Trade Set-up for December 15: The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open on a weak note on Monday, December 15 tracking overall negative global market cues from Asian peers after US markets ended in the red on Friday.
The trends on Gift Nifty also indicate a lower start for the Indian benchmark index after two straight sessions of gains. The Gift Nifty was trading near 26,037 level, down 98 points or 0.4% from the Nifty futures’ previous close.
Meanwhile, on Friday December 12, the Indian stock market extended its gains for the second straight session on Friday, December 12, supported by upbeat global sentiment after the US Federal Reserve announced a rate cut. The Sensex climbed 450 points, or 0.53%, to close at 85,267.66, while the Nifty 50 advanced 148 points, or 0.57%, to settle at 26,046.95. Broader markets also strengthened, with the BSE Midcap index rising 1.14% and the Smallcap index up 0.65%.
Investor wealth saw a sharp jump as the total market capitalisation of BSE-listed companies increased to over ₹470 lakh crore, compared to ₹466.6 lakh crore in the previous session—adding more than ₹3 lakh crore in a single day.
Here’s what to expect from Sensex, Nifty 50, and Bank Nifty today:
Sensex Prediction
The Sensex is expected to begin the week on a steady footing after holding key support levels through Friday’s session. Analysts noted that the index continues to trade within a well-defined range, with intraday volatility likely as markets await fresh global cues.
Mayank Jain, Market Analyst, Share.Market, said the benchmark remains structurally stable above crucial levels. He noted that the Sensex is hovering comfortably over its support zone of 85,000–84,800, which is expected to guide trading sentiment in the near term. According to him, the broader range for Monday is likely to stay between 84,800 and 85,500, with 85,000 acting as a key pivot. “A decisive move above 85,300 or below 84,800 may lead to a directional shift in that respective direction,” he said.
Amol Athawale, VP–Technical Research, Kotak Securities, echoed the cautiously optimistic view, highlighting the strength of underlying support levels. “We are of the view that 84,500 and 84,100 would act as key support levels for positional traders. As long as the market is trading above these levels, the positive sentiment is likely to continue. On the higher side, the index could move up to 85,400–85,600. Further upside potential may also lift the index up to 85,900–86,100,” Athawale said.
On the flip side, below 25,700/84100, the uptrend could become vulnerable.
Nifty OI Data
As per Mayank Jain, Market Analyst at Share.Market, “Open interest has shifted from 26,000–26,100 to higher strikes, with meaningful additions at 26,200 and maximum positioning at 26,500, reflecting expectations of capped upside unless the index breaks out of its current congestion range.”
Nifty 50 Prediction
The Nifty 50 regained control of critical support and resistance levels on Friday, reclaiming the 26,000 mark after a brief pullback earlier in the week. Analysts say the index is now approaching a crucial inflection point, with the next directional move likely to be triggered if Nifty decisively breaks above the 26,200 region.
Nilesh Jain, Head – Technical and Derivatives Research, Centrum Broking, said, “The bulls staged a strong comeback as Nifty closed above 26,000 for the second session. Earlier in the week, the index took support near its 50-DMA at 25,720 and rebounded firmly. This level is expected to remain an important support zone. Nifty has also moved above its 21-DMA at 26,020, reinforcing positive momentum. If it sustains above 26,000, a short-covering move toward 26,200–26,250 is likely next week.”
Meanwhile, Rupak De, Senior Technical Analyst at LKP Securities, also pointed to improving momentum, stating, “Nifty has moved back above 26,000 after a brief phase of weakness. On Friday, it closed higher, reclaiming the 21EMA. The RSI on the 4-hour chart has entered a bullish crossover, indicating strengthening momentum. As long as the index holds above 25,900, the trend should remain constructive, with potential upside towards 26,300 in the near term.”
Bank Nifty Prediction
The Bank Nifty ended Friday’s session flat-to-positive at 59,390 after a day of narrow consolidation, with analysts pointing to signs of hesitation but steady support at lower levels.
Hrishikesh Yedve, AVP – Technical and Derivative Research, Asit C. Mehta Investment Intermediates Ltd, said the index’s structure reflects ongoing indecision. “The Bank Nifty opened on a positive note, witnessed range-bound consolidation, and settled flat-to-positive at 59,390. On the daily chart, it has formed a Doji, signalling uncertainty, while the weekly candle shows a long lower shadow, indicating buying at lower levels. On the upside, 59,800 and 60,115 are hurdles, while 58,800–58,900 remains the demand zone. Traders should follow a buy-near-support and sell-near-resistance approach,” he noted.
Vatsal Bhuva, Technical Analyst at LKP Securities, added that sustained strength above key moving averages is essential. “Bank Nifty formed a small indecisive Doji but reclaimed its 10-day EMA. If it holds above this for 2–3 sessions, momentum may improve. A close above 59,500 could lift sentiment, though the RSI has yet to show a bullish crossover. Support lies at 59,100 near the 20-day EMA, with resistance at 59,500 and 59,800,” he said.
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.
