Indian stock market benchmarks, the Nifty 50 and the Sensex, are expected to commence trading on November 24, 2025, on a positive note, buoyed by optimistic signals from global markets. GIFT Nifty trends also suggest a favorable opening for the Indian indices, trading around the 26,155 level, which represents a premium of approximately 78 points compared to the previous close of Nifty futures.
On Friday, November 21, the Indian stock market witnessed a reversal of its two-day rally, concluding the session with losses. The Sensex declined by 400.76 points, or 0.47%, to close at 85,231.92, while the Nifty 50 settled at 26,068.15, down by 124.00 points, or 0.47%.
Key Expectations for Today's Trading Session:
- Sensex Outlook: According to Amol Athawale, Vice President - Technical Research, Kotak Securities, the Sensex has formed a bullish candle on the weekly charts, indicating a continuation of the uptrend on both weekly and daily charts, which is a largely positive signal. Athawale identifies 85,000 and 84,500, or the 20-day SMA, as crucial support zones for traders. Sustaining above these levels is expected to maintain the bullish sentiment, with an immediate resistance zone around 85,800. A breakout above 85,800 could potentially propel the index towards 86,500. Conversely, a fall below the 20-day SMA or 84,500 could shift the market sentiment, prompting traders to exit long positions.
- Nifty 50 Analysis: Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, noted that the Nifty 50 formed a reasonable bull candle with a long upper shadow near all-time highs on the weekly chart. The overall weekly chart pattern suggests a bullish outlook for Nifty in the near term, amidst expected volatility.
- OI Data Insights: Nifty 50 options data indicates a balanced expiry battle. Total Call Open Interest (OI) has surged by over 6 crore contracts, while Put OI experienced selective unwinding, suggesting that Call writers are attempting to cap the index below 26,200. However, strike-wise OI data reveals robust Put additions at the 25,900 – 26,000 level, indicating active defense of these key support levels by bulls.
- Sumeet Bagadia's Perspective: Sumeet Bagadia, Executive Director at Choice Broking, maintains a positive outlook on the Indian stock market, with the Nifty 50 index holding above the 26,000 mark. He identifies a crucial support level at 25,800, with a hurdle at 26,200. A break above this resistance could lead the index towards 26,700 in the near term, while a break below 25,800 could weaken market sentiment and potentially drive the index towards 25,350 levels.
Factors Influencing Market Sentiment:
- Global Cues: The Indian stock market is likely to be influenced by global market trends, including US monetary policy and trade negotiations.
- Technical Levels: Immediate resistance for the Sensex is observed at 85,600–85,700, while the 84,700–84,800 zone is expected to provide strong support.
- FII Activity: Foreign Institutional Investors (FIIs) have been net sellers in November, with intensified selling observed last week.
- Rupee Weakness: The Indian rupee's slide to a fresh record low against the US dollar has contributed to macroeconomic concerns.
Stocks to Watch:
- Natco Pharma Ltd.
- Tata Power Ltd.
- HG Infra Engineering Ltd.
- Rail Vikas Nigam
- Maruti Suzuki
- IndiGo
- ITC
- Beta Drugs
Overall Market Trend:
The Nifty 50's market sentiment remains positive across all time frames, with strong participation from bank stocks. The technical structure suggests ongoing strength, although selective consolidation may occur at higher levels.
