This Tuesday morning, Gift Nifty is indicating a cautious optimistic start and that brings us to our call of the day which suggests any intraday strength, the rebound could be bit ephemeral…could be bit short lived.
Nifty badly needs a big positive trigger.
Hopefully, optimism surrounding potential US–India trade agreement becomes a reality and lifts Nifty above 26277.35 mark.
Volatility could be the hallmark of day’s trading as traders brace for November F&O expiry on Tuesday, November 25th 2025.
Bottom-line: Nifty bulls will still aim to take over the positive baton from Wall Street’s strength and we believe, bulls will aim to regroup at lower levels.
7:00 AM GLOBAL UPDATE:
GIFT Nifty 🇮🇳: (+27, 25992)
Dow Futures: (-11, 46438)
Nasdaq 100 Futures (+14, 24888)
Nikkei (+412, 49037)
Hang Seng (+232, 25949)
Dow Jones (+203, 46448)
Nasdaq Composite (+599, 22872)
Bovespa (+507, 155278).
WHAT HAPPENED AT WALL STREET IN OVERNIGHT TRADE:
Wall Street ringed gains for the 2nd straight day in overnight trade driven by:
1) Renewed hope for another rate cut in December
2) Refreshed faith in the AI trade.
Wall Street is closed on Thursday for the Thanksgiving holiday, while the stock and bond markets will close early on Friday.
Gold prices ($4130 per ounce) jumped higher ahead of key economic cues, with investors awaiting Tuesday’s US retail sales and producer price index (PPI) data, followed by weekly jobless claims on Wednesday.
Meanwhile, dovish comments from New York Fed President John Williams and Fed Governor Christopher Waller strengthened expectations of a 25bps rate cut in December, with odds rising to around 79% as per CME FedWatch.
WTI crude oil futures ($58.70) are trading with negative bias and have fallen to 1-month low, as OPEC revised its outlook to show a supply surplus in the third quarter. The group now estimates global supply exceeded demand by about 500,000 barrels per day, reversing its prior deficit forecast.
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