Market Closing View for 19th Dec by Ponmudi R, CEO, Enrich Money

Indian equity markets ended the session on a firm yet range-bound note, reflecting healthy consolidation after the recent recovery. Investor sentiment remained steady and constructive, supported by favourable global cues as renewed optimism around further monetary easing by the US Federal Reserve, following lower than expected November inflation data boosted global risk appetite. A recovery in the Indian rupee against the US dollar further added to confidence, leading to broad-based buying through the session. Realty, healthcare, auto, and oil & gas stocks outperformed, closing the day with impressive gains. 

The Nifty 50 opened with a gap-up above 25,900 and spent the day oscillating within a tight 25,905–25,993 band, indicating a pause as the index digests higher levels. Derivatives data continues to define the near-term range, with 25,900 holding the highest Put OI and acting as a reliable support base, while heavy Call OI at 26,000 capped upside attempts. Technically, Nifty remains above all key daily moving averages, keeping the broader structure positive. RSI near 52 signals improving momentum; a decisive close above 26,000 could open the door toward 26,100–26,200, while a sustained slip below 25,900 may lead to a retest of the 25,800 zone.

Bank Nifty closed marginally positive in a consolidation phase, trading within a narrow 58,950–59,150 range. The index continues to face supply near 59,300–59,500, while strong buying interest around 58,800–58,700 is limiting downside. Momentum indicators remain neutral, reinforcing the sideways tone. A clear breakout above resistance or a breakdown below support will be required to establish the next directional move.

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