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Below the Market Commentary (closing) for 10th November 2025 by Bajaj Broking

Market Closing Commentary

Indian markets bounced back on November 10, ending a three-day losing streak, with the Nifty moving above 25,550. Sentiment improved as foreign investors turned buyers again after six days of selling. Global cues also supported the move, as progress toward avoiding a U.S. government shutdown boosted investor confidence. By the close, the Sensex gained 319 points or 0.38% to end at 83,535.35, while the Nifty rose 82 points or 0.32% to 25,574.30. Most sectors saw buying interest, led by IT and pharma, along with strength in metal and energy stocks. Realty and FMCG, however, closed slightly lower. The Nifty Midcap index added 0.5%, and the Small-cap index was up 0.35%.

Nifty Outlook

Nifty has formed a bull candle on the daily chart with a higher high and higher low signaling follow up buying to previous session pullback from the 50 days EMA. Going ahead, we expect index to hold above the support area of 25,200-25,400 and gradually head towards the immediate resistance of 25,850 and then towards the recent 52 weeks high of 26,100 in the coming weeks. Buying demand was seen emerging from the key support area of 25,200-25,400 being the confluence of the 50 days EMA, previous breakout area and 50% retracement of previous up move (24587-26104). Index is seen rebounding from the oversold territory as the daily stochastic has generated a buy signal signaling moving above its three periods average thus supports the positive bias.

Bank Nifty Outlook

The index traded in a narrow range as it formed a small bull candle with a small upper shadow signaling consolidation after Friday’s strong up move from the lower band of the last 3 weeks trading range. Going ahead, index to extend consolidation of the last two weeks in the range of 57300-58500 thus forming base after the next leg of up move. On the higher side key resistance is placed at recent all time high of 58,577. A move above the same will open further upside towards 59,000 being the 138.2% Fibonacci projection of the recent correction (57,628–53,561). While a close below 57300 will open downside towards the key support area of 56,800–56,500. Overall, the outlook remains positive, and current consolidation should be viewed as buying opportunities within these support areas. PSU Banking stocks to extend the recent outperformance.

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