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Below the Quote on Morning Outlook 11th November 2026 by Deepesh Sarawagi, Technical Research Analyst at Choice Broking

"Indian markets are likely to open on a positive note on 11th November 2026, with Gift Nifty at 25,315, up 206 points from Monday’s closing level of 25,109, indicating a firm start after the Tuesday market holiday. Global cues remain mixed, so investors may watch overseas market movements, crude oil prices and key geopolitical developments for further direction. 

In the previous session on 9th November 2026, Nifty closed at 25,044.65, up 58.25 points (+0.23%), after trading in a narrow range. Despite opening higher, the index witnessed intraday volatility but recovered from its low of 24,838.75 and sustained above the crucial 25,000 mark. PSU Banks, Private Banks, Pharma, Healthcare and Realty outperformed, while IT, Cement, Metal and FMCG remained under pressure. 

Nifty continues to hold a positive technical structure, although RSI at 77.88 indicates overbought conditions and the possibility of consolidation. Put writing around 25,000 provides support, while Call writing at 25,100–25,200 may cap immediate gains. Immediate support is placed at 25,000–25,150, while resistance is seen at 25,450–25,500. 

In the previous session on 9th November 2026, Bank Nifty opened with a sharp gap-up and gained 890.60 points (+1.51%), closing at 59,741.25 near the day’s high after breaking above the 59,600 resistance zone. It formed a strong bullish candle, reflecting sustained buying momentum. RSI at 75.41 indicates strong momentum but also overbought conditions. Immediate support is placed at 59,000–59,300, while resistance is seen at 60,000–60,200. 

On 9th November, FIIs remained net buyers with equity purchases worth ?7,212 crore, while DIIs continued their selling streak for the eighth consecutive session, recording net outflows of ?7,172 crore. 

The broader market setup continues to favour the bulls, with strong momentum and recent FII buying providing underlying support. However, the nearly flat Gift Nifty indication points to a measured start, while elevated RSI levels across both indices warrant caution against chasing higher levels. Some consolidation or profit booking may emerge before the next directional move."

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