FII Activity

FIIs sold around ₹30+ crores in the cash market. In the F&O segment, they reduced net index futures positions, while increasing net index call shorts and net index put longs. This suggests cautious positioning with selective hedging rather than aggressive bearishness.

 Global Sentiment

Global markets remain neutral to positive, which is helping Indian equities sustain their upside. With the results season expected to begin around 10 January, optimism remains high, and the market is likely to stay range-bound until then.

 Market Structure

The recent minor pullback, driven by elevated PCR levels, has already played out. PCR has now cooled down to around 1.01, indicating a more balanced setup. With Nifty weekly expiry today, the market may remain stable, similar to the last 4–5 weekly expiries.

 Key Levels to Watch

Nifty: Support at 26,150 | Resistance at 26,400

Bank Nifty: Support at 59,750 | Resistance at 60,500

 Our View

This is a good phase to identify quality stocks. Stay selective, trade with a strict stop-loss, and avoid overtrading as the market consolidates ahead of the results season.