GIFT Nifty 🇮🇳: (+29, 25940)
MARKET RECAP:
In yesterday’s trade, the bullish sentiment at Dalal Street were seen collapsing as Nifty snapped its 6-day winning streak.
Bank Nifty scaled new all-time-high at 59103.65 mark but ended lower, snapping its 7th straight day winning streak.
THE ROAD AHEAD:
Bullish Nifty traders are treating every bad news from Wall Street with extra sensitivity.
THE BIG QUESTION:
Will Nifty’s bullish sentiment collapse tracking weak Wall Street cues?
THE BIGGEST HEADWINDS:
1) Renewed concerns over stretched AI valuations.
2) Rapidly fading expectations of a December U.S. Fed rate cut.
3) Caution ahead of Friday’s U.S. jobs data.
4) This November, FIIs have already sold to the tune of Rs. 13939 Cr.
THE BIGGEST POSITIVE CATALYSTS:
1) US–India Trade Deal Hopes.
2) India’s retail inflation sliding to a record 0.25% in October, well below the RBI’s tolerance band — strengthening hopes for a December rate cut.
TECHNICALLY SPEAKING:
Technically speaking, Nifty’s make-or-break support is placed at 25,740.
As long as this zone holds, dips continue to remain attractive buying opportunities for positional bulls.
Confirmation of strength only above Nifty 26100 mark.
Nifty is still above its 21 DMA (25804), 50 DMA (25374) and its 100 DMA (25173). Nifty’s 200 DMA at 24470 mark.
STOCKS IN SPOTLIGHT:
1) WPIL (+4.59%) rallied after its South African subsidiary secured a major contract worth ₹426 crore from METSI KE MATLA JV, with a 48-month execution timeline.
2) DCX Systems (+0.62%) rose after the company, along with its subsidiary Raneal Advanced Systems, received purchase orders worth ₹22.89 crore.
3) Newgen Software Technologies (-0.48%) slipped despite securing ₹1.5 crore contract from a UK-based client. The deal includes software licensing, AWS-managed services, and implementation support over a three-year period.
4) Tata Power (-1.54%) dropped 1.54% even as its subsidiary TPREL commissioned a 300 MW domestically-compliant solar power project for NHPC at Bikaner, Rajasthan.
5) Emcure Pharma (-2.37%) slipped after Bain Capital announced plans to offload shares worth ₹492.7 crore via block deals. The sale includes 38 lakh shares (2% equity) at ₹1,296.51 per share — a ~7% discount to Monday’s close.
6) AstraZeneca Pharma (-1.15%) slipped despite partnering with Sun Pharma to co-market Sodium Zirconium Cyclosilicate (SZC) in India for hyperkalemia treatment. AstraZeneca will brand it as Lokelma, while Sun will sell it as Gimliand.
THE NEXT BIG CATALYST:
All eyes will be on the FOMC Minutes from the latest meeting to trickle in this Thursday, November 20th.
The minutes will offer deeper insight into the Federal Reserve’s thinking after it lowered the federal funds rate by 25 bps at its October 2025 meeting, bringing the target range to 3.75%–4.00%.
BOTTOM LINE:
Nifty may waver and the trading day should be just like trying to steer a ship with cloudy windows: you’re moving, but are not able to see clearly what’s actually ahead.
LONG STORY SHORT: Volatility is likely to be the hallmark of the day — stay tactical, not emotional.
PREFERRED TRADE ON NIFTY AND BANK NIFTY:
Nifty (25910): Buy between 25750-25800 zone. Stop 25523. Targets 26100/26277. Aggressive targets at 26500-26700 zone.
Bank Nifty (58899): Buy between 58200-58300 zone. Stop at 57251. Targets 59300/59577. Aggressive targets at 59900-60300 zone.
Our chart of the day is bullish on BHARTI AIRTEL, POLYCAB, SUN PHARMA and NYKAA on any early excessive intraday weakness with an interweek/Intermonth perspective.
The 1 Stock to Sell Right Now: Sell BAJAJ FINANCE (CMP 1014): Sell at CMP. Stop at 1039. Targets 995/969. Aggressive targets at 951. (Interweek Strategy). Rationale: Momentum Play. Signalling a massive breakdown on the medium term charts. Key interweek support 951. Major hurdles only at 1061 mark. The stock is signaling a massive weakening momentum. 200-DMA at 924.
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