Nifty wavers in early action tracking extremely weak overnight leads from Wall Street.
The big question:
1) Can Nifty rebound after yesterday’s drubbing?
Well, despite weak leads, Nifty should stabilize on backdrop of positive catalysts like:
1) Cooling India’s inflation.
2) Resilient consumer demand.
3) Hope of RBI’s rate cut
4) Strong DII inflows continue.
Our call of the day suggests the trading theme shall revolve around:
1) Nvidia’s earnings due Wednesday – So, all eyes will be on Nvidia as its earnings will be scrutinized amid anxiety over stretched AI valuations.
2) All eyes will be on the FOMC Minutes from the latest meeting to trickle in this Thursday, November 20th.
Bottom-line: Nifty bulls will aim to regroup after a cautious start. We still believe, the benchmark should hit and surpass its all-time high levels sooner rather than later.
9:00 am GLOBAL UPDATE:
GIFT Nifty 🇮🇳: (-43, 25988)
Dow Futures: (+43, 46135)
Nasdaq 100 Futures (+7, 24510)
Nikkei (+263, 48966)
Hang Seng (-52, 25878)
Dollar Index (-0.03%, 99.59)
WTI OIL (-0.31%, 60.55)
Gold (+5, 4072)
Securities in Ban for Trade Date: Wednesday, November 19th 2025*
SAIL
Meanwhile, the street is expecting less than a 46% chance that the Fed will deliver a 25 bps rate cut next month, down from nearly 90% one month earlier.
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