• NINSYS 1.1× — Neutral
• NBCC 1.07× — Mild Positive
• DCM Shriram Ind 1.06× — Neutral
• HDFC Midcap ETF 1.03× — Neutral

KALANA ISPAT – GETS FINAL APPROVAL FOR SOLAR PLANT
UGVCL grants final charging permission for Kalana Ispat’s 1.25 MW AC / 1.4 MW DC ground-mounted solar project via 11 KV line to Jasawada 66 KV substation. Power to be used for captive manufacturing. Inspection, wheeling pact, and regulatory formalities completed; commissioning to follow GEDA & SLDC norms.

As discussed in the previous report dated 17th November 2025, market behaviour remained on expected lines during the week, as buyers struck back and the positive uptrend carried Nifty up to 26246.65.

1. FIIs’ net long is @ 11.50
2. VIX is @ 13.63 (+12.27%)
3. PCR is @ 0.96
4. FIIs sold Rs. 1766 cr in cash, Rs. 822 cr in index futures & Rs. 560 cr in stock futures
5. Open interest positions:

NIFTY OUTLOOK: 26192.15 FII 283.65 cr DII 824.46 cr
As discussed yesterday, market behaviour remained on expected lines. The positive uptrend continued as Nifty took out the resistance of 26104 and rallied up to our level of 26248, making a day high of 26246.65.

Note:Data suggests FIIs and DIIs had very small contribution in index trades today. FIIs added only 27 lots and covered 1191 lots. DIIs added 55 lots and created shorts in 275 lots. Retail and Pro have been participating heavily in index trades for the last 3 days. Retail booked profit in 6825 lots and covered […]

NIFTY OUTLOOK: 26052.65 FII 1580.72 cr DII 1360.27 cr
As discussed yesterday, market behaviour remained in line with expectations. Bears tested our level of 25861 (day low 25856.2) but failed to break down, and Nifty bounced from there, rallying up to 26074.65, very close to our level of 26055, and closed near it at 26052.65.

1. FIIs net long at 12.37%
2. VIX at 11.97 (-1.07%)
3. PCR at 1.28
4. FIIs bought 1580 cr in cash, 237.20 cr in index futures, and 1182 cr in stock futures.
• Nifty immediate resistance at 26207.

Goldman Sachs on Solar Industries
Buy | Target Price Rs. 18,215
Company secures an international defence order worth Rs. 1,400 cr to be executed over four years.
This is the first major global defence order since Feb 2025 and ensures order book accretion in Q3 FY26.
Defence and international segments remain key earnings drivers.

NIFTY OUTLOOK: 25910.05 FII -728.82 cr DII 6156.83 cr
As discussed yesterday, market behaviour remained on expected lines, as Nifty lost its uptrend momentum and slipped to a day low of 25876.5, i.e., near our support of 25865.