GIFT Nifty 🇮🇳: (+25, 26415)
Market Recap:
Nifty (+1.24%) jumped out of the gate in yesterday’s trade.
Nifty Bank index (+1.20%) scaled fresh record high @59554.95, and most importantly, races towards psychological 60,000 mark
Nifty Metal index (+2%) shined after fresh positive commentary from India’s Steel Secretary who has said a government decision on reinstating the safeguard duty is expected soon
45 of the 50 Nifty stocks ended in the green in yesterday’s trade reflecting strong market breadth.
The Big Question:
1) Will Nifty continue to run up to the hill and leave the recent consolidation behind?
2) Is this the start of a sustained breakout — or just another bounce?
The Road Ahead:
Our call of the day says all bullish eyes remain firmly set on Nifty’s all-time high of 26,277.35 — and the way momentum is building, that level is now well within striking distance.
We reiterate, that Nifty will continue to maintain a constructively bullish stance. In fact, the recent upside momentum may not just be a bounce — it could be the beginning of a new positive trend on Dalal Street.
The 2-Big Positive Catalysts:
1) RBI’s MPC meets Dec 3–5, and expectations are rising for a possible 25 bps rate cut.
2) Global mood remains upbeat as odds of a US Fed rate cut in December climb after dovish comments from NY Fed President John Williams.
Technically Speaking:
With Nifty holding and closing above 26,000, the rally now looks broad-based across banking, realty, metals, and energy — signalling improving risk appetite.
For bullish traders, the Gyan Mantra is simple: Make hay while the sun shines with biggest support on Nifty seen at 25900 mark.
The good news is that Nifty is still above its 21 DMA (25865), 50 DMA (25511) and its 100 DMA (25207). Nifty’s 200 DMA at 24553 mark.
The Biggest Headwind:
Only if there is a disappointment on US–India Trade Deal
Upcoming economic data:
India’s GDP growth data for the quarter ending 30 September 2025 is due on Friday, November 28th
STOCKS IN SPOTLIGHT:
1) MCX shares crossed the ₹10,000 mark for the first time, extending a remarkable rally. The stock has surged 132% in the past eight months, driven by strong volume growth and positive sentiment around the exchange business.
Year-to-date, MCX is up ~62% in 2025, following gains of 95% in 2024 and 106% in 2023, marking an exceptional multi-year bull run.
2) L&T climbed 2%, scaling fresh record high — as sentiment around the stock remains upbeat amidst strong order book visibility, execution strength, and continued government spending on infrastructure and defence.
3) Bharti Airtel (-1.61%) was the big laggard following a block deal, with reports indicating Indian Continent Investment may sell a ₹7,100-crore stake.
Stocks scaling fresh 52-week high:
SBI (CMP 984.45) 52-week high at ₹999
LARSEN (CMP 4062) 52-week high at ₹4074.60
AXIS BANK (CMP 1290) 52-week high at ₹1292.80
RELIANCE (CMP 1569.90) 52-week high at ₹1571.60
SHRIRAM FINANCE (CMP 856.60) 52-week high at ₹858.85
(Source: NSE INDIA)
Now, here is the preferred trade on Nifty and Bank Nifty:
Nifty (26205): Buy at CMP. Stop 25771. Targets 26277/26421. Aggressive targets at 26700-27000 zone.
Bank Nifty (59528): Buy at CMP. Stop at 58171. Targets 59900/60300. Aggressive targets at 60700-61000 zone.
Our chart of the day is bullish on MFSL, CUMMINS INDIA and GLENMARK on any early excessive intraday weakness with an interweek/Intermonth perspective.
The 1 Stock to Buy Right Now: Buy Max Financial Services (MFSL: CMP 1736): Buy at CMP. Stop at 1641. Targets 1769/1809. Aggressive targets at 1883. (Interweek Strategy). Rationale: Momentum Play. Signalling a massive breakout on the upside. Key interweek support 1655. Major hurdles only at 1755 mark. Momentum buying is likely only above 1755 mark. 200-DMA at 1430.
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