Market Commentary (closing) for 21st November 2025 by Bajaj Broking
Below the Market Commentary (closing) for 21st November 2025 by Bajaj Broking
Market Closing Commentary
Indian equities ended lower on November 21, with the Nifty closing near the 26,100 mark. A phase of profit-booking after a brief two-day recovery kept the broader mood cautious, pulling benchmark indices into negative territory. The pressure was more pronounced in the broader market, where mid- and small-cap indices fell over 1% each, signalling continued unwinding at higher levels. At close, the Sensex was down 400.76 points or 0.47 percent at 85,231.92, and the Nifty was down 124 points or 0.47 per cent at 26,068.15. Sentiment was further dampened by a softer manufacturing PMI print, weakness in the rupee, and renewed concerns about potential delays in India–US trade negotiations — all of which added to the risk-off tone. Sectorally, the market breadth remained weak. Except FMCG, which held steady, all other sectoral indices ended in the red. Capital goods, realty, PSU banks, and metals were among the notable laggards, declining between 1–2%.
Nifty Outlook
Nifty has formed a bear candle which mostly remained contained inside previous session range signaling consolidation amid weak global cues near the previous all-time high of 26277. Going ahead, a follow through strength above all time high (26277) will open further upside towards the 26,500 levels in the coming weeks. Failure to move above the same will lead to consolidation in the range of 26,277-25,700. Short-term support is placed around 25,500-25,700 range being confluence of the 50 days EMA and the recent breakout area. We believe dips should be used as a buying opportunity in quality large and midcap stocks
Bank Nifty Outlook
Bank Nifty formed a bear candle with a lower high and lower low, highlighting profit booking at higher levels amid weak global cues. Earlier in the week, the index has registered a strong breakout above its four-week consolidation range of 57,300–58,600, reinforcing the overall positive bias. We expect the index to retain its positive momentum and move towards the 59,800 level in the coming week, based on the measuring implication of the recent range breakout. Meanwhile, the 58,300–58,000 zone is likely to act as a crucial support area, with the previous resistance now expected to serve as support.
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