{"id":914,"date":"2023-12-28T03:27:59","date_gmt":"2023-12-28T03:27:59","guid":{"rendered":"https:\/\/tradeplusonline.com\/tpblog\/?p=914"},"modified":"2025-08-18T07:50:09","modified_gmt":"2025-08-18T07:50:09","slug":"morning-market-update-december-28-2023","status":"publish","type":"post","link":"https:\/\/navia.co.in\/blog\/morning-market-update-december-28-2023\/","title":{"rendered":"Morning Market Update December 28, 2023"},"content":{"rendered":"\n

Nifty CMP :- 21,654.75<\/strong><\/p>\n\n\n\n

Nifty  Put\/Call Ratio (OI) is at 1.41  and IV is at 15.56  resulting in bullish sentiment<\/p>\n\n\n\n

On weekly series on option front, weekly Maximum Call OI is at 22,000  then 21,800 strike while Maximum Put OI is at 21,500  then 21,200<\/p>\n\n\n\n

Option data suggests a  trading range in between 19000  to 24,000 zones while an immediate trading range in between 21,000  to 23,000  zones.<\/p>\n\n\n\n

As per price action set up ;<\/p>\n\n\n\n

Nifty Resistance:-  ATH<\/p>\n\n\n\n

Downside supports :-S1:-21,488 \/S2 :21,335<\/p>\n\n\n\n

Max Pain :- 21,550<\/p>\n\n\n\n

Bank Nifty CMP :- 48,282.20<\/strong><\/p>\n\n\n\n

For  weekly series Bank Nifty, Maximum Call  OI is at 49,500 then 49,000  strike and maximum Put OI is placed at 48,000  then 47,500<\/p>\n\n\n\n

Bank Nifty Put Call Ratio is at 0.97 and  Implied volatility of ATM( at the money ) is at 17.09<\/p>\n\n\n\n

Data setup for Bank Nifty suggests a trading range in between 45,000  to 50000  zones while immediate trading ranges from 47,000 to 49,500<\/p>\n\n\n\n

Bank Nifty Resistance :- ATH<\/p>\n\n\n\n

Bank Nifty support: S1:-47,406\/ S2:- 46,908<\/p>\n\n\n\n

Max pain :- 48,000<\/p>\n\n\n\n

INDIA VIX CMP:-  15.55<\/strong><\/p>\n\n\n\n

India VIX  closed up by around  6% .Volatility is observed resulting in strengthening of indices.<\/p>\n\n\n\n

Looking ahead at the FII\u2019s derivatives  activity, there is  bearish <\/u><\/strong>setup in index futures, Long  volatility <\/u><\/strong>in index options ,  Short volatility <\/u><\/strong> in stock <\/a>options and bullish <\/u><\/strong>sentiment in stock futures.<\/p>\n\n\n\n

In cash market, FIIs were net buyers of  2,926.05 crores while DII\u2019s were net sellers -192.01  crores.<\/p>\n\n\n\n

FIIs Index Long Short Ratio is Longs<\/strong> : 63%  Shorts<\/strong> :- 37%<\/p>\n\n\n\n

Securities in F&O  ban :-<\/u><\/strong><\/p>\n\n\n\n

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  1. <\/strong>NATIONALALUM<\/strong><\/li>\n\n\n\n
  2. <\/strong>RBLBANK<\/strong><\/li>\n<\/ol>\n\n\n\n

    CUES FOR TODAY :-<\/strong><\/p>\n\n\n\n