NIFTY OUTLOOK: 25492.30 | FII: Rs. 4581.34 cr | DII: Rs. 6674.77 cr
As discussed in the previous report dated 3rd November 2025, market behaviour remained on expected lines during the past week as sellers maintained control and dragged Nifty to a weekly low of 25,318 — close to our support of 25,358 — and closed the week at 25,492.30, also near our support zone of 25,480.
A normal bearish candle appeared on the weekly chart of Nifty, suggesting sellers have overpowered buyers. The price trend remains downward, reflecting bearish sentiment and continuation of the downtrend. Any further decline may find support around 25,371 to 25,250. A failure to defend these supports may lead to a slip towards 25,127 to 25,047–007.
Currently, there are no clear signs of reversal, but Nifty has retested all major breakouts seen in the recent past. Hence, some bounce is expected, which may face resistance around 25,613 to 25,735. A sustained move above these levels may push Nifty towards 25,855 to 25,977.
BANK NIFTY OUTLOOK
Spot: 57,876.80 | PCR: 0.91 | Max CE OI: 58,000 | Max PE OI: 58,000
On 7th November 2025, Bank Nifty closed at 57,876.80 (-322.55 / -0.56%). The index recorded a high of 58,001.35 and a low of 57,157.85 during the session.
Technical View
Key support and resistance levels are 57,577 and 58,176 respectively.
Intraday support and resistance are at 57,644 and 58,108 respectively.
Intraday Technical Strategy:
- Go long above 58,176 with a stop loss at 58,076 and target 58,476.
- Go short below 57,577 with a stop loss at 57,677 and target 57,277.
The Relative Strength Index (RSI) for the Bank Nifty index is at 60.00. Readings below 30 are considered oversold, while above 70 are overbought.
Bank nifty Day SMA Analysis:
Bank nifty is trading above 7 out of 8 SMA’s (5, 20, 30, 50, 100, 150, 200 Day).
Bank nifty is trading below 1 out of 8 SMA’s. (10 Day)
Bullish candlestick Pattern was identified in bank nifty on daily chart
- Engulfing Uptrend
Macro:
1.Dollar index is @ 99.505
2.S%P 500 Vix is @ 19.08 ( -0.42 )
3.Brent crude is @ 64.08
4.U . S. 10 years bond yield is @ 4.128
Note:
The U.S. Senate on Sunday appeared poised to move forward with a measure aimed at reopening the federal government and ending a 40-day shutdown that has sidelined federal workers, delayed food aid, and disrupted air travel.
Sunday marked the 40th day of the shutdown, which has affected food aid, national parks, and travel, while air traffic control staffing shortages now threaten to derail travel during the busy Thanksgiving holiday season later this month.
Meanwhile, tariff pressures have started to impact China, as exports unexpectedly fell in October after months of front-loading U.S. orders to beat President Donald Trump’s tariffs. This highlights the manufacturing giant’s continued reliance on American consumers, even as it seeks to diversify exports toward Southeast Asia and the European Union.
In India, consumer inflation likely dropped to its lowest level in at least a decade in October, driven by a sustained fall in food prices and a higher base effect from last year, according to a Reuters poll of economists. Inflation is cooling rapidly even as Asia’s third-largest economy grew nearly 8% in the April–June quarter. The central bank is expected to cut interest rates again next month.
Goldman Sachs has raised its Nifty target to 29,000 for 2026, projecting a healthy upside from 27,000. As highlighted earlier, Indian markets are expected to outperform once a U.S.–China trade deal is finalized—possibly after the Bihar elections, when the much-awaited announcement may come.
By Ashok Bhandari (RA)
SEBI Regd. No. INH00019549
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