IGI Logo

Below the Quote on Morning Outlook 24th Nov 2025 from Amruta Shinde, Technical & Derivative Analyst at Choice Equity Broking Private Limited

"Indian equities are poised for a positive start on November 24, with the GIFT Nifty hinting at an opening near 26,157—about 79 points higher. Market sentiment remains cautiously optimistic amid mixed global cues and the lack of major domestic triggers. In the near term, traders are likely to focus on global market trends, crude oil movements, and institutional flows for clearer direction.

The Nifty maintained strong bullish momentum this week, touching a record high of 26,246 before some profit-booking kicked in. Its close above the 26,000 mark on the daily chart underscores persistent buying interest. With the index still trading above its 20, 50, and 200 EMAs, the broader trend stays positive. Key resistance levels are placed at 26,100 and 26,250, while support stands at 26,000 and 25,900, supporting a buy-on-dips approach with disciplined stop-losses.

Bank Nifty also hit a fresh all-time high of 59,440 before retreating into profit-booking and closing the week at 58,667.7, forming an inverted hammer that signals short-term hesitation. A dip below 58,576 could push the index toward the 58,250–58,000 zone, while resistance levels remain at 59,300, 59,500, and 59,700. A sustained close above 59,300 could reignite upward momentum, whereas failure to hold this zone may extend weakness.

After two days of buying, Foreign Institutional Investors turned net sellers on November 21, offloading equities worth ?1,766 crore, while Domestic Institutional Investors bought over ?3,160 crore the same day.

Considering the ongoing volatility and global uncertainties, traders are advised to adopt a selective buy-on-dips strategy, manage leverage prudently, and use tight trailing stop-losses with partial profit-booking. Fresh long positions may be considered only above 26,300, supported by close monitoring of global cues and key technical levels."

Above views are of the author and not of the website kindly read disclaimer