Morning Action @ 7:00 AM — Wednesday, December 24th 2025.

# Our Call of the Day: This is the season of miracles — Nifty bulls are hoping Santa is finally on his way on backdrop of strong global cues –– and all bullish eyes are now firmly set on Nifty 26,500+

# The 2-Positive Catalysts:

1) Strong global cues with festive optimism in the air.

2) Murmurs of another quarter-point rate cut from the Federal Reserve are acting as a safety net—cushioning the downside and keeping bullish hopes firmly alive.

# Long Story Short: Up again for benchmark Nifty!

# 7:00 AM GLOBAL UPDATE:
GIFT Nifty ????????: (+32, 26235)
Dow Futures: (+47, 48489)
Nasdaq 100 Futures (+43, 25630)

Nikkei (+116, 50529)
Hang Seng (Closed, 25774)

Dow Jones (+80, 48442)
Nasdaq Composite (+133, 23562)
Bovespa (+2314, 160456).

# MARKET TRENDS:
Global cues: Positive
FII: (-1794.80 crores)
DII: (+3812.40 crores)
Sentiment: Bullish
Market Breadth: Positive
Technicals: Breakout Play
F&O: 25700 - 26700 zone.

INDIA VIX 9.38 (-3.07%)
USD/INR Futures (December) (89.68)
NIFTY PCR (30th December) 1.08
Bank Nifty PCR (30th December) 0.78

# Nifty Outlook: Nifty may consolidate. No massive rally in sight. Nifty may struggle for direction.

# WHAT TECHNICALS TELLS US ON NIFTY & BANK NIFTY:

NIFTY (CMP 26177):
SUPPORT: 26100/25903
RESISTANCE: 26326/26900
RANGE: 26100-26300
BIAS: Positive
21 DMA: 26013
50 DMA: 25875
200 DMA: 24842

SENSEX (CMP 85567)
SUPPORT: 85151/84231
RESISTANCE: 86200/87100
RANGE: 85300-86000
BIAS: Positive
21 DMA: 85130
50 DMA: 84558
200 DMA: 81423

BANK NIFTY (CMP 59304)
SUPPORT: 59000/58700
RESISTANCE: 60115/60900
RANGE: 59000-59900
BIAS: Positive
21 DMA: 59297
50 DMA: 58587
200 DMA: 55591

WHAT HAPPENED AT WALL STREET IN OVERNIGHT TRADE:

# All three key equity indices at Wall Street marched higher for a 4th consecutive session

# As on Tuesday's closing bell, the Nasdaq Composite had climbed 0.6% to 23,561, the S&P 500 was up 0.5% at 6,909, and the Dow Jones Industrial Average had added 0.2% to 48,442.

# The US economy expanded at an annualized pace of 4.3% in Q3, the fastest in two years. (Strong US GDP Data reinforced bets the Fed will keep rates steady in January and also raised concerns that the strength of the US economy could deter the central bank from resuming interest rate cuts next year).

# Gold prices ($4515 per ounce) urged past $4,500 per ounce on Wednesday to a fresh record, driven by expectations of further Federal Reserve easing and rising geopolitical tensions. Markets are still pricing in two rate cuts in 2026 as inflation cools and employment conditions soften, even as policymakers remain divided.

Gold is now up around 70% this year and is on track for its strongest annual gain since 1979, supported by sustained central bank buying and steady inflows into gold-backed funds.

# Silver too zoomed higher near $72.05 per ounce, scaling new record levels, as demand remains robust, supported by growth in the solar, electric vehicle, and data center sectors, underpinning the metal’s long-term fundamentals.

# WTI crude oil futures ($58.45 per barrel) are on the rise as geopolitical risks revived supply concerns. US forces recently boarded the tanker Centuries, carrying roughly 2 million barrels of Venezuelan crude, and pursued another vessel, underscoring Washington’s efforts to choke off revenue to Nicolás Maduro’s government.

# STOCK MARKET NEWS:

# Market Recap:
After a cautious start, Nifty buyers stepped in with bargain hunting conviction, driving the benchmark to close a tad above the dotted lines.

Benchmark Indices at 3:30 PM
NIFTY (+5, 26177)
SENSEX (-43, 85525)
BANK NIFTY (-4, 59300)

# Our Call of the Day: It’s likely to be a day marked by wild swings. That said, this is the season of miracles — Nifty bulls are hoping Santa is finally on his way on backdrop of strong global cues

# The 2-key positive catalyst:

1) Sentiments are buoyed on hopes of a Santa Claus rally
2) Wall Street on the rise as Christmas and Year-End Rally Rolls On

# The trading theme revolves around:

1) The US economy expanded at an annualized pace of 4.3% in Q3, the fastest in two years. (Strong US GDP Data reinforces bets the Fed will keep rates steady in January and also raised concerns that the strength of the US economy could deter the central bank from resuming interest rate cuts next year).

# The Biggest Headwind:
In yesterday’s positive session, FIIs turned out to be net sellers to the tune of Rupees 1795 Crores.

# What Technicals Tells Us On Nifty:
Technically, Nifty’s near-term setup has improved significantly with all bullish eyes on Nifty’s all-time high of 26,326.

For the day, bulls will aim to dictate momentum, the crucial support at 25,907 remains the line in the sand — a breakdown below this level could accelerate downside pressure.

# Long Story Short: Dallal Street’s end-of-year run could take a pause.
That said, buy on any dips should however be the preferred theme as the benchmark Nifty has a realistic shot at reclaiming the 26,326 peak with an interweek-inter-month perspective.

# Nifty Outlook: Nifty may consolidate. No massive rally in sight. Nifty may struggle for direction after a positive start.

# Meanwhile, here are the 7-Top IPOs of 2025

1) Tata Capital issue size Rs. 15511 crores, listed on 13th October 2025. Current market cap Rs. 1,44,495 crores.

2) HDB Financial Services issue size Rs. 12500 crores, listed on 02nd July 2025. Current market cap Rs. 63000 crores.

3) LG Electronics issue size Rs. 11607 crores, listed on 14th October 2025. Current market cap Rs. 1,06,000 crores.

4) ICICI Prudential AMC issue size Rs. 10602 crores, listed on 19th December 2025. Current market cap. Rs. 1,29,340 crores.

5) Groww issue size Rs. 6632 crores, listed on 12th November 2025. Current market cap. Rs. 1,02,000 crores.

6) Meesho issue size Rs. 5421.20 crores, listed on 10th December 2025. Current market cap Rs. 98000 crores.

7) LG Electronics India: Market Cap at Listing: Over ₹1.14 Lakh Crore, which notably surpassed the valuation of its South Korean parent at the time.

# STOCKS IN SPOTLIGHT:

1) Coal India (+3.66%, ₹ 401)

Coal India stole the spotlight, surging 3.35% in yesterday’s trade.

Key Catalyst: IPO buzz around Bharat Coking Coal Limited (BCCL).
Coal India’s Maharatna subsidiary, BCCL, is reportedly gearing up to launch its IPO within the next two weeks, according to media reports.

The proposed listing is seen as a significant value-unlocking exercise and aligns with the government’s broader strategy of monetising state-owned assets through the capital markets. The IPO optimism has clearly lifted investor sentiment around Coal India, positioning the stock as a standout outperformer for the session.

2) Cement stocks in focus: Shares of Ambuja Cements (+1.25%) and Orient Cement (+4.18%) advanced on Tuesday, December 23, after Ambuja announced plans to merge its subsidiaries ACC and Orient Cement into the parent company.

ACC shares (-1.37%), however, declined following the announcement, as investors digested the merger implications. All three cement companies are part of the Gautam Adani–led Adani Group.

3) Ola Electric (+0.26%) was in the limelight as shares climb to an intraday high of ₹36.10 after the company announced an expansion of its Hyperservice initiative, reinforcing confidence in its after-sales and service network push.

Shares of Ather Energy too jumped 1.12% at Rs 707.

(Source: liveMint, Moneycontrol, capital market, business Standard)

# Now, here is the preferred trade on Nifty and Bank Nifty:

Nifty (26177): Buy at CMP. Stop 25813. Targets 26251/26326. Aggressive targets at 26500-26750 zone.

Bank Nifty (59300): Buy at CMP. Stop at 58123. Targets 59600/60115. Aggressive targets at 60500-60900 zone.

# Our chart of the day is bullish on UPL, GMR AIRPORT and MANAPPURAM on any early excessive intraday declines with an interweek/Intermonth perspective.

# The 1 Stock to Buy Right Now: Buy GMR AIRPORT (CMP 105): Buy at CMP. Stop at 99. Targets 111/117. Aggressive targets at 123. (Interweek Strategy). Rationale: Signalling a massive rebound on the upside. Enjoyed strong session in yesterday's trade, up 2.66%. Key interweek support 101. Major hurdles only at 111 mark. 200-DMA at 89.24.

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