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Below the Quote on Market Wrap 25th November 2025 from Mr. Ajit Mishra – SVP, Research, Religare Broking Ltd 

"Markets were volatile on monthly expiry day and ended marginally lower, extending the recent phase of profit-taking. After a flat start, the Nifty moved within a narrow range for most of the session, but a late-hour decline dragged the index down. It eventually closed at 25,884.80  , down 0.29%.Sectorally, the trend was mixed. Realty, metal, and pharma stocks registered gains, while IT and FMCG were among the notable laggards. Market breadth was slightly positive, supported by a mild rebound in the midcap and smallcap segments after the recent correction.

Sentiment remained cautious amid persistent global headwinds, including mixed US economic data and ongoing geopolitical concerns that continued to weigh on risk appetite. Domestically, traders stayed guarded due to the November derivatives expiry, with foreign institutional investor flows remaining subdued.

The index has been advancing at a measured pace since August 2025, with sharp retracements appearing after every up-move. A similar pattern seems to be unfolding now. The Nifty is once again approaching its short-term support at the 20-DEMA, near 25,800, which will be crucial to defend for momentum to sustain. A breach could extend the consolidation phase toward the next major support at 25,600. We recommend maintaining a cautious yet constructive outlook, with an emphasis on stock selection based on relative strength. Traders may also consider a few tactical short positions as a hedge against existing long trades."

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