Daily Morning Report – 12/11/2026

Date 12.11.2026

Technical Summary Nifty CMP 25,255.05

As discussed yesterday market behaviour remained on the expected lines during the day, as driven by an inherently strong underlying structure and a sustained broader positive trend, Nifty resumed its uptrend following the previous day’s pause. The index rallied sharply to an intraday high of 25424.35. However, intense selling pressure at higher levels subsequently dragged Nifty down to a day’s low of 25095.35. A solid recovery from lower levels in the final hours eventually pushed the index to settle at 25255.05.

Further, a bearish spinning top candle appearing after a prolonged rally near a key resistance level signals severe market indecision. When a hammer (hanging man) is immediately followed by a spinning top at the peak of a long rally, it highlights a highly volatile, two-day struggle where the bulls are rapidly losing control. This specific sequence marks a classic exhaustion phase and serves as an early warning of a potential trend reversal. These factors collectively favour the bears. Consequently, if the bears take control, a decisive break down below 25168 could cause Nifty to slide toward the 25081–24993 zone. If the selling intensity sustains, the index may further drift down toward 24907.

Further these kind of structure after a rapid rally indicates that Instead of continuing the rally the market gets stuck, but the underlying market structure remains inherently strong with a continuation of the broader positive trend favour the bulls. Hence if bulls will re strike and take the control of nifty may face immediate resistance of 25341 to 25430. If break through above these resistances and sustain may push the nifty rally further upto 25513 to 25603.

Bank nifty:

• Bank Nifty closed at 60,792.40 , Up +1051.15(+1.76%)
• Immediate resistance: 61,100–61,300
• Major resistance: 61,750–62,000
• Immediate support: 60,500–60,300
• Major support: 60,000–59,835
• Sustaining above 61,400 may extend the bullish A move below 60,300 could lead to short-term consolidation.

3. Pivot Levels:

Classic pivot levels calculated from 11 November 2026 OHLC data.

Nifty: The nearest weekly expiry is 17 November 2026. The option-chain snapshot shows PCR around 0.77, with max pain near 25,100. The highest call OI is at 26,000, while the highest put OI is at 24,500. However, the near-spot call activity around 25,500 is also important to monitor. The relatively low PCR indicates heavier call positioning, so Nifty may face resistance around 25,400–25,500 in the immediate term.

Bank Nifty: For the 23 November expiry, the option-chain snapshot shows PCR around 1.17 and max pain near 58,000. The highest call OI is at 60,500, while the highest put OI is at 57,000. Another snapshot shows significant call and put positioning around 60,500. This makes 60,500 an important level to monitor, although strong price momentum may keep the broader trend positive.

4.  FII / DII Activity:

• FII/FPI ₹12,563.33 crore – Net Buyers
• DII ₹8,434.53 crore – Net Sellers
• FIIs continued their strong buying activity, while DIIs remained net Continued foreign institutional inflows have supported the recent market rally

5.  International Cues:

• US Market: The latest available session was positive overall, although Nasdaq futures are under pressure in early trade.
• Crude oil: Brent around $92.51 per barrel, marginally lower; softer crude remains supportive for
• US 10-year bond yield: Around 00%.

Overall View:

Indian equity markets continued their positive momentum on Wednesday, with Nifty closing at 25,255 and Bank Nifty at 60,792. Strong FII buying, softer crude prices and strength in banking and automobile stocks supported the rally. However, the strengthening US dollar, elevated bond yields and mixed global cues may limit the upside in the near term.

By ASHOK BHANARI | SEBI REGISTERED REASERCH ANALYST | REG. INH000019594