Pre-Market Commentary on Nifty & Bank Nifty for 12th November 2026 by Pabitro Mukherjee, Deputy Vice President-Research, Bajaj Broking
Below the Pre-Market Commentary on Nifty & Bank Nifty for 12th November 2026 by Pabitro Mukherjee, Deputy Vice President-Research, Bajaj Broking
Pre- Market Commentary
Nifty
CMP: 25,255.05
Index formed a small bearish candle with a higher high and a higher low signaling profit booking at higher levels after a gap up opening. Nifty started the session on a strong note and formed an intraday high of 25,424 in the initial trade. However, profit booking at higher levels was the index gave up some of its gains and closed the session at 25,255 levels.
Index in line with our expectations on Wednesday’s session tested the immediate target of 25,400-25,500. It witnessed some profit booking thereafter. Going ahead a follow through strength above 25,500 will open further upside towards 25,800-26,000 levels in the coming week. Failure to move above 25,500 will lead to some consolidation in the range of 24,700-25,500 amid stock specific action as we progress through the fag end of the quarterly earning session.
Index has immediate support placed at the last week breakout area of 24,700. Nifty has seen a strong up move of more than 3000 points in the last 12 sessions. Hence, some consolidation cannot be ruled out at higher levels.
Short-term support in Nifty is placed at 24,000-24,300 levels. Index holding above the same will keep the overall bias positive and dips should be used as a buying opportunity.
Intraday Levels for Nifty
Resistance: 25,390 and 25,500
Support: 25,080 and 24,950
Bank Nifty
CMP: 60,792.40
Bank Nifty extended its up move as it formed a bullish candle with a higher high and a higher low and a bullish gap below its base at 59,741-60,376 signaling extension of the up move. Index started the session on a positive note and formed an intraday high of 61,394 in the opening trade. However, some profit booking at higher levels saw the index gave up some of its gains and closed the session at 60,792 levels.
Index during last week has generated a breakout above the last 4 months broad range of 58,000-54,000 signalling strength and opens upside towards 61,800-62,000 levels in the coming weeks being the previous major highs and measuring implication of the recent range breakout.
Only a formation of lower high and lower low in the daily chart on a sustained basis and a close below Wednesday’s gap area will signal a pause in the current strong rally. Immediate support is placed at 58,500 levels being Friday’s breakout area.
Short term support is revised higher towards 56,500-57,000 levels being the confluence of the key retracement of current rally and last week gap area and 200 days EMA.
Bank Nifty Intraday Levels
Resistance: 61,130 and 61,400
Support: 60,450 and 60,100
Above views are of the author and not of the website kindly read disclaimer
