Introduction: Market Enters a Cautious Phase Ahead of Year-End As markets approach the final trading sessions of the year, price action often becomes more selective, cautious, and technically driven. December 30, 2025, sits at a critical junction where traders are balancing year-end profit booking with positioning for the new calendar year. Liquidity is thinner than usual, participation is selective, and derivative positioning begins to carry more weight than fresh cash flows. According to market analyst Dhwani Patel, this phase requires traders to lower aggression, increase discipline, and focus purely on technical levels rather than narratives. When indices slip below short-term averages near year-end, the market often sends early signals about sentiment heading into January. This detailed trade setup for December 30, 2025, breaks down: Market Overview: Weakness Creeps Into the Short-Term Structure The broader market closed the previous session with clear signs of short-term weakness, especially in headline indices. Selling pressure was visible near resistance zones, and price failed to hold above short-term moving averages. While this does not automatically indicate a trend reversal, it does highlight a shift from bullish momentum to caution and consolidation. As Dhwani Patel notes, “Markets don’t reverse trends overnight; they first show loss of momentum, distribution, and failed follow-through.” Nifty 50 Technical Outlook for December 30, 2025 The Nifty 50 closed around 25,942, and the day’s candle formation reflects bearish sentiment in the near term. The index formed a bearish candle on the daily timeframe and slipped below its short-term moving averages, which often acts as an early warning sign for traders. Technical Structure Analysis While the broader structure is not decisively broken, the loss of short-term support indicates that bulls are losing immediate control, and rallies may face selling pressure unless strong demand re-emerges. Nifty 50 Key Levels to Watch On the upside, the first resistance area lies around 26,060–26,100, which aligns with previous supply zones and heavy call option concentration. A sustained move above this range would be required to revive short-term bullish momentum. Further resistance emerges closer to 26,175, a zone that has consistently capped rallies in recent sessions. On the downside, 25,920 acts as an immediate support. A break below this level may expose the index to 25,870 and eventually 25,800, which is a psychologically and technically important zone. Holding above this lower band is crucial to avoid deeper correction. As per Dhwani Patel, “When indices trade below short-term averages, traders should treat supports as decision zones, not buying zones.” Bank Nifty Technical Outlook for December 30, 2025 Bank Nifty closed near 58,932, and its structure appears relatively weaker than the Nifty. The index formed a bearish candle with upper and lower shadows, which points towards indecision and distribution rather than accumulation. Technical Structure Analysis This combination suggests that Bank Nifty is in a vulnerable short-term phase, and any upside attempts may face resistance unless the index quickly reclaims key moving averages. Bank Nifty Key Levels to Watch Immediate resistance for Bank Nifty is seen near 59,080–59,150, followed by a stronger zone near 59,300. Unless these levels are crossed with volume, upside may remain limited. On the downside, support lies near 58,830, followed by 58,750. A break below these levels could expose the index to 58,630, which is a critical Fibonacci-supported area. Holding above this zone is essential to prevent further deterioration. Dhwani Patel highlights that, “Banks often lead market reversals; weakness in Bank Nifty should never be ignored.” Nifty Options Data: What Derivatives Are Indicating Call Side Positioning The highest call open interest is concentrated near the 26,100 and 26,000 strikes, indicating strong resistance overhead. Heavy call writing around these strikes suggests that traders expect Nifty to remain capped below these levels in the near term. Significant call writing at the 26,000 level also reinforces the idea that rallies toward this zone may face aggressive selling. Unwinding activity at higher strikes indicates profit booking in earlier bullish bets. Put Side Positioning On the put side, maximum open interest is observed near the 25,900 strike, making it an important short-term support. However, noticeable put unwinding near the 26,000 strike suggests that traders are reducing bullish hedges, which aligns with growing caution. The overall structure points to a narrow and fragile support zone, rather than strong confidence among bullish participants. Bank Nifty Options Data: Defensive Bias Emerges Call Side Activity Bank Nifty shows heavy call concentration at 59,000, followed by higher strikes. Large-scale call writing at this level signals that traders are actively betting against immediate upside: a clear sign of bearish bias. Unwinding at higher strikes further confirms that optimism is fading in banking stocks for the short term. Put Side Activity Maximum put open interest is also concentrated near 59,000, creating a classic option writers’ battle zone. However, increased put writing at lower strikes such as 58,800 suggests participants are bracing for potential downside moves while collecting premiums. This structure reflects uncertainty rather than confidence, typically seen during market consolidation or early distribution phases. Put-Call Ratio (PCR): Sentiment Turns Bearish The Nifty Put-Call Ratio declined further to 0.68, slipping below the psychologically important 0.7 mark. Historically, a PCR below 0.7 indicates that call writing is dominating put writing, reflecting bearish or cautious sentiment among traders. As per Dhwani Patel, “A falling PCR during weak price action often confirms that sentiment is aligning with price, not fighting it.” India VIX: Volatility Shows Signs of Discomfort India VIX rose to 9.72, snapping a three-day losing streak. While volatility remains relatively low in absolute terms, this bounce suggests that some discomfort is creeping back into the market. Low VIX levels often precede sharp directional moves, especially when combined with weakening price structure. Though bulls are not in immediate danger, the rise in VIX signals that complacency is reducing. Trading Strategy for December 30, 2025 – Dhwani Patel’s View For this session, Dhwani Patel advocates a defensive and selective trading approach: Swing traders should prioritise capital preservation over profit maximisation during this phase. Key Risks to Watch Conclusion: Trade with Caution, Not

Introduction: Why This Week Is Crucial for Swing Traders The final trading sessions of the calendar year and the opening days of the new year often mark a transition phase in market behaviour. Liquidity becomes selective, volatility compresses at the index level, and stock-specific momentum dominates overall market movement. For swing traders, this period is less about broad market direction and more about identifying strong individual structures. According to market analyst Dhwani Patel, swing trading during such phases requires a shift in mindset. Instead of aggressive trading, traders must focus on clean technical structures, disciplined risk management, and confirmation-based entries. Stocks that show relative strength during low-volatility periods often become leaders once liquidity improves in the new year. This blog provides a detailed, technical swing trading outlook for the week December 29, 2025 to January 02, 2026, covering: This is not a list of tips, but a structured technical study meant for serious short-term traders. How These Swing Trading Stocks Are Selected The stocks covered in this analysis are selected based on: As Dhwani Patel explains, “A swing trader’s edge comes from trading structure, not opinion.” Short-Term Swing View | 3–10 Trading Sessions Stock Technical Structure Buy Zone (₹) Stop Loss (₹) Swing Targets (₹) Swing Bias City Union Bank Higher lows, pullback in uptrend 282–288 Below 274 305 / 320 Bullish Tenneco Clean Air Ascending channel 500–508 Below 486 540 / 565 Bullish Prime Focus Momentum breakout, high beta 235–242 Below 220 270 / 295 Strong Bullish Craftsman Automation Higher high–higher low 7,150–7,250 Below 6,950 7,800 / 8,200 Bullish Belrise Industries Base breakout 170–175 Below 160 195 / 210 Bullish Cupid Strong momentum expansion 450–465 Below 425 520 / 600 Very Strong Can Fin Homes Range consolidation 890–905 Below 865 980 / 1,020 Neutral → Bullish Ashapura Minechem Commodity-driven uptrend 860–875 Below 825 950 / 1,030 Strong Bullish Dynamatic Technologies Higher bottom formation 9,300–9,450 Below 9,000 10,100 / 10,700 Bullish Midwest Rising channel 1,600–1,630 Below 1,550 1,780 / 1,900 Strong Bullish Shreeji Shipping Global Breakout retest 330–340 Below 315 380 / 410 Bullish Swing Trading Stock Analysis – Technical Structure & Outlook City Union Bank City Union Bank continues to remain one of the stronger private banking names in the mid-cap space. Technically, the stock has been forming a higher-low structure, indicating accumulation rather than distribution. Despite short-term pullbacks, the price continues to respect its rising trendline and remains above key medium-term moving averages. From a swing trading perspective, the stock appears to be in a controlled pullback within an uptrend. As long as it holds above its recent support zone in the high-270s to low-280s region, the structure remains positive. A bounce from this zone can open up a short-term swing toward the previous resistance area around the psychological 300 mark and beyond. According to Dhwani Patel, City Union Bank is suitable for traders who prefer lower volatility and structurally clean setups rather than fast-moving momentum plays. Tenneco Clean Air Tenneco Clean Air is trading within a well-defined ascending channel, which is a classic swing trading structure. The stock has been making higher highs while corrections remain shallow, suggesting strong participation from positional buyers. Technically, the stock shows signs of trend continuation, with every dip attracting buying interest near short-term supports. As long as the price sustains above the 490–500 zone on a closing basis, the probability favours further upside. Swing traders can expect continuation moves toward higher resistance zones if the broader auto ancillary space remains supportive. Dhwani Patel points out that stocks like Tenneco Clean Air are ideal for patience-driven swing trades, where traders enter near demand and allow the trend to unfold gradually. Prime Focus Prime Focus is a high-beta momentum stock, and it clearly reflects that character on the charts. The stock has delivered strong short-term returns and continues to trade in a momentum expansion phase. Volatility is elevated, and price swings are sharp, which makes it unsuitable for conservative traders. From a technical standpoint, the stock has broken out of its consolidation base and is now using previous resistance zones as support. As long as the stock holds above the low-230s region, the momentum structure remains intact. Any consolidation above this zone may act as a launchpad for the next swing leg. According to Dhwani Patel, Prime Focus should be traded only with reduced quantity and strict trailing stop-loss, as momentum stocks can reverse quickly once profit booking begins. Craftsman Automation Craftsman Automation continues to display a classic higher-high–higher-low formation on the daily chart. The stock has respected its trend structure well and has avoided deep corrections, which is a positive sign for swing traders. The technical structure suggests that the stock is currently in a healthy consolidation after an up-move, rather than a trend breakdown. Holding above the 7,000–7,100 zone keeps the swing bias positive. A sustained move above recent consolidation highs can lead to a renewed momentum phase. As per Dhwani Patel, this stock suits traders who prefer structured, less noisy price action with clear invalidation levels. Belrise Industries Belrise Industries has shown signs of base formation followed by a gradual breakout. The stock’s price behaviour suggests accumulation, with volumes picking up during upward moves while remaining muted during pullbacks. Technically, the stock is transitioning from a sideways phase to a potential trend initiation stage. As long as it sustains above the mid-160s region, the structure remains constructive. Swing traders can expect incremental upside rather than explosive moves, making it suitable for low-stress swing trading. Dhwani Patel notes that stocks like Belrise often reward traders who enter early in the trend and allow time to work in their favour. Cupid Cupid is one of the strongest momentum stocks in the current market setup. The stock has delivered exceptional 3-month returns and continues to trade with aggressive price expansion. Technically, it is in a strong uptrend with shallow retracements, which is typical of leadership stocks. However, with strength comes risk. The stock is extended, and volatility is high. From a swing

Market Overview Indian equity markets head into the December 29 trading session with a cautious undertone, following signs of short-term weakness in both benchmark indices. After a strong rally earlier in the month, markets are now showing symptoms of fatigue as profit booking increases near higher levels. According to market analyst Dhwani Patel, the current setup reflects a pause in momentum rather than a full-fledged reversal, but traders must remain alert as downside risks have started to increase. Technical indicators are cooling, options data shows rising Call writing at resistance levels, and volatility remains extremely low—often a precursor to sharper directional moves. With the year nearing its end and liquidity thinning, traders should shift focus from aggressive positioning to risk-controlled, level-based trading. Nifty 50: Technical Outlook Current Level: 26,042 The Nifty 50 formed a bearish candle with minor upper and lower shadows on the daily chart, reflecting uncertainty and selling pressure at higher levels. Notably, this session marked the first lower-high–lower-low formation in the last five sessions, suggesting that momentum has slowed. Key Technical Observations Momentum Indicators As per Dhwani Patel, these signals collectively point toward cautious sentiment with increasing downside risk if key support zones fail to hold. Key Levels for Nifty 50 Resistance (Pivot-Based): Support (Pivot-Based): Holding above 25,981–26,013 is crucial to avoid further downside. A decisive break below this zone could invite deeper correction. Bank Nifty: Technical Outlook Current Level: 59,011 Bank Nifty also reflected weakness, forming a bearish candle with long upper and lower shadows, highlighting volatility and indecision. Unlike earlier sessions, the index failed to sustain above short-term moving averages. Key Technical Observations Momentum Indicators According to Dhwani Patel, Bank Nifty’s structure reflects a weak short-term trend, with upside likely to remain capped unless strong buying emerges near support. Key Levels for Bank Nifty Resistance (Pivot-Based): Support (Pivot-Based): Fibonacci Resistance: Fibonacci Support: Sustaining below 59,136 keeps the bias weak for the index. Nifty Options Data: Monthly Expiry Analysis Call Options Activity The 26,200 strike holds the maximum Call open interest at 1.91 crore contracts, acting as a strong resistance. Other significant Call OI levels include: Fresh Call Writing Observed At: Call Unwinding Seen At: This heavy Call writing near current levels highlights strong resistance overhead. Nifty Put Options Data Put Options Activity The 26,000 strike holds the maximum Put open interest at 1.49 crore contracts, acting as a crucial support zone. Other notable levels: Put Writing Observed At: Put Unwinding Seen At: As noted by Dhwani Patel, the combination of Put unwinding at higher levels and Call writing near resistance suggests weakening bullish confidence. Bank Nifty Options Data: Monthly Expiry Call Options Activity The 59,500 strike holds the maximum Call open interest at 20.99 lakh contracts, followed closely by: Fresh Call Writing Seen At: Call Unwinding Seen At: This highlights persistent selling pressure near resistance. Bank Nifty Put Options Data Put Options Activity The 59,000 strike holds the maximum Put open interest at 14 lakh contracts, acting as immediate support. This is followed by: Put Writing Observed At: Put Unwinding Seen At: Options data points toward range-bound to weak sentiment. Put-Call Ratio (PCR) The Nifty Put-Call Ratio dropped sharply to 0.76, from 0.98 in the previous session. Interpretation As per Dhwani Patel, PCR moving toward 0.7 often aligns with market consolidation or corrective phases. India VIX India VIX closed at a fresh record low of 9.15, down 0.44 percent. What Low VIX Signals Low volatility combined with weakening momentum calls for extra caution. Trading Strategy for December 29, 2025 (Dhwani Patel’s View) According to Dhwani Patel, traders should adopt a defensive approach: Conclusion The trade setup for December 29, 2025, reflects a cautious and weakening short-term outlook, especially after the emergence of lower-high formations in Nifty and sustained weakness in Bank Nifty. While long-term trends remain intact, the near-term structure suggests increased downside risk unless key supports hold. As emphasised by Dhwani Patel, discipline and patience will be critical in navigating year-end market conditions. Disclosure & Disclaimer Dhwani Patel (SEBI Registration No: INH200008608) is a SEBI-registered Research Analyst.All views are for educational purposes only. This is not investment advice. Please consult your financial advisor before trading. Frequently Asked Questions (FAQs) Q1. Is the market bearish on December 29, 2025?The market shows cautious to weak signals in the short term, though no major breakdown has occurred yet. Q2. What is the key Nifty support level?The 26,000 zone remains a critical support for Nifty. Q3. Why is falling PCR important?A falling PCR indicates increasing bearish sentiment due to higher Call selling. Q4. Does low India VIX support bulls?Low VIX supports stability but also increases the risk of sudden sharp moves. Q5. Should traders trade aggressively today?No, traders should remain selective and risk-conscious.

Market Overview Indian equity markets head into the December 24 trading session after a phase of strong upside momentum followed by mild consolidation. The previous session reflected indecision rather than weakness, suggesting that market participants are pausing to reassess positions after the recent rally. According to market analyst Dhwani Patel, the broader market structure continues to remain positive, even though short-term consolidation has emerged. Price action across benchmark indices indicates that bulls are still in control, but fresh triggers may be required for the next leg of the rally. Low volatility, improving momentum indicators, and supportive options data collectively indicate that the underlying trend remains constructive, though traders should be prepared for range-bound movement in the near term. Nifty 50: Technical Outlook Current Level: 26,177 The Nifty 50 formed a small-bodied bearish candle with upper and lower shadows on the daily timeframe. Such a candle structure typically signals indecision, especially after a sharp move higher. Importantly, this does not indicate trend reversal but rather a pause within an ongoing uptrend. Key Technical Observations This behaviour reflects healthy consolidation rather than distribution. Momentum Indicators As per Dhwani Patel, these indicators confirm that the positive underlying momentum is still intact, even though the index may spend some time consolidating. Key Levels for Nifty 50 Resistance (Pivot-Based): Support (Pivot-Based): A sustained hold above 26,062–26,106 keeps the bullish structure intact. Any move above 26,247 could invite fresh momentum buying. Bank Nifty: Technical Outlook Current Level: 59,300 Bank Nifty also reflected indecision, forming a bearish candle with upper and lower shadows on the daily chart. Despite this, the broader structure remains positive, with the index continuing to print higher top–higher bottom formations. Key Technical Observations This behaviour suggests that the banking index is digesting recent gains rather than reversing. Momentum Indicators According to Dhwani Patel, Bank Nifty is displaying a cautious yet positive bias, indicating that dips may continue to attract buying interest. Key Levels for Bank Nifty Resistance (Pivot-Based): Support (Pivot-Based): Fibonacci Resistance: Fibonacci Support: Holding above 59,121–59,192 keeps the bullish bias intact. Nifty Options Data: Monthly Expiry Analysis Call Options Activity The 27,000 strike holds the maximum Call open interest at 1.1 crore contracts, making it a major resistance zone for the index in the near term. Other notable strikes include: Fresh Call Writing Observed At: Call Unwinding Seen At: This data indicates that traders are booking profits on lower strikes and positioning cautiously near higher resistance levels. Nifty Put Options Data Put Options Activity On the Put side, the 26,000 strike holds the maximum Put open interest at 1.19 crore contracts, acting as a strong support base. This is followed by: Put Writing Observed At: Put Unwinding Seen At: As highlighted by Dhwani Patel, sustained Put writing near higher strikes indicates that market participants continue to defend downside levels. Bank Nifty Options Data: Monthly Expiry Call Options Activity The 59,500 strike holds the maximum Call open interest at 20.15 lakh contracts, acting as a key resistance zone. Other significant levels include: Fresh Call Writing Seen At: Call Unwinding Observed At: Bank Nifty Put Options Data Put Options Activity The 59,000 strike continues to hold the maximum Put open interest at 13.96 lakh contracts, followed by: Put Writing Observed At: Put Unwinding Seen At: This positioning suggests strong downside cushioning for Bank Nifty. Put-Call Ratio (PCR) The Nifty Put-Call Ratio declined to 1.14, from 1.42 in the previous session. How to Interpret This Move According to Dhwani Patel, a cooling-off in PCR after a sharp rise is often healthy and supports market stability. India VIX India VIX fell 3.07% to a fresh record closing low of 9.38, remaining well below all key moving averages. This reflects a strong comfort zone for bulls. Low volatility environments: Traders should therefore maintain disciplined risk management. Trading Strategy for December 24, 2025 (Dhwani Patel’s View) As per Dhwani Patel, traders should consider the following approach: Markets in consolidation phases often reward patience more than aggression. Conclusion The trade setup for December 24, 2025, reflects a phase of healthy consolidation within an ongoing uptrend. Both Nifty and Bank Nifty continue to hold above key supports, momentum indicators remain positive, and options data suggests strong downside protection. As emphasised by Dhwani Patel, the broader trend remains constructive, and traders should treat near-term dips as potential opportunities rather than signs of weakness—while remaining cautious near resistance levels.

Indian equity markets head into the December 23 trading session with a strong bullish undertone, following a decisive breakout witnessed in the previous session. Benchmark indices not only extended gains but also cleared key resistance levels that had capped upside momentum over the past few sessions. According to market analyst Dhwani Patel, the current market structure reflects trend continuation rather than a temporary bounce, supported by improving momentum indicators, aggressive Put writing in the derivatives segment, and sustained price action above all major moving averages. While volatility remains low, price behaviour suggests that bulls continue to dominate the near-term trend. Traders, however, are advised to remain disciplined and trade based on levels rather than emotions, as markets are now approaching higher resistance zones. Nifty 50: Technical Outlook Current Level: 26,172 The Nifty 50 formed a long bullish candle on the daily chart, marking another session of higher high–higher low formation. This confirms the continuation of the prevailing uptrend and highlights a decisive breakout above the crucial 26,000 psychological level. Key Technical Developments This combination reflects a structurally strong setup where buyers remain firmly in control. Momentum Indicators As per Dhwani Patel, these indicators collectively confirm that bullish momentum is not only intact but also expanding gradually. Key Levels for Nifty 50 Resistance (Pivot-Based): Support (Pivot-Based): As long as the index sustains above 26,083–26,001, the bullish structure remains intact. Intraday dips toward support zones may attract fresh buying interest. Bank Nifty: Technical Outlook Current Level: 59,304 Bank Nifty extended its upward momentum and formed a bullish candle with small upper and lower shadows, signalling continuation of the uptrend despite intraday volatility. The index also registered a breakout above a down-sloping resistance trendline, which shifts the short-term structure decisively in favour of bulls. Key Technical Observations Momentum Indicators According to Dhwani Patel, this setup indicates improving momentum with a positive bias, though Bank Nifty may witness short-term consolidation near resistance levels. Key Levels for Bank Nifty Resistance (Pivot-Based): Support (Pivot-Based): Fibonacci Resistance: Fibonacci Support: Holding above 59,061–59,195 keeps the broader bullish trend intact. Nifty Options Data: Weekly Expiry Analysis Call Options Activity The 26,200 strike holds the highest Call open interest at 1.05 crore contracts, acting as a near-term resistance zone. This is followed by: Fresh Call Writing Seen At: Call Unwinding Observed At: Heavy unwinding at lower strikes clearly indicates short covering, which is supportive of further upside. Nifty Put Options Data Put Options Activity The 26,100 strike holds the maximum Put open interest at 1.69 crore contracts, establishing a strong support base. Other key levels include: Aggressive Put Writing Seen At: Put Unwinding Seen At: As per Dhwani Patel, such aggressive Put writing near higher strikes reflects strong bullish conviction among market participants. Bank Nifty Options Data: Monthly Expiry Call Options Activity The 59,500 strike holds the highest Call open interest at 19 lakh contracts, making it a key resistance level. This is followed by: Call Writing Observed At: Call Unwinding Seen At: Bank Nifty Put Options Data Put Options Activity The 59,000 strike holds the maximum Put open interest at 14.07 lakh contracts, followed by: Put Writing Seen At: Put Unwinding Observed At: This positioning confirms strong downside protection for Bank Nifty. Put-Call Ratio (PCR) The Nifty Put-Call Ratio surged to 1.42, rising sharply from 1.13 in the previous session. What a High PCR Indicates However, Dhwani Patel cautions that extremely high PCR readings may sometimes lead to short-term consolidation. India VIX India VIX rose 1.6% to 9.67, snapping a four-day declining streak. Despite the rise, volatility remains in the lower comfort zone, which continues to support bullish price action. Low volatility environments often favour trend continuation but can also result in sudden sharp moves, making risk management critical. Trading Strategy for December 23, 2025 (Dhwani Patel’s View) According to Dhwani Patel, traders should follow a structured approach: Risk management remains more important than prediction accuracy. Conclusion The trade setup for December 23, 2025, clearly reflects a bullish continuation phase for both Nifty and Bank Nifty. Strong breakouts above critical resistance levels, aggressive Put writing, rising momentum indicators, and a sharply higher PCR collectively reinforce the positive outlook. As highlighted by Dhwani Patel, sustaining above key support levels will be crucial for the rally to extend further. Traders should remain disciplined, respect levels, and avoid emotional decision-making as markets trade near higher zones. Disclosure & Disclaimer Dhwani Patel (SEBI Registration No: INH200008608) is a SEBI-registered Research Analyst.All views are for educational purposes only. This is not investment advice. Please consult your financial advisor before trading.

Introduction: Weekly Swing Trading Outlook Swing trading is all about capturing short-term price movements that typically unfold over a few days to a couple of weeks. Unlike intraday trading, swing trading allows traders to take advantage of broader price trends, momentum shifts, and volume expansion without constantly tracking minute-by-minute fluctuations. For the week December 22–26, 2025, Indian equity markets are entering a crucial phase. Benchmark indices have shown signs of recovery after recent consolidation, volatility remains historically low, and sector-specific momentum is beginning to emerge. These conditions often create favourable opportunities for swing traders who rely on technical structure, volume confirmation, and risk-defined setups. In this weekly report, Dhwani Patel highlights a curated list of top swing trading stocks across large-cap, mid-cap, and small-cap segments, based on price structure, momentum strength, and relative performance. IDFC First Bank IDFC First Bank continues to attract interest from swing traders due to its improving trend structure. Technical Structure: Swing Trading Levels (Indicative): Federal Bank Federal Bank remains one of the better-placed private banks for positional and swing setups. Technical Structure: Swing Trading Levels (Indicative): Bharti Airtel Bharti Airtel continues to trade in a steady upward channel and remains a defensive swing candidate. Technical Structure: Swing Trading Levels (Indicative): Laurus Labs Laurus Labs has shown renewed strength after a prolonged correction phase. Technical Structure: Swing Trading Levels (Indicative): Hindustan Copper Hindustan Copper remains one of the strongest momentum stocks in the metals space. Technical Structure: Swing Trading Levels (Indicative): Mid & Small-Cap Stocks for Aggressive Swing Traders These stocks offer higher volatility and faster price movement, making them suitable for experienced swing traders with disciplined risk management. Prime Focus Prime Focus has delivered sharp moves recently and remains a momentum-driven stock. Support: ₹205 – ₹210Resistance: ₹235 – ₹245 Anupam Rasayan Specialty chemical stocks continue to attract attention. Support: ₹1,280 – ₹1,300Resistance: ₹1,380 – ₹1,420 India Cements India Cements is showing gradual improvement in price structure. Support: ₹420 – ₹430Resistance: ₹465 – ₹480 JK Tyre & Industries JK Tyre has witnessed strong recent price action with volume expansion. Support: ₹455 – ₹465Resistance: ₹520 – ₹535 Can Fin Homes Housing finance stocks remain in focus. Support: ₹905 – ₹920Resistance: ₹980 – ₹1,010 Cupid Ltd Cupid has delivered exceptional momentum and remains highly volatile. Support: ₹420 – ₹430Resistance: ₹490 – ₹520 Gujarat Pipavav Port A relatively stable swing setup with lower volatility. Support: ₹185 – ₹188Resistance: ₹205 – ₹215 Indian Metals & Ferro Alloys Metal-linked stock showing recovery from lower levels. Support: ₹1,360 – ₹1,380Resistance: ₹1,480 – ₹1,520 Ashapura Minechem Strong participation from swing traders recently. Support: ₹760 – ₹770Resistance: ₹825 – ₹850 Fiem Industries Auto ancillary stock showing gradual accumulation. Support: ₹2,320 – ₹2,350Resistance: ₹2,520 – ₹2,580 Anondita Medicare Highly volatile small-cap with aggressive momentum. Support: ₹720 – ₹735Resistance: ₹820 – ₹860 Swing Trading Strategy for the Week According to Dhwani Patel, traders should focus on: Low volatility phases often end with sharp directional moves, making risk management more important than stock selection. Conclusion The week December 22–26, 2025 presents multiple swing trading opportunities across sectors such as metals, banking, auto, and specialty chemicals. While large-cap stocks offer stability, mid- and small-cap stocks provide momentum-driven setups for aggressive traders. As always, discipline, patience, and risk control will determine trading success more than predictions. Disclaimer This analysis is prepared by Dhwani Patel (SEBI Registered Research Analyst – INH200006608).All information is for educational purposes only and should not be considered investment advice.Trading in securities involves significant risk; please consult your financial advisor before investing.

Indian equity markets enter the December 22 session on a stronger footing, supported by improving technical signals and firm options positioning. After a volatile phase last week, benchmarks have shown resilience by defending key supports and negating recent bearish structures. According to market expert Dhwani Patel, the broader setup now reflects strengthening bullish momentum, though traders should continue to track resistance levels closely. Low volatility and rising risk appetite suggest the possibility of sharper intraday moves. Nifty 50 Technical Outlook Current Level: 25,966 The Nifty 50 formed a bullish candle after a gap-up opening, with small upper and lower shadows—indicating positive sentiment despite intraday volatility. Importantly, the index invalidated the lower high–lower low structure seen over the previous four sessions. The benchmark successfully defended the 50-day EMA and the rising support trendline. It also closed above short-term moving averages and broke past the falling resistance trendline, signalling a shift in market structure. Momentum indicators are turning supportive: Overall, these signals point toward strengthening bullish bias. Key Levels for Nifty 50 Resistance (Pivot-Based): Support (Pivot-Based): Sustaining above 25,904 keeps the upside intact, while a move beyond 26,016 could open further room for gains. Bank Nifty Technical Outlook Current Level: 59,069 Bank Nifty traded within the previous session’s range and formed a Doji-like candlestick, following an inverted hammer pattern earlier—highlighting indecision at higher levels. The index continues to hold above the rising support trendline but closed marginally below the 10- and 20-day EMAs, even as volumes remained above average. This suggests cautious participation rather than aggressive selling. Momentum indicators show gradual improvement: This combination indicates cautious optimism, with confirmation needed through price action. Key Levels for Bank Nifty Resistance (Pivot-Based): Support (Pivot-Based): Fibonacci Resistance: Fibonacci Support: Nifty Options Data – Weekly Expiry Call Options Activity The 26,000 strike holds the highest Call open interest at 1.29 crore contracts, making it a crucial resistance zone. Other notable levels include: Fresh Call writing was seen at: Maximum Call unwinding occurred at: Nifty Put Options Activity On the Put side, the 25,900 strike carries the maximum Put open interest at 1.3 crore contracts, acting as a strong support area. This is followed by: Put writing was highest at: Maximum Put unwinding was observed at: Bank Nifty Options Data – Monthly Expiry Call Options Activity The 59,500 strike holds the highest Call open interest at 18.02 lakh contracts, emerging as a key resistance. Other levels include: Fresh Call writing was concentrated at: Maximum Call unwinding was recorded at: Bank Nifty Put Options Activity The 59,000 strike has the highest Put open interest at 13.98 lakh contracts, followed by: Put writing was strongest at: Put unwinding was highest at: Put-Call Ratio (PCR) The Nifty Put-Call Ratio jumped to 1.13, up sharply from 0.83 in the previous session. A PCR above 1 reflects increased Put writing relative to Calls, typically signalling strengthening bullish sentiment and growing confidence among traders. India VIX India VIX declined further by 1.91% to 9.52, marking an all-time closing low and extending its downtrend for the fourth straight session. While such low volatility supports bullish undertones, it also raises the probability of sudden sharp moves, making risk management essential. Conclusion The trade setup for December 22, 2025, indicates renewed bullish strength, supported by improving technical indicators, strong Put writing, and a rising PCR. As highlighted by Dhwani Patel, sustaining above key support zones will be crucial for the rally to extend, while resistance near higher levels may invite short-term profit booking. Traders are advised to remain disciplined and trade with clearly defined levels amid low-volatility conditions.

Market Overview Indian equity markets showed tentative signs of stabilisation in the previous session after recent weakness. Both benchmark indices attempted a recovery during intraday trade but struggled to sustain higher levels. According to market experts such as Dhwani Patel, the current setup reflects a phase of consolidation where selective buying may emerge, but confirmation through momentum indicators is still awaited. With volatility at historically low levels and options data indicating mixed positioning, traders should remain cautious and focus on clearly defined support and resistance zones. Nifty 50 Technical Outlook Current Level: 25,816 The Nifty 50 formed a bullish candle on the daily chart, featuring a long upper shadow and a small lower shadow. This structure resembles an inverted hammer–type formation, which is often associated with a potential reversal after a decline, though it does not qualify as a textbook pattern. The index continues to oscillate between short-term and medium-term moving averages on a closing basis, reflecting indecision. Despite the bullish candle, momentum indicators remain under pressure. The RSI declined further to 46.37, staying below the neutral mark, while the MACD moved closer to the zero line with continued weakness in the histogram. Overall, the setup suggests cautious optimism, but upside momentum remains limited unless key resistance levels are decisively crossed. Key Levels for Nifty 50 Resistance (Pivot-Based): Support (Pivot-Based): A sustained move above 25,924 could improve sentiment, while a breakdown below 25,706 may invite renewed selling pressure. Bank Nifty Technical Outlook Current Level: 58,913 Bank Nifty also formed a bullish candle with a long upper shadow, indicating that selling pressure may be easing. The index attempted to reclaim the 20-day EMA during intraday trade and managed to close above the previous session’s low. Importantly, Bank Nifty held above its rising support trendline, suggesting underlying demand at lower levels. However, momentum indicators continue to reflect weakness. The RSI slipped to 49.58, while the MACD remained below its reference line, with the histogram showing further deterioration. This points to tentative stabilisation rather than a confirmed reversal. Key Levels for Bank Nifty Resistance (Pivot-Based): Support (Pivot-Based): Fibonacci Resistance: Fibonacci Support: Nifty Options Data – Weekly Expiry Call Options Activity The 26,000 strike continues to hold the highest Call open interest at 1.27 crore contracts, making it a key near-term resistance. Other notable Call OI levels include: Fresh Call writing was observed at: Maximum Call unwinding occurred at: Nifty Put Options Activity On the Put side, the 25,500 strike holds the maximum Put open interest at 74.18 lakh contracts, acting as a strong support zone. This is followed by: Put writing was highest at: Maximum Put unwinding was seen at: Bank Nifty Options Data – Monthly Expiry Call Options Activity The 59,500 strike holds the maximum Call open interest at 18.32 lakh contracts, emerging as a strong resistance level. This is followed by: Fresh Call writing was observed at: Maximum Call unwinding was recorded at: Bank Nifty Put Options Activity The 59,000 strike holds the highest Put open interest at 12.83 lakh contracts, followed by: Put writing was strongest at: Put unwinding was highest at: Put-Call Ratio (PCR) The Nifty Put-Call Ratio rose to 0.83, compared to 0.77 in the previous session. A rising PCR indicates increased Put selling relative to Calls, often signalling improving confidence and a gradual shift toward bullish sentiment. However, the ratio remains below 1, suggesting optimism is still moderate rather than aggressive. India VIX India VIX declined for the third straight session, falling 1.32% to 9.7, marking a fresh closing low. Such low volatility typically favours bulls in the short term but also raises the risk of a sudden, sharp move in either direction. Conclusion The trade setup for December 19, 2025, points toward early stabilisation with cautious undertones. While candle structures on both Nifty and Bank Nifty hint at a possible reversal, weak momentum indicators and heavy resistance overhead suggest traders should remain selective and disciplined. As highlighted by Dhwani Patel, confirmation through sustained price action above key resistance levels will be crucial before adopting an aggressive bullish stance. Disclaimer This analysis is prepared by Dhwani Patel (SEBI Registered Research Analyst – INH200006608).All information is for educational purposes only and should not be considered investment advice.Trading in securities involves significant risk; please consult your financial advisor before investing.