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Published on 01-12-2025 10:14 am

Market Outlook

Nifty ended the week marginally lower near 26,200, showing signs of consolidation after the recent up-move. The index continues to trade above the rising trendline and key short-term averages, keeping the broader trend positive. Immediate resistance is placed at 26,350–26,450, while support lies at 25,850–25,900. RSI is steady near 60, indicating neutral-to-positive momentum. A decisive breakout above 26,450 could trigger fresh upside, while a break below 25,850 may invite short-term profit booking.

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Published on 01-12-2025 10:13 am

* The banking index traded lackluster and ended nearly flat, taking a breather near its record highs.

* A mixed trend was seen among the banking majors, with FEDERALBNK and BANKBARODA leading the gains, while AXISBANK and IDFCFIRSTB lagged.

* The index is hovering below its trendline resistance around the 59,900–60,000 zone. A sustained move above this range may open the doors for a rally toward 60,300–60,500.

* On the downside, immediate support lies at 59,500. However, as long as the index holds above 58,700, the bullish undertone is expected to remain intact, and a buy-on-dips approach remains favourable.

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Published on 01-12-2025 10:12 am

* Nifty traded lackluster on Friday and ended almost unchanged, taking a breather after hitting a fresh record high.

* Sectoral performance was uneven, with auto and pharma posting gains while energy and financials ended in the red.

* We maintain a positive outlook and recommend continuing with a “buy on dips” approach as long as the Nifty holds above the 25,900 support zone, with a potential upside target near 26,500.

* With sectoral participation shifting on a rotational basis, traders should stick to steady performers and trail stop losses as trades move in their favour.

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Published on 01-12-2025 09:53 am

Nifty

Last week, the appearance of a 'Bullish Marubozu' on the daily chart signaled a sharp shift in momentum, reflecting strong buying conviction and complete control by the bulls. This decisive candle engulfed the previous four sessions of decline, and the subsequent closes above the 5 DEMA reinforced the ongoing uptrend while setting the stage for a potentially strong directional phase ahead. Nifty opened the December expiry on a firm note, clearing the 26050 hurdle and extending gains toward the 26330–26500 zone. Rollover data at 69%, a six-month low, indicates limited short carryover—often an early signal of a trend reversal or continuation of positive momentum. The 25840 level remains a key structural support. Sustained trade above this zone has helped preserve the broader bullish setup while establishing a higher base near 26000. Options data for the December series reflects a strong put base in the 26000 –25800 band, with resistance gradually shifting toward 26500, highlighting improving underlying sentiment. Traders may continue to hold long positions as long as 25840 remains protected, with near-term upside targets at 26330 and 26500 for the week.

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Published on 01-12-2025 09:42 am

Nifty Outlook

Despite two consecutive red candles on the Nifty, oscillators have not signalled that Wednesday's steep rise was a discrepancy rather than a sign of explosive moves to come. While dips or flat trades are to be expected early in the week, we do not expect them to sustain. Instead, our expectations are towards continued rise targeting 26460-550 initially followed by 26900-27200. Alternatively, slippage past 26090 could expose 25860/700 or even 25300.

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