Stock Market Analysis

Daily Stock Market Report: December 22

The hammer pattern in the hourly time-frame at the day’s lows explains that bulls are currently in control.

Nifty 50 opened on a positive note with a gap up of 40.80 pts or +0.19%. The price continued the uptrend from where it left yesterday, only to face resistance around the 21350 level, as discussed in yesterday’s report.

As the trading day wrapped up, the index concluded at 21349.40 with a gain of 94.35 pts or +0.44%.

Key Observations:

The hammer pattern in the hourly time frame at the day’s lows explains that bulls are currently in control.
However, the bulls continue to face challenges at the 19350 level.

Spot Signals

Below are the Top Movers from our Live Market Feed:

KPIGREEN (+2.12%)

JINDALSTEL (+1.03%)

Quant Signals

Under the most popular configuration:

'Quick Short' closed with a gain of +0.97%.

‘High Five’ closed almost break-even with a gain of +0.26%.

On the other hand, 'Back Up' didn't generate a signal today as it didn't meet its quantitative metric.

Broker Signals

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

VBL (+9.7% returns in a day)

All the remaining signals recommended by brokers are currently live.

Coming back to the report…

Data Points

Nifty	Calls - Strike Price	Puts - Strike Price
Max OI	21500	21000

The highest CE OI is 21500, and the PE is at 21000 levels. This suggests that the markets are expected to revolve around these levels in the upcoming session.

Levels Worth Monitoring Tomorrow

As long as today’s low is held, the outlook for the upcoming session is cautiously bullish to sideways

If the Nifty 50 surpasses 21350, we can anticipate the index to test an all-time high before the year-end.

On the other hand, the immediate support is at today’s lows. If this support level is breached, the index may drag to 20950.

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.

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