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Below the Quote on Market Wrap 26th November 2025 from Mr. Ajit Mishra - SVP, Research, Religare Broking Ltd

"Markets opened sharply higher on the first day of the new expiry and gained over a percent, fully engulfing the recent decline. The index remained upbeat from the start, with momentum strengthening as the session progressed. As a result, the Nifty settled near the day’s high around the 26,205 mark. Market participation was broad-based, with metals, energy and IT leading the gains. Mid-cap and small-cap indices also advanced over 1%, adding to the overall positive market breadth.

The rally was supported by a mix of domestic and global cues. Renewed optimism over a potential rate cut by the US Federal Reserve in December, along with expectations of a 25-basis-point repo rate cut by the Reserve Bank of India early next month, improved investor sentiment. Additionally, easing crude oil prices—driven by hopes of progress toward peace between Ukraine and Russia—provided further support.

From a technical standpoint, the Nifty has completely retraced the past three days of declines and is again approaching its record high. The rebound from the crucial 20-DEMA reinforces the prevailing uptrend. We maintain our positive outlook and recommend continuing a “buy-on-dips” approach unless the index decisively breaks below 25,800. On the upside, we now expect the 26,300–26,500 zone to act as the next resistance. With all key sectors contributing to the move, we advise focusing on stock selection with favourable risk–reward setups, while maintaining a preference for large-cap and large mid-cap names. "

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