GIFT Nifty 🇮🇳: (+133, 26521)
New record highs for benchmark Nifty shall be the new normal on reports that India’s Q2 FY26 GDP surged 8.2%, powered by strong consumption and sectoral momentum.
The big question: Will the FPI come back strongly?
In Friday’s trade, FIIs turned out to be net sellers to the tune of Rupees 3796 Crores
All eyes now shift to whether foreign investors flip from persistent selling to sustained buying—fuelled by expectations of further rate cuts, earnings upgrades, and India’s rising weight in global indices.
Meanwhile, a key geopolitical highlight: Russian President Vladimir Putin will visit India on December 4–5 for the 23rd Annual Summit—aimed at strengthening the “Special & Privileged Strategic Partnership.”
Technically speaking, Nifty is still above its 21 DMA (25886), 50 DMA (25554) and its 100 DMA (25223). Nifty’s 200 DMA at 24578 mark.
Auto names remain in focus after the Nifty Auto Index hit fresh record highs last week.
Investors now await November wholesale numbers, where the Street expects double-digit growth across segments—from two-wheelers to passenger vehicles—boosted by improving demand and post-GST pricing reset.
Now, here is the preferred trade on Nifty and Bank Nifty:
Nifty (26203): Buy at CMP. Stop 25771. Targets 26310/26421. Aggressive targets at 26700-27000 zone.
Bank Nifty (59753): Buy at CMP. Stop at 58371. Targets 59900/60300. Aggressive targets at 60700-61000 zone.
Our chart of the day is bullish on CUMMINS INDIA, HDFC BANK and GLENMARK on any early excessive intraday weakness with an interweek/Intermonth perspective.
The 1 Stock to Buy Right Now: Buy M&M (M&M: CMP 3757): Buy at CMP. Stop at 3611. Targets 3787/3813. Aggressive targets at 3977. (Interweek Strategy). Rationale: Momentum Play. Signalling a massive breakout on the upside. Key interweek support 3641. Major hurdles only at 3787 mark. Momentum buying is likely only above 3787 mark. 200-DMA at 3179.
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