Nifty 25693 (last week 24820 )
Nifty dipped to 24,691 on the first day of the week. Following the announcement of the trade deal with the US, the market bounced back sharply on Monday, rising to 26,337. Thereafter, it consolidated and eventually settled at 25,693.
Though Budget was a disappointment, there was a support in nifty near to 24740.
Since the GST was reduced in Oct 2025 and also the Income Tax slab reduction last year, there was no much changes in Direct and Indirect Taxes in the budget.
Trade deal framework was released with reduction in tax to 18% for export of apparel, leather, chemicals & marine products.
Tea, Coffee, Spices, Few auto parts & machinery, Diamonds are taxed at 0%.
Simillary US gains from industrial goods, Alchohol, Cars over 3000 Cc, Bikes above 800CC with zero tax.India managed to impose same tariff for sensistive agri products.
RSI 54%, MACD crossed the signal, Stochastic 64% all indicators denote upward rally in the coming week.
However, Broader range bound movement will be upto 26372 (all time high)/26400 to 24500.
Decisive break above 26372/26400 will pave way for nifty to 27000.
As still global tension prevails, high volatility expected, use this opportunity to buy slowly. Since the short term suppport is broken, there is no need in any urgency to buy the stocks.
As far as India is concerned, economy is moderate.
The Nifty 500 stocks have shown a mix of performance in Q3 FY25-26. Some stocks have performed well, while others have lagged.
Q3 results are moderate as public sector banks like union bank, punjab sind, Federal & IOB posted good results. Reliance with moderate 1% up, hdfc bank posted 12% up, ICICI bank -3%, IDBI Bank is flat, Yes Bank is up but sales and EBIT are negative, South indian bank 9%, Infosys 11%, wipro -7% and Tech Mah 33%, Polycab 36%, HDB Fin Services 36% , HDFC Life -1% and ICICI Pru Life 12% and ICICI AMC 45% up and budget for 2026-27 to be proposed on Ist Feb 2026. Persistent system, Waaree Energies , CPCL , BPCL, SBFC Fin, Ultratech Cem, mcx, laurus lab, KVB gave very good results this week. SBI posted 24% growth last week,
On Budget Day, Muthoot Fin, Gold related stocks like Muthoot , Thangamayil, MAnappuram, Titan have fallen, Nalco, Hindalco have fallen by 10% in last two sessions.
Also Public Sector banks are reduced,
Gold have dropped more than 15 % in last two trading session but slightly recovered, silver fell near to 50%.
As i am emphasizing for more than 3 months now, that the situation is highly Volatile, SIP route or buy in multiple parcel route (On Dips) with a goal of 3-5 years ( Medium to Long term) will workout.
Considering the global situation, diversify the portfolio with Debt and liquid fund ( approx 20-30% portfolio) and 10-20% in Gold & Silver for Year 2026, this funds ( especially liquid funds will create funds availability for further buying opportunity incase of market dips like a Systematic transfer plan.
Some of the stocks to watchout given last week are HDFC AMC, NMDC, Apar, Sharda Crop, VRL Logistics, krishna Phos chem, Cipla, Dr Reddy, Natco pharma, Apl Apollo Tubes, Muthoot Finance ( On Dips) , tata Steel ( Contra Stock due to Business Cycle), Bank of Mah, BPCL, CG Power, hero motor, shriram finance and NRB bearings. Shared for Analysis purpose only. Dr Reddy, shriram fin, natco pharma, Hero moto corp,HPCL, BPCL, IOCL, Carysil, MAS Financial Services and BSE . Waaree Energies had an IT raid in its premises in Mid of Nov 2025. Outcome will take the stock forward.
New stocks proposed for watchout for 29-Dec-25 to 02-Jan-26 is Indian Bank and NBCC, buy on dip as market in volatile situation. Both stocks reduced further and in buyable range.
New Stocks ( to watchout For Jan Ist Week 2026) are ITC & Lupin.
For 18-Jan-26, after Q3 Results HDFC AMC ( already provided in the call above), Poly cab, union bank, Tech Mah, Infosys are some of the picks for Watchlist.
New Stocks to watchout for 01-Feb-26 are Capri Global, persistent systems, narayana hrudayala, nalco, Dixon & CG Power ( Semiconductor Push).
All the above stocks can be considered slowly ( as multiple parcels) in case of stock price has fallen.
Nifty Short Term Supports :
24819 (Trend Line as shown)
25000
25200 ( 25154 Aug 2025 high)
25360-25420 ( Sep high and trendline support as shown in chart)
25300-25350 (Two Fibonacci resistance shown ) - Major Support
Hence 25300- 25420 acts as major short term support.
25450 ( 25442 is the Aug 2025 high)
25500 ( 25441 Sep 18th 2025 High )
Short Term Resistance ( Many from 25000-26320)
1.26329 ( All time High)
25670 (Jun 2025 High)
Medium Term Support:
1. 24000-24170 (Fibonacci Retracements Supports- Two Supports in this zone 24116 & 24171 as shown)
2. 23500-23700 (Fibonacci Retracements Supports- Two Supports in this zone 23608 & 23707 as shown)
3. 23000
Medium Term Resistance:
1.27000 ( Need to decisively break 26269 all time high) This resistance is based on Fibonacci resistance at 27034
2. 26500
3. 26700 ( Finonacci 1.618 as shown in graph)
Long term resistance:
1.28000 ( Need to decisively break and move up 27000)This resistance is based on Fibonacci resistance at 28106
Long Term Support
1.22700-23000 ( Trend line and Mar 2024 High)
2.Big support at 20000 (Sep 2023 high)
Nifty dipped to 24,691 on the first day of the week. Following the announcement of the trade deal with the US, the market bounced back sharply on Monday, rising to 26,337. Thereafter, it consolidated and eventually settled at 25,693.
Though Budget was a disappointment, there was a support in nifty near to 24740.
Since the GST was reduced in Oct 2025 and also the Income Tax slab reduction last year, there was no much changes in Direct and Indirect Taxes in the budget.
Trade deal framework was released with reduction in tax to 18% for export of apparel, leather, chemicals & marine products.
Tea, Coffee, Spices, Few auto parts & machinery, Diamonds are taxed at 0%.
Simillary US gains from industrial goods, Alchohol, Cars over 3000 Cc, Bikes above 800CC with zero tax.India managed to impose same tariff for sensistive agri products.
RSI 54%, MACD crossed the signal, Stochastic 64% all indicators denote upward rally in the coming week.
However, Broader range bound movement will be upto 26372 (all time high)/26400 to 24500.
Decisive break above 26372/26400 will pave way for nifty to 27000.
As still global tension prevails, high volatility expected, use this opportunity to buy slowly. Since the short term suppport is broken, there is no need in any urgency to buy the stocks.
As far as India is concerned, economy is moderate.
The Nifty 500 stocks have shown a mix of performance in Q3 FY25-26. Some stocks have performed well, while others have lagged.
Q3 results are moderate as public sector banks like union bank, punjab sind, Federal & IOB posted good results. Reliance with moderate 1% up, hdfc bank posted 12% up, ICICI bank -3%, IDBI Bank is flat, Yes Bank is up but sales and EBIT are negative, South indian bank 9%, Infosys 11%, wipro -7% and Tech Mah 33%, Polycab 36%, HDB Fin Services 36% , HDFC Life -1% and ICICI Pru Life 12% and ICICI AMC 45% up and budget for 2026-27 to be proposed on Ist Feb 2026. Persistent system, Waaree Energies , CPCL , BPCL, SBFC Fin, Ultratech Cem, mcx, laurus lab, KVB gave very good results this week. SBI posted 24% growth last week,
On Budget Day, Muthoot Fin, Gold related stocks like Muthoot , Thangamayil, MAnappuram, Titan have fallen, Nalco, Hindalco have fallen by 10% in last two sessions.
Also Public Sector banks are reduced,
Gold have dropped more than 15 % in last two trading session but slightly recovered, silver fell near to 50%.
As i am emphasizing for more than 3 months now, that the situation is highly Volatile, SIP route or buy in multiple parcel route (On Dips) with a goal of 3-5 years ( Medium to Long term) will workout.
Considering the global situation, diversify the portfolio with Debt and liquid fund ( approx 20-30% portfolio) and 10-20% in Gold & Silver for Year 2026, this funds ( especially liquid funds will create funds availability for further buying opportunity incase of market dips like a Systematic transfer plan.
Some of the stocks to watchout given last week are HDFC AMC, NMDC, Apar, Sharda Crop, VRL Logistics, krishna Phos chem, Cipla, Dr Reddy, Natco pharma, Apl Apollo Tubes, Muthoot Finance ( On Dips) , tata Steel ( Contra Stock due to Business Cycle), Bank of Mah, BPCL, CG Power, hero motor, shriram finance and NRB bearings. Shared for Analysis purpose only. Dr Reddy, shriram fin, natco pharma, Hero moto corp,HPCL, BPCL, IOCL, Carysil, MAS Financial Services and BSE . Waaree Energies had an IT raid in its premises in Mid of Nov 2025. Outcome will take the stock forward.
New stocks proposed for watchout for 29-Dec-25 to 02-Jan-26 is Indian Bank and NBCC, buy on dip as market in volatile situation. Both stocks reduced further and in buyable range.
New Stocks ( to watchout For Jan Ist Week 2026) are ITC & Lupin.
For 18-Jan-26, after Q3 Results HDFC AMC ( already provided in the call above), Poly cab, union bank, Tech Mah, Infosys are some of the picks for Watchlist.
New Stocks to watchout for 01-Feb-26 are Capri Global, persistent systems, narayana hrudayala, nalco, Dixon & CG Power ( Semiconductor Push).
All the above stocks can be considered slowly ( as multiple parcels) in case of stock price has fallen.
Nifty Short Term Supports :
24819 (Trend Line as shown)
25000
25200 ( 25154 Aug 2025 high)
25360-25420 ( Sep high and trendline support as shown in chart)
25300-25350 (Two Fibonacci resistance shown ) - Major Support
Hence 25300- 25420 acts as major short term support.
25450 ( 25442 is the Aug 2025 high)
25500 ( 25441 Sep 18th 2025 High )
Short Term Resistance ( Many from 25000-26320)
1.26329 ( All time High)
25670 (Jun 2025 High)
Medium Term Support:
1. 24000-24170 (Fibonacci Retracements Supports- Two Supports in this zone 24116 & 24171 as shown)
2. 23500-23700 (Fibonacci Retracements Supports- Two Supports in this zone 23608 & 23707 as shown)
3. 23000
Medium Term Resistance:
1.27000 ( Need to decisively break 26269 all time high) This resistance is based on Fibonacci resistance at 27034
2. 26500
3. 26700 ( Finonacci 1.618 as shown in graph)
Long term resistance:
1.28000 ( Need to decisively break and move up 27000)This resistance is based on Fibonacci resistance at 28106
Long Term Support
1.22700-23000 ( Trend line and Mar 2024 High)
2.Big support at 20000 (Sep 2023 high)
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.