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.
A bearish candle formed on the daily chart, engulfing the previous day’s bullish candle, forming a bearish engulfing pattern. This indicates an interruption to the prevailing uptrend and suggests that bears are ready to take the lead. Hence, if bears aggravate, then on a decisive breakdown of 25861, Nifty may slip further to 25814–25765. If more supply accentuates, it may test 25718.
For the upside, 25960–26010 may act as immediate resistance. A breakout and sustained move above these levels may push Nifty towards 26055–26104.
BANK NIFTY OUTLOOK:
Spot: 58899.25 PCR: 1.11 Max CE OI: 58500 | Max PE OI: 58500
On 18th November 2025, Bank Nifty closed at 58899.25 (-63.45 / -0.11%). The total intraday movement was 304.75 points, with a high of 59103.65 and a low of 58798.90.
Technical View
• Key support: 58235
• Key resistance: 59550
• Intraday support & resistance: 58815 and 58983
Intraday Strategy
• Go long above 58983 with SL 58955, target 59067
• Go short below 58815 with SL 58843, target 58732
RSI stands at 70.0 — above 70 is considered overbought.
Bank nifty Day SMA Analysis:
Bank nifty is trading above 8 out of 8 SMA’s (5, 10, 20, 30, 50, 100, 150, 200 Day).
Bank nifty is trading below 0 out of 8 SMA’s.
No candlestick Pattern was identified in bank nifty on daily chart
Macro:
1. Dollar index is @ 99.457 .
2. S&P 500 Vix is @ 23.18 (+3.57%)
3. Brent Crude is @ 64.96
4. U.S. 10 Y bond yield is @ 4.747
Note:
The S&P 500 fell on Tuesday, extending recent losses as the selloff in tech continued ahead of Nvidia’s earnings and a key labour market reading later this week. Before Tuesday’s session, the index was down over 2% in November after rising for six straight months. It now trades more than 3% below its record high, while the Nasdaq is down over 5% from its peak.
The number of Americans on jobless benefits surged between mid-September and mid-October, indicating a likely elevated unemployment rate for October. Due to the 43-day U.S. government shutdown, weekly claims data for several weeks was not published, and the Labor Department released only partial continuing claims data with no explanation.
India Outlook:
Strong earnings season with no major disappointments and the lowest inflation reading of 0.25% in October, driven by a sharp fall in food prices and tax cuts on consumer goods, has set the stage for a rate cut in December.
Profit growth for BSE500 companies accelerated to 16.6% in Q2 (vs. 10.7% in June and a contraction last year). OMCs, telecom, metals, technology, NBFCs, cement, and capital goods drove earnings, while autos (dragged by Tata Motors) and large banks moderated aggregates.
Around 40% of Nifty companies beat estimates and 28% missed, according to JM Financial. Nifty now trades just 1% below its record high, supported by GST cuts, improved earnings visibility, and valuations at 21.2x forward P/E, still below the 23.61x (Oct 2024) levels.
Indian markets have underperformed over the last 1–1.5 years compared to Asian peers. We earlier highlighted that Asian peers would see profit booking and India would start outperforming — which is now visible:
Recent Corrections in Asian Peers:
A. Taiwan index: down 5% (2300 → 2200)
B. Nikkei futures: down 7% (52710 → 49000)
C. Shanghai Composite TRI: down 2.5% (4601 → 4498)
D. Kospi: down 5.5% (4226 → 3953)
Meanwhile, Nifty moved up from 24335 to 25910 — a rise of 6.5% in the same period.
We mentioned earlier that Indian markets had bottomed out, whereas Asian peers had formed a short-term top. Now, hot money is moving out of Asian markets as investors book profits accumulated over the past 2–3 quarters.
By Ashok Bhandari (RA)
SEBI Regd. No. INH00019549
Leave A Comment