IGI Logo

Published on 10-11-2025 10:32 am

Nifty Bank : 57877

Technical Outlook

Week that was:

Bank Nifty closed the week on a marginally positive to settle at 57877 up 0.17%. The Nifty Private Bank underperform the benchmark and closed negative to settle at 27934 down 0.4%. Nifty PSU Bank outperform gaining 2.05% to settle at 8352 levels.

Technical Outlook:

* Bank Nifty opened on a negative note and witnessed corrective bias towards 57150 levels. Consequently, the index formed a Doji like candle for third consecutive week taking support at 20-day EMA coinciding with previous breakout area. For the last 6 session index has not close above previous session high, However, on Friday Index has managed to close above previous day’s high. We believe follow through action will challenge its All time high in coming weeks.

* Post its breakout from the all-time high, the index is undergoing healthy consolidation within a broader 1500-point range (58,577-57,100), signaling digestion of prior gains. Over the past nine sessions, Bank Nifty has retraced only 38.2% of its preceding 2500-point rally, suggesting a shallow retracement and resilience in trend strength.

* Momentum indicators such as the RSI continue to sustain above the 60 level on both weekly and monthly timeframes, maintaining a positive medium-term bias. Hence, focus should be on accumulating quality stocks on dips backed by strong earnings as immediate support is placed near 56,500, corresponding to the 50% retracement of the ongoing advance (54,226–58,577).

* Historically, there have been 17 instances over the past two decades where Bank Nifty, following a decisive breakout above its previous two-month high, delivered double-digit returns within the subsequent four months. In the current setup, the index has once again confirmed a breakout above its prior two-month high and surpassed the previous all-time peak, reaffirming the prevailing bullish structure. This setup indicates a high-probability continuation pattern for sustained upside momentum in the coming months.

* The PSU Bank Index continues to outperform, maintaining a higher-high, higher-low formation for the ninth straight week on the back of strong Q2 earnings. The formation of a higher base above the previous all-time high level underscores a robust undertone, with any dip viewed as a buying opportunity. Immediate support is placed near 7,800, aligning with the 38.2% retracement of the latest rally (6,730–8,391).

* Intraday Rational:

* Trend- Supportive efforts emerged near 20-day EMA

* Levels Buy on declines near 50% retracement of previous day(57450- 58296

Click Here :- https://tinyurl.com/38b5r6zj

Please refer disclaimer at https://secure.icicidirect.com/Content/StaticData/Disclaimer.htmlSEBI Registration number INZ000183631

Published on 10-11-2025 10:32 am

Nifty :25492

Technical Outlook

Week that was…

Equity benchmark continued with its downward trajectory tracking weak global cues amid concerns over AI sector valuations. Nifty lost 0.8% to settle the truncated week at 25500. Small caps bore the brunt, plunging 1.5% for the week. Sectorally, PSU Banks continued with its northbound journey while IT, Metal underperformed.

Technical Outlook:

* The weekly price action formed a bear candle carrying lower high-low, highlighting pause in upward momentum.

* Going ahead, volatility likely to remain high amid Bihar election outcome which would have bearing on market. Therefore, we expect index to consolidate in the broader range of 25800-25100 zone amid stock specific activity as we approach the fag end of the earning season. Hence, focus should be on accumulating quality stock on dips backed by strong earnings as strong support is placed at 25100 zone. Meanwhile, one should note that over past six sessions index has been forming lower high-low, hence to pause the ongoing downward momentum, Nifty need to decisively close above previous sessions high. Further, sustainability above immediate hurdle of 25800 would result into the revival in upward momentum that would open the door for move towards life high of 26300 by December 2025.

Following observations makes us reiterate our positive stance:

* Past three weeks 800 points decline is more of a healthy retracement of October month's 1500 points rally. The slower pace of retracement reinforces the structural uptrend.

* While sailing through global volatility, Midcap index defied the benchmark move and managed to settle the week on a flat note, highlighting relative outperformance. Hence focus should be stocks with strong earnings

* In contrast with Q1FY26 earnings, the lack of disappointment on earning front has provided cushion to the market that would pave the way for next leg of up move

* Since 2000, November has given positive returns with 66% strike rate wherein average returns have been >2%

* Sectorally, BFSI, Auto, Metal are expected to endure their northbound journey

Key Monitorable for the next week:

* Bihar Election outcome

* Development on India-US tariff negotiations

* U.S. Dollar Index: Once again Dollar index has retreated from upper band of four months consolidation placed at 100. Follow through weakness would be positive for emerging markets

Intraday Rational:

* Trend- Supportive efforts emerged near 50-day EMA

* Levels: Buy on declines near 50% retracement of previous day up move (25428-25656)

Click Here :- https://tinyurl.com/38b5r6zj

Please refer disclaimer at https://secure.icicidirect.com/Content/StaticData/Disclaimer.htmlSEBI Registration number INZ000183631

Published on 10-11-2025 10:30 am

Economic News

* CII urges govt to establish India Development and Strategic Fund to finance growth: Industry lobby CII has urged the government to create a new India Development and Strategic Fund. This professionally managed fund aims to finance India's long-term growth and secure critical economic interests globally. The proposal envisions a substantial corpus by 2047, funded through asset monetisation and equity transfers. It will invest in domestic development and strategic overseas acquisitions.

Global News

* China’s inflation shows early signs of recovery, but weak demand keeps deflation risks alive: China’s producer price deflation eased in Oct while consumer prices turned positive, signaling early signs of stabilization as the government steps up efforts to curb overcapacity and excessive competition. The PPI fell 2.1% year-on-year, slightly better than expectations, while the CPI rose 0.2%, reversing two months of decline. Core inflation climbed to a 20-month high of 1.2%, indicating supply-side measures are beginning to take effect. However, analysts caution that deflationary pressures persist amid weak demand, subdued factory activity, and geopolitical uncertainty. Economists note that stronger demand-side policies may be needed to sustain recovery. Despite modest improvements, China’s economic momentum remains fragile, with Q3 growth at a one-year low and youth unemployment still elevated. Policymakers have so far avoided aggressive monetary easing, relying instead on targeted fiscal support such as 500 billion yuan in policy-based instruments and 200 billion yuan in special local government bonds. While the economy is expected to achieve around 5% growth in 2025, persistent producer deflation and weak exports suggest that the recovery remains uneven.

Government Security Market:

* The Inter-bank call money rate traded in the range of 4.85%- 5.45% on Friday ended at 4.95%.

* The 10 year benchmark (6.33% GS 2035) closed at 6.5142% on Friday Vs 6.5150% on Thursday .

Global Debt Market:

U.S. Treasury yields were higher on Friday as investors continued to face an economic data blackout amid the government shutdown. At 5:12 a.m. ET, the 10-year Treasury yield was more than 1 basis points higher at 4.108%, while the 2-year note yield also added 1 basis point reaching 3.576%. The 30-year bond yield rose 1 basis point to 4.704%. The nonfarm payrolls report would have been slated to be released on Friday by the Bureau of Labor Statistics, but it is unable to do so for the second month in a row as a result of the government shutdown. Economists surveyed by Dow Jones had been expecting the report to show a decline of 60,000 jobs and an increase in the unemployment rate to 4.5%. Investors are instead turning to alternative data sources including a survey from Challenger,Gray & Christmas which revealed a sharp rise in jobs cuts in October, coming in at 153,074 in the period, triple September’s level and climbing 183% monthly. It’s also 175% higher than the same period a year ago. It’s the highest number of layoffs for any October since 2003 while 2025 was the was worst year for announced layoffs since 2009, per the Challenger survey.

10 Year Benchmark Technical View :

The 10 year Benchmark (6.33% GS 2035) yield likely to move in the range of 6.50% to 6.52% level on Monday.

Click Here :- https://tinyurl.com/2fpu8z3d

Please refer disclaimer at https://web.geplcapital.com/term-disclaimerSEBI Registration number is INH000000081

Published on 10-11-2025 10:05 am

Market Outlook

The Nifty 50 ended the week at 25,492, extending the profit-booking phase from the 25,800 level and registering a weekly decline of 0.89%. On the daily chart, the index witnessed a rebound from the 25,300 zone, which aligns with the long-term 50-day EMA, indicating this level as a critical support area. On the derivatives front, fresh Put OI build-up at the 25,300 and 25,400 strike underscores the immediate support zone. Conversely, Call OI buildup at the 25,700 and 25,800 strikes suggests near-term hurdles, while strong resistance remains positioned at the 26,000 mark.

Click Here :- https://tinyurl.com/4k9sv3en

Please refer disclaimer at https://www.religareonline.com/disclaimer SEBI Registration number is INZ000174330

Published on 10-11-2025 10:04 am

* The banking index recovered firmly, retracing most early-week losses and concluding the week in a third straight sideways formation, while maintaining a constructive broader bias.

* The index once again respected the 20-DEMA support zone and rebounded accordingly.

* Sectoral momentum remained uneven, with Aubank and ICICIBank exhibiting relative strength, whereas SBIN and AxisBank softened.

* On the technical front, the index faces immediate overhead resistance near 58,500, with a well-defined support base positioned around 57,000.

Click Here :- https://tinyurl.com/3nves7n9

Please refer disclaimer at https://www.religareonline.com/disclaimer SEBI Registration number is INZ000174330