Trade Set-up for December 29: The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open flat or mildly positive on Monday, December 29, amid ongoing geopolitical cues.
The trends on Gift Nifty also indicate a positive start for the Indian benchmark index. The Gift Nifty was trading near 26,100 level, up 20.50 points or 0.8% from the Nifty futures’ previous close.
The Indian stock market ended on a lower note on Friday, December 26, as continued selling pressure weighed on sentiment amid a lack of fresh triggers and mixed global cues. The Sensex fell 367 points, or 0.43%, to close at 85,041.45, while the Nifty 50 dropped 100 points, or 0.38%, to settle at 26,042.30.
Despite the weak close, the benchmarks recorded marginal gains for the week. For the week ended December 26, the Sensex inched up 112 points, or 0.13%, breaking a two-week losing run, while the Nifty 50 advanced 0.30%, ending a three-week slide.
“Markets witnessed a marginal decline after two sessions of range-bound movement and slipped nearly half a percent, extending the ongoing consolidation amid low volumes in the holiday-shortened week. After a steady start, the Nifty gradually drifted lower through the session, tested the 26,000 mark, and eventually settled at 26,042.30. Sectoral performance remained aligned with the benchmark, with most indices ending in the red; IT, financials and auto emerged as the key laggards. The broader markets tracked the benchmark and closed flat to marginally positive, reflecting cautious participation,” said Ajit Mishra, SVP, Research, Religare Broking Ltd.
Here’s what to expect from Sensex, Nifty 50, and Bank Nifty today:
Sensex Prediction
Sensex ended the week at 85,041, consolidating just below all-time highs amid subdued participation and selective selling in heavyweight stocks.
Ponmudi R, CEO, Enrich Money, said, “The index continues to find strong support near the 84,800–84,500 zone, indicating institutional accumulation on declines. A firm close above the 85,500–85,800 band could unlock upside toward 86,000–86,500 in the weeks ahead.”
Nifty OI Data
Ponmudi R further added that Derivative market positioning continues to reflect a cautious yet stable sentiment.
“Open interest data highlights strong put accumulation around the 26,000 strike, reinforcing it as a key near-term support zone, while call writing remains concentrated in the 26,200–26,300 range, effectively capping immediate upside. This OI configuration suggests a range-bound setup in the near term, with a decisive breakout above the call-heavy zone required to signal the next directional move and improve risk appetite,” R said.
Nifty 50 Prediction
Nifty 50 ended the week at 26,042, continuing to respect its long-term rising channel on the daily chart. Analysts believe that the index remains comfortably above the 20-day EMA cluster, preserving the medium-term bullish structure.
“As long as Nifty sustains above the 26,000–25,900 support zone, the overall bias remains positive. A decisive breakout above the 26,200–26,300 resistance band could trigger fresh momentum toward 26,500–26,800 in early 2026, while a brief dip toward 25,800, if seen, is likely to attract buying interest rather than indicate structural weakness,” said R.
Bank Nifty Prediction
On Friday, the Bank Nifty index closed at 59,011 and according to analysts the index remains well supported above its rising channel and key moving averages.
“Sustaining above the 58,800–59,000 zone keeps the outlook positive and opens the door for a move toward 60,000–60,500, driven by renewed optimism around credit growth and supportive liquidity conditions. A sustained break below the 58,000–58,500 zone would indicate short-term weakness, although the broader uptrend remains intact,” R added.
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.
