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Stock Market Live Updates | Gift Nifty Hints at Flat to Positive Open

Synopsis:


Today’s share market’s key developments include: The Supreme Court will hear JSW Energy’s plea on its 1000 MW BESS bid, BEL secures ₹792 cr orders, T&R wins ₹103 cr deal, US FDA inspects Marksans Pharma Goa, NBCC inks UAE MoU, and FIIs sell ₹4,114.85 cr while DIIs buy ₹5,805.26 cr.


 9:20 AM IST

Stock Market LIVE Update | Sensex drops over 200 points | Nifty slips below 25,550

Indian equity benchmarks rebounded after three sessions of decline, led by gains in IT stocks. Analysts view the rise as a technical recovery with limited near-term triggers as the earnings season concludes. Meanwhile, WestBridge Capital increased its stake in Star Health by investing about USD 12 million, signalling renewed interest in the insurance space. Separately, Meesho is reportedly preparing to launch its IPO in the second week of December, targeting an issue size of Rs. 5,500–6,000 crore.

Source: Bajaj Broking Research Desk.

GIFT NIFTY: Gift Nifty suggests a Flat to positive start to the Indian market. Nifty spot in today's session is likely to trade in the range of 25,400-25,750.

INDIA VIX: 12.30 | -0.25 (2.01%) ↓ today

In-Depth Market Insights: Global Outlook, Derivatives & More

Other Asset Classes

  1. Treasury Yield:

    • The 10-year yield rose 2.7 bps to 4.12%, up from 4.093%, while The 2-year yield, closely tied to Fed rate expectations, rose 3.8 bps to 3.595% from 3.557%.

  2. Currency:

    • The dollar index DXY held steady for the day at 99.59.

  3. Commodities:

    • Spot gold jumped 2.82% to $4,111.58 per ounce.

    • U.S. crude rose 0.64% to $60.13 a barrel, while Brent gained 0.68% to $64.06. Oil prices inched higher on Monday amid supply concerns from new U.S. sanctions and Ukrainian drone strikes, though surplus forecasts capped gains.

Asian Markets

  1. General Trends:

    • Asian stocks rose for a second straight session as hopes of ending the record US government shutdown boosted sentiment and fueled a broad rally across assets, from commodities to cryptocurrencies.

  2. Sector-Specific Indicator:

    • Shares in Japan, South Korea and Australia all rose at the open.

India Market Outlook

  1. Market in the Previous Session:

    • Indian markets rebounded on November 10, snapping a three-day losing streak, with the Nifty climbing back above 25,550. Sentiment strengthened as foreign investors returned as buyers after six sessions of selling, helped by a strong Q2 earnings season that boosted overall market confidence.

    • Global cues also supported the move, as progress toward avoiding a U.S. government shutdown boosted investor confidence.

    • By the close, the Sensex gained 319 points (0.38%) to end at 83,535.35, while the Nifty rose 82 points (0.32%) to 25,574.30.

    • Most sectors saw buying interest, led by IT and pharma, along with strength in metal and energy stocks. Realty and FMCG, however, closed slightly lower.

    • In the broader market space, The Nifty Midcap index added 0.5%, and the Small-cap index was up 0.35%.

TRADE SETUP FOR NOV 11

  1. Nifty Short-Term Outlook:

    • Nifty formed a bullish candle on the daily chart, posting a higher high and higher low, indicating continued buying interest after last session’s rebound from the 50-day EMA.

    • Looking ahead, the index is expected to gradually move towards the immediate resistance at 25,850 and eventually towards the recent 52-week high of 26,100. On the downside, the support zone of 25,400–25,200 is likely to hold.

    • Buying interest picked up on Friday from the key support zone of 25,200–25,400, which aligns with the 50-day EMA, the previous breakout level, and the 50% retracement of the earlier upmove (24,587–26,104).

    • Additionally, the daily stochastic oscillator has given a fresh buy signal by crossing above its 3-period average after recovering from oversold levels, reinforcing the positive outlook.

  2. Intraday Levels:

    • Nifty: Intraday resistance is at 25,650, followed by 25,740 levels. Conversely, downside support is located at 25,490, followed by 25,400.

    • Bank Nifty: Intraday resistance is positioned at 58,180, followed by 58,430, while downside support is found at 57,730, followed by 57,480.

Derivative Market Analysis

  1. Nifty:

    • Maximum Call OI is seen at 25,700, while maximum Put OI is concentrated at 25,500, defining a broad trading range of 25,500–25,700 for the upcoming expiry.

    • Notably, Put writers are active between 25,500–25,600, suggesting strong support in this zone. 

    • Meanwhile, Call unwinding at 25,500 and fresh Call writing above 25,650–25,700 indicate that traders are gradually shifting their base to higher strikes — a sign of bullish sentiment building up.

    • The Synthetic Futures is quoting at 25,616.90, while max pain stands at 25,600, reinforcing the same level as a crucial short-term support.

    • A break below 25,600 could drag the index towards 25,500,

    • While a sustained move above 25,700 can open the gates for a rally towards 25,800.

  2. Bank Nifty:

    • In Bank Nifty, 58,000 holds the highest Call and Put OI, followed by 58,500, which also has the second-highest concentration of open interest on both sides.

    • During the previous session, Put writing was notable at 58,500 (ITM Put writing) — a signal that traders anticipate upside continuation if the index sustains above this level.

    • The 58,000–58,500 range thus becomes crucial for the index in the near term. 

    • Sustained trade above 58,000–58,500, coupled with Call unwinding, would confirm bullish momentum, while failure to hold these levels could invite mild profit booking.

US Share Market News

  1. Performance Overview:

    • U.S. stocks surged on Monday amid rising optimism that the record-long government shutdown may soon come to an end. 

  2. Sector-specific indicator:

    • On Wall Street, the S&P 500 SPX jumped 103.63 points (1.54%) to 6,832.43, marking its strongest one-day gain since October 13. The Nasdaq Composite IXIC surged 522.64 points (2.27%) to 23,527.17, its biggest rise since May 27. The Dow DJI added 381.53 points (0.81%) to 47,368.63.

    • The overall sentiment was one of relief, fueling broad-based buying across sectors.

  3. Economic indicator: 

    • Wall Street kicked off the week on a strong note, with markets climbing sharply and tech stocks leading a robust rebound after suffering their weakest week since the April tariff volatility. 

Stay on top of the latest market news with Bajaj Broking’s insights. Our point-to-point analysis digs deep into the surface, empowering you with a unique perspective on domestic and global stock market events. Get all the current share market news, including US share market updates and the trade set up for today, in one place to make informed investment decisions.

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