Bizz Buzz Pre-market Today: Things to know before opening bell

On December 18, the stock market witnessed a lackluster trade session with a Doji candlestick pattern formation, indicating indecision. Despite this, the market maintained its previous day's closing low, suggesting that the momentum still favors the bulls. Analysts anticipate further consolidation in the coming days, with resistance at 21,500 and support at 21,200 levels.

Index Movement: Sensex fell 169 points to 71,315, and Nifty50 declined 38 points to 21,419.

Technical Analysis: The daily chart displayed a Doji formation, but the overall tone remains bullish with no clear signs of weakness, according to Rajesh Bhosale, a technical analyst at Angel One.

Caution Advised: Traders are advised to exercise caution as prices approach a key resistance zone (21,500 to 21,600). Profit-taking at higher levels is recommended, and strong support is identified in the 21,200 to 21,300 zone.

Support and Resistance Levels (Nifty): Immediate resistance at 21,467, followed by 21,495 and 21,540. Support levels at 21,377, 21,350, and 21,305.

Nifty Bank: The banking index has to hold above 47,500 for an upward move towards 48,250 and 48,500 levels. Support expected at 47,500 and 47,250.

Options Data: Maximum Call open interest at 21,500 strike, while meaningful Call writing observed at 21,500 and 21,600 strikes. Put open interest highest at 21,300 strike.

Delivery Percentage: Stocks with high delivery percentage include Pidilite Industries, SBI Life Insurance Company, Dabur India, Cholamandalam Investment and Finance, and Larsen & Toubro.

Long Build-Up: 56 stocks, including IRCTC, Zydus Lifesciences, Granules India, Gujarat Gas, and Mahanagar Gas, saw long build-up.

Long Unwinding: 44 stocks, including Coforge, Hero MotoCorp, India Cements, LTIMindtree, and MRF, witnessed long unwinding.

Short Build-Up: 49 stocks, such as Metropolis Healthcare, Balkrishna Industries, PFC, ITC, and Tata Communications, showed short build-up.

Short-Covering: 37 stocks, including Dr. Reddy's Laboratories, Hindustan Copper, SAIL, IndiaMART InterMESH, and Mphasis, experienced short-covering.

Put-Call Ratio (PCR): Nifty PCR dropped to 1.12 on December 18, indicating increased bearish sentiment as traders bought more Put options.

Bulk Deals: Promoter entities exited Sapphire Foods India, while foreign investor Government of Singapore increased its stake in Sapphire. Goldman Sachs, Tata AIA Life Insurance, and DSP MF picked a stake in Archean Chemical Industries.

Stocks in the News: Sun Pharmaceutical Industries to acquire 16.7% shares in Lyndra Therapeutics. Biocon subsidiary completes the transition of the acquired biosimilar business. Vedanta approves the second interim dividend of Rs 11 per equity share. IRCON International wins arbitration award of Rs 103.62 crore.

FII and DII Data: FIIs net sold shares worth Rs 33.51 crore, while DIIs bought Rs 413.88 crore worth of stocks on December 18.

Note: The analysis is based on data and opinions provided by market experts and analysts. Traders are advised to exercise caution and consult with certified experts before making investment decisions.