NIFTY OUTLOOK: 26068.15 FII -1766.05 cr DII 3161.61 cr
(24th – 28th November 2025)
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.
A bullish candle with an upper shadow appeared on the weekly chart near the all-time high resistance, suggesting a pause in the uptrend before continuation. Sustained momentum from here may face resistance around 26189 to 26310. A decisive breakout above these zones may push Nifty towards 26398–26430 and further to 26550.
This candle also reflects resistance at higher levels and a slowdown in buying. While there is no sign of reversal yet, both daily and weekly RSI show negative divergence, indicating selling pressure and signalling caution for profit booking. If selling persists, Nifty may find support around 25947–25827. A failure to defend these levels may drag it further to 25707–25587.
BANK NIFTY OUTLOOK
Spot: 58867.70 PCR: 0.86 Max CE OI: 60000 Max PE OI: 58000
On 21st November 2025, Bank Nifty closed at 58867.70, down 480 points (0.81%). The index moved 408.50 points during the session, with a high of 59232.15 and a low of 58823.65.
Technical View
Key support and resistance levels are 59097 and 58638.
Intraday support and resistance are 58980.05 and 58755.30.
Intraday Breakout Strategy
• Go long above 58980.05 with SL 58942.60 and target 59092.35.
• Go short below 58755.35 with SL 58792.80 and target 58643.05.
RSI for Nifty Bank stands at 63.70 (below 30 oversold, above 70 overbought).
Bank nifty Day SMA Analysis:
Bank nifty is trading above 7 out of 8 SMA’s (10, 20, 30, 50, 100, 150, 200 Day).
Bank nifty is trading below 1 out of 8 SMA’s. (5 Day)
Bearish candlestick Pattern was identified in bank nifty on daily chart.
- Evening Star
Macro:
1.Dollar index is @ 100.11
2.S&P 500 Vix is @ 23.43
3.Brent crude is @ 62.56
4.U.S. 10 years bond yield is @ 4.063
Note:
Weak U.S. jobs data boosted hopes of a rate cut, with the probability rising from 39% on Friday to 71%. VIX declined 13–14% in the last two days. U.S. equities recovered as hyper-valued AI stocks were supported by NVIDIA’s strong results and guidance, and rising rate-cut expectations.
In India, some data points were less encouraging. Private sector activity expanded at the slowest pace in six months, with manufacturing growth slipping to a nine-month low. The flash India Manufacturing PMI fell to 57.4 in November from 59.2. Factory output saw its weakest expansion since May due to subdued new business orders. India’s merchandise trade deficit also hit a record high, with exports to the U.S. falling nearly 9% y-o-y.
On the positive side, inflation eased to 0.25%, providing room for a potential RBI rate cut in the upcoming policy review.
Conclusion:
The Indian economy has started showing the impact of U.S. tariffs. The manufacturing PMI dropped from 59.2 to 57.4, and new order intake slowed to its weakest level since May 2025. This may be due to heavy rainfall in several regions and competitive pricing pressures in global markets. The market is now keenly awaiting clarity on the trade deal. If the outcome is favourable, a recovery in the manufacturing sector may be visible over the next two quarters.
By Ashok Bhandari (RA)
SEBI Regd. No. INH00019549
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