Quote on Daily Market Commentary Technical View 07th November 2025 by Hrishikesh Yedve, Asit C. Mehta Investment Interrmediates Ltd
Below the Quote on Daily Market Commentary Technical View 07th November 2025 by Hrishikesh Yedve, Asit C. Mehta Investment Interrmediates Ltd
''The Nifty index opened on a gap-down note but after an early dip, it witnessed a smart recovery and eventually settled the day on a flat note at 25,492. Technically, on the daily chart, Nifty managed to defend the 34-DEMA support of 25,450 and formed a bullish candle, indicating strength. Immediate support for the index is placed near 25,450, followed by 25,318. On the upside, 25,670–25,700 will serve as the immediate hurdle for the index. Therefore, traders are advised to adopt a "buy near support and sell near resistance" strategy.
The Bank Nifty index opened on a gap-down note and witnessed a strong recovery after the initial fall, settling the day on a bullish note at 57,877. Technically, on the daily chart, the Bank Nifty index has formed a bullish engulfing candlestick pattern, indicating strength. As long as the Bank Nifty index holds above 57,150 levels, traders are advised to adopt a buy-on-dips strategy. On the upside, 58,300 and 58,580 will act as resistance points for the index. Therefore, traders are advised to adopt a buy near support and sell near resistance levels mentioned above.''
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