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Below the Quote on Market Wrap 10th November 2025 by Mr. Ajit Mishra - SVP, Research, Religare Broking Ltd

"Markets began the week on a positive note amid optimistic global cues. Following a firm start, the Nifty built on early momentum, supported by strength in select heavyweights across sectors. However, a pullback in the final hour trimmed part of the gains, and the index eventually settled at 25,574.35. Sector-wise, a rebound in IT and pharma, coupled with strength in metal and energy stocks fueled the up move, whereas realty and FMCG ended slightly lower. The broader indices moved largely in tandem, wherein midcap and smallcap indices advanced in the range of 0.47%–0.35% respectively.

The move was supported by improved global sentiment, as progress toward ending the U.S. government shutdown lifted investor confidence. Moreover, FIIs turning net buyers after six consecutive sessions of selling, along with global brokerage Goldman Sachs upgrading India to 'Overweight' from 'Neutral', further added to the positive sentiment.

Nifty registered a close tag below its 20-day EMA i.e. around 25587, which does not favour bulls. Technically, as long as the index holds above the 25,300 mark, a phase of consolidation at current levels cannot be ruled out. However, a decisive breach below this support could trigger profit-taking, dragging the index towards the 25,150–25,050 zone. On the upside, a sustained move above 25,600 would be essential for a further rally towards the 25,800–26,000 region. Participants are advised to adopt a stock-specific approach, accumulate quality stocks on dips, and keep selective shorts as a hedge."

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