Our Call of the Day: A wrecking ball is still dangling — signaling that a major, potentially damaging move could be just around the corner.
Our Chart of the Day: “Bears roar louder and hold the advantage, but bulls aim to hold their ground — 25,703 remains Nifty’s make-or-break level.”
So, Nifty bulls will hope that the RBI cuts rates by 25 bp bringing down the policy repo rate to 5.25% as inflation is set to remain well below target for the foreseeable future
Please note, India’s GDP grew a strong 8.2% in the September quarter, while CPI inflation eased to a record low of 0.25% in October 2025. This marks the ninth straight month below the RBI’s 4% target and the third month below its 2% lower tolerance band — strengthening calls for the central bank to cut rates further.
Hopefully, a rate cut from the RBI works as the magical spark that could revive momentum and put the rally back on track.
What Technicals Tells Us On Nifty:
Technically, Nifty’s near-term trend stays vulnerable as long as it trades below its all-time high of 26,326, with sellers defending every bounce.
Bottom-line: All eyes are on the RBI’s MPC decision at 10:00 AM, with traders bracing for a possible rate cut.
7:00 AM GLOBAL UPDATE:
GIFT Nifty 🇮🇳: (-6, 26184)
Dow Futures: (+30, 47881)
Nasdaq 100 Futures (+44, 25626)
Nikkei (-739, 50290)
Hang Seng (-103, 25833)
Dow Jones (-32, 47851)
Nasdaq Composite (+51, 23505)
Bovespa (+2700, 164456).
WHAT HAPPENED AT WALL STREET IN OVERNIGHT TRADE:
Wall Street’s major indices hit pause on Thursday, but the rising odds of looser monetary policy powered small-caps higher — the Russell 2000 jumped 0.8% to a fresh all-time closing high of 2,531.
Net-net, it was a choppy session for US stocks in Thursday’s trade as the street weighed the latest jobs data against expectations for a rate cut at next week’s Federal Reserve meeting.
The positive takeaway however was that small caps rallied hard on hopes for lower interest rates, while speculation over a Magnificent 7 stock’s massive spending cuts kept the Nasdaq Composite above water.
Gold prices ($4203 per ounce) was in consolidative mode after prices reached a six-week peak. That said, mounting expectations of a US interest rate cut next week acted as positive catalyst.
Meanwhile, gold is up nearly 60% this year and pacing toward its strongest annual performance since 1979.
WTI crude oil futures ($59.30) are trading with slight positive bias as traders monitored geopolitical developments as Ukrainian strikes on Russian oil infrastructure and stalled peace negotiations which dimmed hopes for a near-term restoration of Russian supply. Ukraine struck the Druzhba oil pipeline in Russia’s Tambov region, the fifth attack on the route supplying Hungary and Slovakia, though the operator and Hungary’s oil company said flows remained normal.
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