21st Dec 2023 #Nifty Intraday Levels and Pre-Market Reports

Nifty last close: 21150.15 (-1.4%)

The market went from new highs to a steep fall within hours
As the benchmarks wiped out the morning gains to close near the day’s low on December 20 on wide-spread selling
Nifty was made a fresh all time high 21593 then seen sharp selling pressure in the last 2 hours
Nifty registers biggest single-session in over 9 months; Falls over 400 points off day’s high
Nifty was down 302.90 points, or 1.41 percent, at 21,150.20
Sensex was down 930.88 points, or 1.30 percent, at 70,506.31
The market opened gap-up to climb to record highs in the first hour of the trade
With the Sensex touching 71,913.07 and the Nifty 21,593
Midcap index posts biggest single-day fall since Dec 23, 2022
Midcap and smallcap indices declined more than 3 percent each
All the sectoral indices ended in the red
Auto, capital goods, metal, pharma, oil & gas, power and realty were down 2-4 percent
SEBI, NSDL and NSE may have to pay over Rs 1,400-cr compensation to Karvy lenders post SAT order
Foreign institutional investors (FIIs) net sold shares worth Rs 1,322.08 crore
While domestic institutional investors (DIIs) bought Rs 4,754.34 crore worth of stocks on December 20
US markets ended sharp selling pressure in the last 2 hours on Dec 20
The Dow Jones Industrial Average fell 475.92 points, or 1.27 percent, to 37,082
Nasdaq declined 1.50% and S&P500 fell 1.47%
US VIX spiked 10% to 16
S&P 500 erased ~$600 billion of market cap
To put this in perspective, the S&P 500 added ~$600 billion of market cap over the last week
The index was up for 10 straight days but erased 5 of those daily gains in 2 hours
US 10-year yield hits lowest level in 5 months at 3.85%
Brent crude futures settled up 47 cents, or 0.6 percent, at $79.70 a barrel
Spot gold fell 0.2 percent to $2,035.97 per ounce
Asian markets indicates a lower opening

GiftNifty indicates a negative opening for the index
Nifty can be considered as supports as 21060 and 21000
Below 21000 finding a next support around 20900

On other side, Nifty is facing a intraday resistance 21180 and 21250
If stays above 21250 will try to move 21330
Stay caution at higher levels and avoid fresh buying at higher levels

Updated: 08.52 am / 21st Dec 2023