IGI Logo

Below the Market Commentary (closing) for 28th November 2025 by Bajaj Broking

Market Closing Commentary

Indian markets ended virtually flat on November 28, with the Nifty hovering close to the 26,200 level. Sentiment improved following constructive progress in India–US trade negotiations. With Q2 GDP and IIP data due shortly, the overall outlook remains upbeat, and the upcoming prints are expected to validate the strengthening macro environment. By the close, the Sensex slipped 13.71 points or 0.02% to 85,706.67, while the Nifty eased 12.60 points or 0.05% to 26,202.95. Midcap and small-cap indices also wrapped up the session on a muted note. Sector-wise, pharma, media, and auto advanced 0.5–1%, while power, oil & gas, and telecom registered declines of 0.5–0.7%.

Nifty Outlook

Nifty formed a small bodied candle with shadows in either direction signaling consolidation amid stock specific action near the all-time high. Going ahead we expect the index to maintain overall positive bias and gradually head towards 26,500 levels in the coming sessions. The last two-months uptrend has remained well within a rising channel, indicating sustained demand at a higher level. Immediate support is placed at the last week breakout area of 26,000, While short-term support is positioned in the 25,800–25,700 zone, which aligns with the confluence of the 20 days EMAs, the lower band of the two-month rising channel and almost identical last two-week lows. This makes it an important level to monitor from a short-term perspective, sustaining above the same will keep the bias positive.

Bank Nifty Outlook

Bank Nifty formed a doji candlestick pattern with a higher high and a higher low signaling continuation of the positive momentum. The index in the process formed a fresh all time high of 59897. Index during last week has rebounded from the upper band of the recent range breakout area and is seen sustaining above 59,500 levels. The entire up move of the last 2 months is well channelled signaling sustained demand at elevated levels. We expect the index to retain its positive momentum and move towards the 60,400 level in the coming sessions, based on the measuring implication of the recent range breakout. A move above that will open further upside towards 61,000 levels in the coming weeks Meanwhile, the 58,800-58,500 is likely to act as a crucial support area, being the lows of the last two weeks.

Above views are of the author and not of the website kindly read disclaimer