Will Nifty reclaim 26277 mark?
Before we start, please note that our stock markets will remain closed on Wednesday, November 5th 2025 on account of Guru Nanak Jayanti.
Also, the street will get a chance to react to October Auto Sales numbers and GST collection figures which released over the weekend.
India’s collections of goods and services tax (GST) witnessed a 4.6% year-on-year (YoY) growth to ₹1.96 trillion in October 2025, despite the tax cuts rolled out by the central government’s GST council in September this year amid the festive season in the nation. This shows our resilient economy which is poised to flourish even more.
Also, India’s automobile sales too, rose in October, driven by the Dhanteras and Diwali celebrations, while some automakers attributed the surge to the benefits of the Goods and Services Tax (GST) reform. Maruti Suzuki saw an 8.3% increase in sales, while Tata Motors reported a 10% rise. Mahindra & Mahindra achieved a 26% growth, and Hyundai recorded strong demand, selling 69,894 units.
Moreover, a much-awaited rebound could be on the cards next week as Nifty bulls look to take cues from Wall Street’s roaring comeback in Friday’s session.
The 2-big questions:
1) Are Nifty and its stocks already priced to perfection?
2) The return of risk?
The Street continues to show signs of fatigue after a barrage of below-expectation Q2 corporate results.
What’s dampening sentiment further is that Dalal Street is flirting with record highs at a time when confidence in earnings is showing cracks.
Still, a phase of mild uncertainty and consolidation might be exactly what the market needs before the next leg of the rally.
Near-term cues to watch include Q2 India corporate earnings,
Monday (November 3rd): BHARTI AIRTEL, TITAN, POWERGRID, AMBUJA CEMENTS, TATA CONSUMER, AJANT PHARMA, JK PAPER
Tuesday (November 4th): SBI, M&M, ADANI PORTS, ADANI ENTERPRISES, INDIGO, INDIAN HOTELS, PAYTM, SUZLON ENERGY, ESCORTS, GRSE.
Wednesday (November 5th): SUN PHARMA, GRASIM, AUROBINDO PHARMA, BLUE STAR, DELHIVERY, PIRAMAL PHARMA, BEML.
Thursday (November 5th): LIFE INSURANCE, CHOLAMANDALAM FINANCE, CUMMINS, ABB, APOLLO HOSPITALS, LUPIN, GODREJ PROPERTIES, NHPC, UPL, MCX, NCC, PRICOL.
Friday (November 6th): BAJAJ AUTO, HINDALCO, DIVIS LAB, TRENT, TORRENT PHARMA, NYKAA, KALYAN JEWELLERS, PETRONET LNG, NEULAND LAB.
Last but not least, on the technical front, the Nifty will look to defend support at 25450 while on the upside targets remain at Nifty’s all-time-high at 26277.35 mark and then aggressive targets at psychological 27000 mark.
The Nifty options data suggests Nifty is likely to be in a trading range of 25000-27000 zone. Maximum Call OI is at 26000 followed by 27000 strike prices. 27000 mark is now Nifty’s major resistance zone on closing basis. Maximum Put open interest stands at 26000 levels followed by 25000 levels. Call writing was seen at 25900 and then at 26000 strike price, while there was meaningful Put writing at 25300 and then at 25400 strike prices.
Price Forecast:
Nifty CMP (25722)
Support : 25300/24851
RESISTANCE: 26000/26500
RANGE: 25511-26100
200 DMA: 24327
Nifty PCR: 1.11
BIAS: Positive
Bank Nifty CMP (57776)
Support: 56800/55000
RESISTANCE: 59000/60700
RANGE: 56900-58650
200 DMA 53820
BankNifty PCR: 0.84
BIAS: Positive
Preferred trade for the week:
Nifty (25722): Buy at CMP. Targets at 26000/26277. Aggressive targets at 26500 zone. Stop at 25299.
TOP SECTORS
Bullish Sectors: BANKS, AUTO, FMCG, IT
Bearish Sector: MEDIA
STOCKS IN FOCUS:
BULLISH VIEW: SAMMAANCAP, INOXWIND, SBIN, ADANIENSOL, BEL, FEDERALBNK, HEROMOTOCORP, L&T, EICHERMOT, MCX
BEARISH VIEW: KOTAKBANK, MPHASIS, MAXHEALTH, INDIGO, 360ONE, CIPLA, MANKIND.
DEEP INDUSTRIES
BUYCMP 483
Target Price 550/625
Stop 381
52 Week H/L 625/386
P/E 17.3
EPS (TTM) 22.92
Promoters/FIIs/DIIs//Public 63.49%/2.08%/1.15%/33.26%
Book Value 284
Market Cap (INR) 3093
Company Overview:
Incorporated in 1991, Deep Industries Limited (DIL) is an India-based oil & gas field-services provider focused on air & gas compression, drilling & workover rigs, gas dehydration and turnkey Integrated Project Management for E&P companies. Strong execution footprint in India’s upstream value chain.
Key strengths & competitive advantages
Category leadership in high-pressure gas compression on charter; deep domain know-how across compression + drilling/workover.
Integrated offering (IPM) from drilling to completion—single-contract efficiency and accountability.
Robust order book (₹3,051 cr as of Q1 note) and strong operating leverage.
Strategic acquisitions and offshore entry: DIL has acquired stakes (e.g., in Dolphin Offshore Enterprises Ltd) and is seeking to enter offshore services, thereby adding a new growth axis.
Risks & challenges
• Exposure to E&P capex cycles, tendering intensity and day-rate volatility.
• Project execution/logistics risks across remote fields; asset uptime critical to margins.
Key Financial Results – Q1 FY26
• Revenue (ops): ₹199.5 cr (+61.6% YoY)
• EBITDA: ₹95.0 cr (+54.7% YoY; margin 44.6%)
• PAT: ₹61.7 cr (+59.3% YoY; margin 29.0%)
• Order book: ₹3,051 cr (Q1 FY26).
Technical Outlook: The stock has been consolidating for last 12-months with immediate support seen at 450-450 area. Confirmation of strength above psychological 525 mark. The stock sis aiming to move above its 200-DMA at 485 levels.
Preferred Strategy: Look to buy at CMP, and on dips between 400-420 zone, targeting 525/570, and then aggressive targets at 625 mark. Stop below 381. Holding Period 12-15 Months.
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