Gift Nifty is pointing to a steady start as November draws to close.
Nifty breaking into fresh record highs officially marks the end of a 14-month consolidation phase — and sets the stage for what could be the next leg of the rally.
But for today, the gyan mantra says to be disciplined:
Buy selectively on dips
Avoid chasing strength blindly
Manage leverage with caution — not emotion
Long Story Short: Momentum is bullish, but smart positioning wins bull markets — not excitement.
7:00 AM GLOBAL UPDATE:
GIFT Nifty 🇮🇳: (+15, 26421)
Dow Futures: (+109, 47536)
Nasdaq 100 Futures (+81, 25318)
Nikkei (-12, 50156)
Hang Seng (+65, 26011)
Dow Jones (Closed, 47427)
Nasdaq Composite (Closed, 23215)
Bovespa (-195, 158360).
WHAT HAPPENED AT WALL STREET IN OVERNIGHT TRADE:
Both U.S. stock and bond markets remained closed on Thursday in observance of the Thanksgiving holiday. Trading will resume today (Black Friday), although market hours will be shortened, with U.S. equity markets scheduled to close early.
November has been a challenging month for U.S. equities, with all three major indices in the red. Latest positioning shows:
S&P 500: ▼ 1.09%
Dow Jones: ▼ 0.54%
Nasdaq 100: ▼ 2.92%
Gold prices ($4185 per ounce) remained near a two-week high as investors continued to bet on a Federal Reserve rate cut next month.
Markets are currently pricing in an 83% probability of a 25 bps cut at the Fed’s final policy meeting of the year.
Adding to the dovish sentiment, President Trump’s top economic adviser, Kevin Hassett, is now seen as the frontrunner for the Fed chair position, with expectations he will pursue lower rates.
Meanwhile, gold remains in demand and is on track for its fourth straight monthly gain — up nearly 60% this year and pacing toward its strongest annual performance since 1979.
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 + growing optimism over a potential Ukrainian peace agreement which could ease restrictions on Russian oil, added to the downward pressure.
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