Hitesh Tailor, Research analyst, Choice Broking
Indian equities are poised for a mildly positive start on November 26, with GIFT Nifty futures hovering near 26,165, indicating a modest upside from yesterday’s close. Global sentiment remains constructive, supported by expectations of a potential U.S. rate cut and broadly stable Asian markets, keeping the overall tone cautiously optimistic.
The Nifty 50 continues to remain range-bound, with resistance placed around 26,000–26,050 and near-term support at 25,750–25,800 ; a zone that may attract accumulation if tested.
The Bank Nifty continues to see steady buyer interest, with support around 58,500 and resistance near 59,200; a sustained breakout above this hurdle could potentially open a move toward the 59,300 region.
On the flows front FIIs were net buyers to the tune of approximately ₹785 crore, while DIIs were strong net buyers with inflows of around ₹3,912 crore, underscoring the continued dominance of domestic participation even as foreign inflows begin to improve.
Given this backdrop, a selective buy-on-dips strategy remains appropriate. Traders should keep tight trailing stop-losses and consider partial profit-booking on rallies. Fresh long positions can be considered once the Nifty convincingly crosses 26,100–26,130, while keeping a close watch on global cues and key technical levels.
India VIX stood at ~12.24 on 25th November, indicating a low-volatility environment.
This reflects stable market sentiment, with traders not expecting major near-term swings.