting as a crucial level for the near-term trend, while a move above 26,100–26,150 could revive momentum and open the door for a retest of lifetime highs.
Echoing the cautious tone, Nilesh Jain, Head – Technical and Derivatives Research Analyst, pointed to a weakening price pattern as the index extends its losing streak. “The formation of lower highs and lower lows reflects short-term weakness, though support near the 50-DMA around 25,920 is still holding,” Jain said. He added that with the December monthly F&O expiry approaching, volatility is likely to remain high, with Nifty expected to trade within a broad 25,800–26,100 range in the near term.
Bank Nifty Prediction
Banking stocks appear to be entering a phase of consolidation, with technical indicators pointing to rising uncertainty and selective profit booking after the recent rally.
Hrishikesh Yedve, AVP – Technical and Derivative Research at Asit C. Mehta Investment Intermediates Ltd, said, “On the daily chart, Bank Nifty has formed a small red candle with shadows on both sides, which indicates short-term uncertainty and indecision among traders.” He added that resistance is seen at 59,800 and 60,115, while the 58,700–58,800 zone is acting as a crucial demand area, suggesting a buy-near-support and sell-near-resistance approach in the near term.
Echoing a cautious view, Amruta Shinde, Technical & Derivative Analyst at Choice Equity Broking, noted that intraday selling pressure has started to emerge despite a positive opening. “The index opened higher but slipped to an intraday low of 58,809, indicating profit booking after recent gains and growing caution towards banking stocks,” she said. According to Shinde, immediate resistance lies at 59,150–59,250, while supports at 58,600 and 58,700 remain critical for maintaining near-term stability.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
