BizzBuzz Pre-market Today: Things to know before opening bell

The market showed strong momentum on December 14, as it rebounded after six days of consolidation. The Nifty50 is expected to march towards 21,400-21,500 levels in the coming sessions, supported by sector rotation. The BSE Sensex hit a record high of 70,514, while the Nifty 50 reached 21,211 and closed at an all-time high of 21,183.

The technical analysis suggests that the Nifty50 may continue its uptrend, and if the recent upside gap remains unfilled in the next 2-3 sessions, it could indicate a sharp uptrend. Analysts anticipate the Nifty reaching the crucial resistance level of 21,550 in the coming week, with immediate support at 21,050 levels.

Key support and resistance levels for the Nifty are predicted at 21,208, 21,240, and 21,293 on the upside, while 21,104, 21,072, and 21,020 are the expected support levels. The Nifty Bank also showed strength, hitting a new high of 47,944, with a resistance level identified at 47,894, followed by 47,996 and 48,162.

In the options market, the 21,200 strike has the maximum open interest on the Call side, acting as a key resistance level. On the Put side, the 21,100 strike has the maximum open interest, serving as a key support area. The Nifty Put Call ratio (PCR) climbed above 1, indicating an increase in bearish sentiment.

Stocks with high delivery percentage include PVR INOX, ICICI Lombard General Insurance Company, Crompton Greaves Consumer Electricals, SBI Life Insurance Company, and Godrej Consumer Products. There was a long build-up in 69 stocks, while 20 stocks witnessed long

unwinding. Additionally, 21 stocks saw a short build-up, and 77 stocks were on the short-covering list.

Notable developments in specific stocks include Hero MotoCorp buying additional stake in Ather Energy, State Bank of India purchasing a stake in Canpac Trends, and PVR INOX witnessing a likely stake sale by Plenty Private Group & Multiples Private Group.

Furthermore, M&M Financial Services received board approval to enter the areas of life, health, and general insurance, while Texmaco Rail Engineering secured an order worth Rs 1,374.41 crore from the Ministry of Railways.

The funds flow data indicates that foreign institutional investors (FIIs) net bought shares worth Rs 3,570.07 crore, and domestic institutional investors (DIIs) purchased Rs 553.17 crore worth of stocks on December 14.

As always, it's essential to conduct thorough research and seek advice from certified experts before making any investment decisions.