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Positive Opening Seen For Nifty Today

Trends in the GIFT Nifty index futures for November delivery, which was trading at 26,005 at 7:30 am, indicates a positive opening for Nifty today.

Nifty Technical Outlook

On Friday, the Nifty opened with a gap-down but still closed above 25,900, extending its winning streak to five sessions. After a 110-point weak start, the index sharply reversed post 2 pm, rebounding nearly 200 points from the intraday low of 25,740 to end in the green. Eternal and BEL were among the top gainers. Except for IT, Metal, Auto, and Realty, all other sectoral indices closed higher. With retail inflation easing and earnings season ending on a strong note, the overall backdrop remains supportive for Indian equities. The Nifty added 30.90 points closing at 25,910.05. The Nifty formed a bullish candlestick pattern on the daily chart, and we expect the buying momentum to continue for the day. The volatility index IndiaVIX has closed above 12 and we expect the volatility to increase in the short term. The Nifty short-term trend remains bullish and the trend will turn bearish only below 25,650 levels. The 9-day simple moving average is placed at 25,699.7.

Domestic & Global Indices

After Thursday’s sell-off, U.S. stocks opened lower on Friday but rebounded sharply through the session. The Nasdaq and S&P 500 recovered from their lows to briefly turn positive before closing nearly flat. Overall, the major indices ended the week on a mixed note amid heightened volatility. The Dow index moved down by 309 points to close at 47,147.48 and the S&P 500 index moved down by 3 points to close at 6,734.11.

Derivatives Watch

* Based on Open Interest in Futures, FII’s have decreased their long position by 127 contracts and have increased their short position by 9545 contracts. FII's are net bearish by 9672 contracts.

* Based on Open Interest in Options, FII's were net bearish by 41768 contracts. In Nifty, the highest PUT OI was seen at 25800 and the highest CALL Open Interest was seen at 26000 strike.

* Based on Open Interest, we are bullish on Muthoot Finance, Jubilant Foodworks, BDL, NBCC, Vodafone Idea, Amber Enterprises, PGEL, Manappuram, BSE and Marico. We are bearish on Supreme Industries, Infosys, SRF, Astral Limited, Eicher Motors, National Aluminium, MFSL, Cyient, Cummins India and Petronet.

Economy & Stocks to Watch

* India is set to highlight its growing defence and aerospace capabilities at the Dubai Air Show 2025, with Raksha Rajya Mantri Sanjay Seth leading the Indian delegation to the event scheduled from 17–18 November 2025 in the United Arab Emirates. The delegation will include senior representatives from the Department of Defence, Department of Defence Production, the Ministry of External Affairs and the Armed Forces, according to an official release. A key bilateral engagement is planned between Sanjay Seth and his UAE counterpart on the sidelines of the Air Show, aimed at strengthening defence and strategic cooperation between the two nations.

* The Indian Navy will commission an indigenously-built antisubmarine warfare shallow water craft next week that is expected to boost its combat prowess. The first of the Mahe-class anti-submarine warfare vessels will be inducted at a ceremony in Mumbai on November 24, the Navy said on Sunday. Built by Cochin Shipyard Limited (CSL), the vessel Mahe represents the cutting edge of India's 'Aatmanirbhar Bharat' (self-reliant India) initiative in naval ship design and construction, it said. "Compact yet powerful, the ship embodies agility, precision and endurance - qualities vital for dominating the littorals," it said.

* Max Healthcare Institute Ltd on Friday reported a net profit of Rs.491 crore for the September quarter, up 74.3% from Rs.282 crore in the same period last year. Revenue for the quarter increased 25% yearon-year to Rs.2,135 crore from Rs.1,707 crore in Q2 FY25. The year-onyear growth was primarily driven by an increase in outpatient department (OBD) visits. EBITDA rose 17.5% to Rs.575 crore, compared with Rs.451 crore a year earlier. EBITDA margin improved slightly to 26.9% from 26.4% in the corresponding quarter. International patient revenue stood at Rs.231 crore, up 25% YoY and 11% QoQ, accounting for approximately 9% of total hospital revenue.

* In a major boost to Andhra Pradesh’s digital infrastructure ambitions, Anant Raj Limited has announced a substantial expansion of its data centre footprint with a fresh investment commitment of Rs.4,500 crore. The company’s wholly owned subsidiary, Anant Raj Cloud Private Limited (ARCPL), has signed a Memorandum of Understanding (MoU) with the Andhra Pradesh Economic Development Board (APEDB) to develop new data centre facilities and an integrated IT Park in the state. Under the agreement, ARCPL will execute the Rs.4,500-crore investment in two phases to build advanced data centre infrastructure and cloud services capacity.

* Housing and Urban Development Corporation Ltd (Hudco) is in talks with multilateral development banks, including ADB, and institutions to mobilise $1 billion to fund infra projects in the country, its Chairman and Managing Director Sanjay Kulshreshta said. "We are in advanced discussion with KfW (Germany's stateowned development bank) to raise $200 million," he told PTI. Besides, the company is in talks with multilateral development banks like the Asian Development Bank for a loan of $500 million and $200-300 million from the Asian Infrastructure Investment Bank in the current financial year, he said. Foreign funding will not only diversify the resource-raising stream but also bring down the cost of funds, he said.

* Godrej Properties will launch around Rs.22,000 crore worth of housing units for sale in the second half of this fiscal year to capitalise on strong consumer demand, a top company official said. In an interview with PTI, Godrej Properties Executive Chairperson Pirojsha Godrej said the company had given guidance that it would launch properties worth Rs.40,000 crore and sell units of about Rs.32,500 crore during this fiscal year. Pirojsha said the launch of its housing project at Worli, Mumbai, is underway and hopes to launch a new project in Bandra by March-end. Godrej Properties pre-sales grew 13% to Rs.15,587 crore in the first six months of this fiscal from Rs.13,835 crore in the year-ago period.

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