GIFT Nifty 🇮🇳: (+84, 25737)
Market Recap: In Tuesday’s trade, the benchmark Nifty tumbled sharply, snapping its recent winning streak.
The negative takeaway? — there was no place to hide for the bulls as broad-based selling swept across sectors.
The Road Ahead: However, this Thursday morning, there’s a bright chance of a rebound, with Nifty and key stocks likely to stage a recovery from Tuesday’s drubbing.
The Positive Catalysts:
1️⃣ Wall Street stabilises, easing some of the global pressure.
2️⃣ Hopes of a favourable outcome from the ongoing U.S.–India trade negotiations.
Union Commerce Minister Piyush Goyal on Wednesday said that talks on the proposed India–U.S. Bilateral Trade Agreement (BTA) are progressing smoothly, though he cautioned that “many sensitive and serious issues” remain unresolved.
The Headwind:
⚠ The Fed’s ambiguous stance on a potential December rate cut continues to cloud investor sentiment.
Federal Reserve officials have refrained from providing a clear timeline for policy easing, keeping traders cautious.
Bottom Line: Market sentiment remains fragile, and the battle for directional clarity is likely to continue.
Expect Nifty to remain range-bound, wavering without firm conviction.
Technically Speaking:
Strength will be confirmed only above 26,107 levels.
For Thursday’s session, 26,903 will act as a major hurdle.
STOCKS IN SPOTLIGHT:
1) Britannia Industries reported a strong second quarter for FY26, with net profit rising 34% year-on-year to ₹689.95 crore in the quarter ended September, compared to ₹514.41 crore in the same period last year.
2) Delhivery’s revenue from operations rose almost 17% YoY to Rs 2,559.3 crore in Q2, up from Rs 2,189.7 crore a year ago. The firm however posted a loss of Rs 50.5 crore in the second quarter (Q2) of financial year 2025-26 (FY26).
Q2 corporate earnings to watch:
Thursday (November 5th): LIFE INSURANCE, CHOLAMANDALAM FINANCE, CUMMINS, ABB, APOLLO HOSPITALS, LUPIN, GODREJ PROPERTIES, NHPC, UPL, MCX, NCC, PRICOL.
Now, here is the preferred trade on Nifty and Bank Nifty:
Nifty (25598): Buy at CMP. Stop 25371. Targets 25750/25903. Aggressive targets at 26107-26300 zone.
Bank Nifty (57827): Buy at CMP. Stop at 56151. Targets 58000/58600. Aggressive targets at 58900-59100 zone.
Our chart of the day is bullish on APOLLO HOSPITAL, BRITANNIA, and LAURUS LAB on any early excessive intraday weakness with an interweek/Intermonth perspective.
The 1 Stock to Buy Right Now: Buy M&M (CMP 3581): Buy at CMP. Stop at 3421. Targets 3611/3721. Aggressive targets at 4000. (Interweek Strategy). Rationale: Momentum Play. Signalling a massive breakout on the upside. Key interweek support 3451. Major hurdles only at 3721 mark. The sequence of higher high/low is intact on all-time-frames. 200-DMA at 3116.
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