The markets extended their positive tone as benchmark indices continued to show signs of improving momentum. With buying emerging at lower levels and the volatility index cooling further, traders may expect a constructive start to the new week. Here’s a complete breakdown of the Nifty, Bank Nifty, options activity, PCR, and India VIX to help you plan your trades for December 15, 2025.

1) Key Levels for the Nifty 50 (26,047)

Resistance (Pivot Points):

• 26,060
• 26,088
• 26,134

Support (Pivot Points):

• 25,969
• 25,941
• 25,895

Special Formation:

The Nifty formed another bullish candle on the daily chart, indicating sustained buying interest. The index also reclaimed the 10-day and 20-day EMAs, along with the midline of the Bollinger Bands, strengthening the short-term trend.

Momentum indicators provided mixed signals:

• RSI moved higher but remained below the reference line
• Stochastic RSI turned bullish
• MACD stayed below the signal line, though histogram weakness continued to fade

Interpretation: Early signs of strengthening momentum are visible, but confirmation will depend on follow-through buying above key resistance zones.

2) Key Levels for the Bank Nifty (59,390)

Resistance (Pivot Points):

• 59,509
• 59,585
• 59,708

Support (Pivot Points):

• 59,264
• 59,189
• 59,066

Fibonacci Levels:

• Resistance: 59,455, 60,875
• Support: 58,985, 58,636

Special Formation:

The Bank Nifty formed a Doji pattern, suggesting indecision after the previous bullish session. The index reclaimed the 10-day EMA and midline of the Bollinger Bands, but failed to surpass the previous day’s high.

Indicators showed moderate improvement:

• RSI saw a bullish crossover and moved to 58.21
• MACD remained below the reference line
• Histogram weakness slightly decreased

Interpretation: The index is showing cautious optimism with consolidation likely before a decisive move.

3) Nifty Call Options Data

• Max Call OI:
  • 26,500 strike (1.18 crore contracts) – major resistance
  • 26,200 strike (96.74 lakh)
  • 26,300 strike (90.66 lakh)
• Highest Call Writing:
  • 26,050 strike (+18.61 lakh)
  • 26,500 strike (+14.55 lakh)
  • 26,350 strike (+13.33 lakh)
• Max Call Unwinding:
  • 25,900 strike (-40.95 lakh)
  • 25,950 strike (-20.42 lakh)
  • 26,000 strike (-18.99 lakh)

Interpretation: Strong resistance is forming around 26,050–26,500, with aggressive call writing at overhead levels.

4) Nifty Put Options Data

• Max Put OI:
  • 26,000 strike (1.31 crore contracts) – key short-term support
  • 25,800 strike (1.24 crore)
  • 25,900 strike (1.14 crore)
• Highest Put Writing:
  • 26,000 strike (+87.63 lakh)
  • 25,950 strike (+53 lakh)
  • 25,900 strike (+45.18 lakh)
• Max Put Unwinding:
  • 25,350 strike (-3.71 lakh)
  • 25,450 strike (-1.25 lakh)
  • 25,400 strike (-81,675)

Interpretation: Strong Put writing at 26,000 signals buyers defending support actively.

5) Bank Nifty Call Options Data

• Max Call OI:
  • 60,000 strike (14.98 lakh contracts)
  • 59,500 strike (13.35 lakh)
  • 61,000 strike (8.37 lakh)
• Top Call Writing:
  • 60,000 strike (+84,000 contracts)
  • 58,500 strike (+68,075 contracts)
  • 58,800 strike (+60,760 contracts)
• Max Call Unwinding:
  • 59,100 strike (-56,455)
  • 59,200 strike (-54,810)
  • 59,500 strike (-49,945)

Interpretation: Heavy writing at 60,000 confirms it as a strong resistance zone.

6) Bank Nifty Put Options Data

• Max Put OI:
  • 59,500 strike (16.85 lakh contracts)
  • 59,000 strike (13.19 lakh)
  • 58,500 strike (10.6 lakh)
• Highest Put Writing:
  • 58,500 strike (+1.06 lakh contracts)
  • 59,400 strike (+73,010)
  • 59,000 strike (+65,555)
• Max Put Unwinding:
  • 60,000 strike (-55,195)
  • 58,000 strike (-34,335)
  • 58,700 strike (-23,730)

Interpretation: Strong positioning at 59,500 supports bullish sentiment.

7) Put-Call Ratio (PCR)

• PCR increased to 1.15 (previous: 0.94)

A rising PCR above 0.7 generally indicates strengthening bullish sentiment as traders build Put positions.

Interpretation: Optimism rising among market participants.

8) India VIX

• India VIX slipped 2.81% to 10.11
• Lowest closing level since October 10
• Sustaining below all major moving averages

Low VIX indicates reduced fear and greater stability, though extremely low levels may precede sharp market swings.

Conclusion: What Traders Should Expect

• Nifty shows improving momentum, but needs follow-through above 26,100+
• Bank Nifty is in a consolidation-plus-optimism zone
• Options data shows strong support at 26,000 and resistance at 26,500
• Declining VIX gives comfort but also warns of potential sharp swings

Overall, markets are leaning moderately bullish but demand confirmation through sustained breakouts.

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.