Stock Market Analysis

Daily Stock Market Report: December 13

After a quick fall in the first half, bulls are back stronger, managing to close above the low of the trading range where Nifty 50 was stuck until yesterday.

Nifty 50 opened on a positive note with a gap up of 23.35 pts or +0.11%. Right from the opening bell, the index headed lower, dragging the price to 20760 levels and marking the low for the day.

Later, the bulls took control and concluded the day at 20926.35, higher than the opening price, with a gain of 19.95 pts or +0.10%.

Key Observations:

After a quick fall in the first half, the bulls are back stronger, managing to close above the low of the trading range where Nifty 50 was stuck until yesterday.
The current challenge for the bulls lies in surpassing the current all-time high, once this level is crossed, the uptrend will continue.

Spot Signals

Below is the Top Mover from our Live Market Feed:

HPL (+3.95%)

Quant Signals

Under the most popular configuration:

Both 'Quick Short' and 'Back Up' ended the day in green with +2.99% and +1.27% respectively.
On the other hand, 'BTST' recorded a loss of -1.83%.

Broker Signals

Here are today's top positions that closed and met its target:

JINDALSTEL (+18.5% in a month)

EQUITASBNK (+16% in 3 months)

INDHOTEL (+15.1% in 4 months)

All the remaining signals recommended by brokers are currently live.

However, a popular broker has identified a new opportunity with the potential for a double-digit gain. Check it out on the app.

Coming back to the report…

Data Points

Nifty	Calls - Strike Price	Puts - Strike Price
Max OI	21000	20500

The highest CE OI is 21000, and the PE is at 20500 levels. This suggests that the markets are expected to revolve around these levels in the upcoming session.

Levels Worth Monitoring Tomorrow

The immediate resistance for tomorrow is at 20950. If the price turns around from this level, we may expect the index to test today's lows.

On the other hand, the support zone is between 20750 and 20700 levels.

Will Nifty reach new highs in tomorrow's expiry, or will it continue to move sideways?

Disclaimer: The opinions expressed in this blog are personal views and should not be considered financial advice. Please do your own research and consult with a professional before you make any investment decisions.