Nifty Healthcare

The Nifty 50 extended its southward journey for the second consecutive session, falling by a third of a percent as technical and momentum indicators weakened further on November 6. Given the breakdown below short-term moving averages, experts expect the index to decline further towards 25,450. A decisive break below this level could open the door for a fall to 25,350–25,300, which converges with the 50 percent Fibonacci retracement of the recent sharp rally and the 50-day EMA. However, on the higher side, resistance is placed in the 25,700–25,800 zone.

<img class="alignnone size-full wp-image-13658459 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2025/11/20251106171205_Image106112025.jpg" alt="Image106112025" width="1281" height="646" />

Here are 15 data points we have collated to help you spot profitable trades:

1) Key Levels For The <a href="https://www.moneycontrol.com/indian-indices/nifty-50-9.html" target="_blank">Nifty 50</a> (25,510)

Resistance based on pivot points: 25,632, 25,676, and 25,748

Support based on pivot points: 25,489, 25,444, and 25,373

Special Formation: The Nifty 50 formed a bearish candle with an upper shadow on the daily timeframe, signaling selling pressure at higher levels and indicating a sell-on-rise opportunity. The index continued its lower high–lower low formation for the fifth consecutive session, falling below both the 20-day EMA and the midline of the Bollinger Bands. The RSI dropped to 49.76, while the MACD maintained its bearish crossover, with a further decline in its histogram. All these factors indicate persistent weakness in the short term and potential for further downside movement.

2) Key Levels For The <a href="https://www.moneycontrol.com/indian-indices/nifty-bank-23.html" target="_blank">Bank Nifty</a> (57,554)

Resistance based on pivot points: 57,835, 57,936, and 58,098

Support based on pivot points: 57,511, 57,411, and 57,249

Resistance based on Fibonacci retracement: 58,735, 60,142

Support based on Fibonacci retracement: 57,394, 56,662

Special Formation: The Bank Nifty also formed a Nifty 50-like candle pattern on the daily charts and broke the consolidation range on the downside, signaling the possibility of increased selling pressure ahead. The index, however, still held above its 20-day EMA (which coincides with the 23.6 percent Fibonacci retracement of the recent sharp rally) and the midline of the Bollinger Bands. The RSI declined to 56.30 from Monday’s 65.60 level, while the MACD sustained its negative crossover, with the histogram falling further. All these indicators point toward potential short-term weakness and continued pressure on the index.

<img class="alignnone size-full wp-image-13658461 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2025/11/20251106171254_Image306112025.jpg" alt="Image306112025" width="1281" height="646" />

3) <a href="https://www.moneycontrol.com/markets/fno-market-snapshot" target="_blank">Nifty Call Options Data</a>

According to the weekly options data, the maximum Call open interest was seen at the 26,000 strike (with 1.26 crore contracts). This level can act as a key resistance for the Nifty in the short term. It was followed by the 25,700 strike (1.07 crore contracts) and 25,800 strike (1.01 crore contracts).

Maximum Call writing was observed at the 25,600 strike, which saw an addition of 67.32 lakh contracts, followed by the 25,700 and 25,800 strikes, which added 62.24 lakh and 49.2 lakh contracts, respectively. The maximum Call unwinding was seen at the 25,200 strike, which shed 8,475 contracts, followed by the 25,000 and 25,100 strikes, which shed 2,625 and 2,400 contracts, respectively.

<img class="alignnone size-full wp-image-13658463 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2025/11/20251106171325_Image406112025.jpg" alt="Image406112025" width="1260" height="347" />

4) <a href="https://www.moneycontrol.com/markets/fno-market-snapshot" target="_blank">Nifty Put Options Data</a>

On the Put side, the 25,000 strike holds the maximum Put open interest (with 86.15 lakh contracts), which can act as a key support level for the Nifty. It was followed by the 25,200 strike (75.73 lakh contracts) and the 25,500 strike (64.73 lakh contracts).

The maximum Put writing was placed at the 25,500 strike, which saw an addition of 34.8 lakh contracts, followed by the 25,400 and 25,000 strikes, which added 34.18 lakh and 25.62 lakh contracts, respectively. The maximum Put unwinding was seen at the 25,800 strike, which shed 4.48 lakh contracts, followed by the 26,000 and 26,100 strikes, which shed 2.07 lakh and 1.85 lakh contracts, respectively.

<img class="alignnone size-full wp-image-13658466 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2025/11/20251106171348_Image506112025.jpg" alt="Image506112025" width="1256" height="342" />

5) <a href="https://www.moneycontrol.com/markets/fno-market-snapshot" target="_blank">Bank Nifty Call Options Data</a>

According to the monthly options data, the 58,000 strike holds the maximum Call open interest, with 15.88 lakh contracts. This can act as a key resistance level for the index in the short term. It was followed by the 58,500 strike (10.65 lakh contracts) and the 59,000 strike (8.84 lakh contracts).

Maximum Call writing was observed at the 58,000 strike (with the addition of 3.05 lakh contracts), followed by the 57,700 strike (1.12 lakh contracts) and 57,800 strike (1.03 lakh contracts). The maximum Call unwinding was seen at the 57,000 strike, which shed 1.29 lakh contracts, followed by the 59,000 and 59,700 strikes, which shed 31,990 and 4,235 contracts, respectively.

<img class="alignnone size-full wp-image-13658467 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2025/11/20251106171410_Image6061120225.jpg" alt="Image6061120225" width="1256" height="340" />

6) <a href="https://www.moneycontrol.com/markets/fno-market-snapshot" target="_blank">Bank Nifty Put Options Data</a>

On the Put side, the maximum Put open interest was seen at the 58,000 strike (with 17.2 lakh contracts), which can act as a key level for the index. This was followed by the 57,000 strike (10.99 lakh contracts) and the 56,000 strike (7.35 lakh contracts).

The maximum Put writing was placed at the 57,600 strike (which added 1.15 lakh contracts), followed by the 57,700 strike (63,035 contracts) and the 57,500 strike (53,025 contracts). The maximum Put unwinding was seen at the 57,000 strike which shed 1.6 lakh contracts, followed by the 58,500 and 58,200 strikes, which shed 36,085 and 25,620 contracts, respectively.

<img class="alignnone size-full wp-image-13658468 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2025/11/20251106171434_Image706112025.jpg" alt="Image706112025" width="1255" height="342" />

7) <a href="https://www.moneycontrol.com/markets/fno-market-snapshot" target="_blank">Funds Flow (Rs crore)</a>

<img class="alignnone size-full wp-image-13658470 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2025/11/20251106171459_Image806112025.jpg" alt="Image806112025" width="1054" height="393" />

8) <a href="https://www.moneycontrol.com/markets/fno-market-snapshot" target="_blank">Put-Call Ratio</a>

The Nifty Put-Call ratio (PCR), which indicates the mood of the market, fell to 0.77 on November 6, compared to 0.93 in the previous session.

The increasing PCR, or being higher than 0.7 or surpassing 1, means traders are selling more Put options than Call options, which generally indicates the firming up of a bullish sentiment in the market. If the ratio falls below 0.7 or moves towards 0.5, then it indicates selling in Calls is higher than selling in Puts, reflecting a bearish mood in the market.

<img class="alignnone size-full wp-image-13658471 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2025/11/20251106171522_Image906112025.jpg" alt="Image906112025" width="1258" height="493" />

9) <a href="https://www.moneycontrol.com/indian-indices/india-vix-36.html" target="_blank">India VIX</a>

The India VIX, also known as the fear gauge, dropped 1.92 percent to 12.41 on Thursday, though it briefly moved near the 13 zone during intraday trade. The index continues to sustain above all key moving averages, except the 200 DEMA. Hence, experts advise caution for the bulls, noting that a fall and sustained move below the 12 zone could bring some comfort to bullish participants.

<img class="alignnone size-full wp-image-13658472 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2025/11/20251106171547_Image206112025.jpg" alt="Image206112025" width="1281" height="646" />

10) <a href="https://www.moneycontrol.com/markets/fno-market-snapshot" target="_blank">Long Build-up (18 Stocks)</a>

A long build-up was seen in 18 stocks. An increase in open interest (OI) and price indicates a build-up of long positions.

<img class="alignnone size-full wp-image-13658475 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2025/11/20251106171619_Image1006112025.jpg" alt="Image1006112025" width="563" height="235" />

11) <a href="https://www.moneycontrol.com/markets/fno-market-snapshot" target="_blank">Long Unwinding (69 Stocks)</a>

69 stocks saw a decline in open interest (OI) along with a fall in price, indicating long unwinding.

<img class="alignnone size-full wp-image-13658476 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2025/11/20251106171641_Image1106112025.jpg" alt="Image1106112025" width="551" height="235" />

12) <a href="https://www.moneycontrol.com/markets/fno-market-snapshot" target="_blank">Short Build-up (101 Stocks)</a>

101 stocks saw an increase in OI along with a fall in price, indicating a build-up of short positions.

<img class="alignnone size-full wp-image-13658478 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2025/11/20251106171714_Image1206112025.jpg" alt="Image1206112025" width="550" height="235" />

13) <a href="https://www.moneycontrol.com/markets/fno-market-snapshot" target="_blank">Short-Covering (26 Stocks)</a>

26 stocks saw short-covering, meaning a decrease in OI, along with a price increase.

<img class="alignnone size-full wp-image-13658480 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2025/11/20251106171740_Image1306112025.jpg" alt="Image1306112025" width="559" height="235" />

14) <a href="https://www.moneycontrol.com/markets/fno-market-snapshot" target="_blank">High Delivery Trades</a>

Here are the stocks that saw a high share of delivery trades. A high share of delivery reflects investing (as opposed to trading) interest in a stock.

<img class="alignnone size-full wp-image-13658485 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2025/11/20251106171808_Image1406112025.jpg" alt="Image1406112025" width="748" height="235" />

15) <a href="https://www.moneycontrol.com/markets/fno-market-snapshot" target="_blank">Stocks Under F&amp;O Ban</a>

Securities banned under the F&amp;O segment include companies where derivative contracts cross 95 percent of the market-wide position limit.

Stocks added to F&amp;O ban: Nil

Stocks retained in F&amp;O ban: Nil

Stocks removed from F&amp;O ban: Nil

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

Disclaimer: Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

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Use of Artificial Intelligence

Trade setup for November 7: Top 15 things to know before the opening bells

The Nifty 50 extended its southward journey for the second consecutive session, falling by a third of a percent as technical and momentum indicators weakened further on November 6. Given the breakdown below short-term moving averages, experts expect the index to decline further towards 25,450. A decisive break below this level could open the door for a fall to 25,350–25,300, which converges with the 50 percent Fibonacci retracement of the recent sharp rally and the 50-day EMA. However, on the higher side, resistance is placed in the 25,700–25,800 zone.



Here are 15 data points we have collated to help you spot profitable trades:

1) Key Levels For The Nifty 50 (25,510)

Resistance based on pivot points: 25,632, 25,676, and 25,748

Support based on pivot points: 25,489, 25,444, and 25,373

Special Formation: The Nifty 50 formed a bearish candle with an upper shadow on the daily timeframe, signaling selling pressure at higher levels and indicating a sell-on-rise opportunity. The index continued its lower high–lower low formation for the fifth consecutive session, falling below both the 20-day EMA and the midline of the Bollinger Bands. The RSI dropped to 49.76, while the MACD maintained its bearish crossover, with a further decline in its histogram. All these factors indicate persistent weakness in the short term and potential for further downside movement.

2) Key Levels For The Bank Nifty (57,554)

Resistance based on pivot points: 57,835, 57,936, and 58,098

Support based on pivot points: 57,511, 57,411, and 57,249

Resistance based on Fibonacci retracement: 58,735, 60,142

Support based on Fibonacci retracement: 57,394, 56,662

Special Formation: The Bank Nifty also formed a Nifty 50-like candle pattern on the daily charts and broke the consolidation range on the downside, signaling the possibility of increased selling pressure ahead. The index, however, still held above its 20-day EMA (which coincides with the 23.6 percent Fibonacci retracement of the recent sharp rally) and the midline of the Bollinger Bands. The RSI declined to 56.30 from Monday’s 65.60 level, while the MACD sustained its negative crossover, with the histogram falling further. All these indicators point toward potential short-term weakness and continued pressure on the index.



3) Nifty Call Options Data

According to the weekly options data, the maximum Call open interest was seen at the 26,000 strike (with 1.26 crore contracts). This level can act as a key resistance for the Nifty in the short term. It was followed by the 25,700 strike (1.07 crore contracts) and 25,800 strike (1.01 crore contracts).

Maximum Call writing was observed at the 25,600 strike, which saw an addition of 67.32 lakh contracts, followed by the 25,700 and 25,800 strikes, which added 62.24 lakh and 49.2 lakh contracts, respectively. The maximum Call unwinding was seen at the 25,200 strike, which shed 8,475 contracts, followed by the 25,000 and 25,100 strikes, which shed 2,625 and 2,400 contracts, respectively.



4) Nifty Put Options Data

On the Put side, the 25,000 strike holds the maximum Put open interest (with 86.15 lakh contracts), which can act as a key support level for the Nifty. It was followed by the 25,200 strike (75.73 lakh contracts) and the 25,500 strike (64.73 lakh contracts).

The maximum Put writing was placed at the 25,500 strike, which saw an addition of 34.8 lakh contracts, followed by the 25,400 and 25,000 strikes, which added 34.18 lakh and 25.62 lakh contracts, respectively. The maximum Put unwinding was seen at the 25,800 strike, which shed 4.48 lakh contracts, followed by the 26,000 and 26,100 strikes, which shed 2.07 lakh and 1.85 lakh contracts, respectively.



5) Bank Nifty Call Options Data

According to the monthly options data, the 58,000 strike holds the maximum Call open interest, with 15.88 lakh contracts. This can act as a key resistance level for the index in the short term. It was followed by the 58,500 strike (10.65 lakh contracts) and the 59,000 strike (8.84 lakh contracts).

Maximum Call writing was observed at the 58,000 strike (with the addition of 3.05 lakh contracts), followed by the 57,700 strike (1.12 lakh contracts) and 57,800 strike (1.03 lakh contracts). The maximum Call unwinding was seen at the 57,000 strike, which shed 1.29 lakh contracts, followed by the 59,000 and 59,700 strikes, which shed 31,990 and 4,235 contracts, respectively.



6) Bank Nifty Put Options Data

On the Put side, the maximum Put open interest was seen at the 58,000 strike (with 17.2 lakh contracts), which can act as a key level for the index. This was followed by the 57,000 strike (10.99 lakh contracts) and the 56,000 strike (7.35 lakh contracts).

The maximum Put writing was placed at the 57,600 strike (which added 1.15 lakh contracts), followed by the 57,700 strike (63,035 contracts) and the 57,500 strike (53,025 contracts). The maximum Put unwinding was seen at the 57,000 strike which shed 1.6 lakh contracts, followed by the 58,500 and 58,200 strikes, which shed 36,085 and 25,620 contracts, respectively.



7) Funds Flow (Rs crore)



8) Put-Call Ratio

The Nifty Put-Call ratio (PCR), which indicates the mood of the market, fell to 0.77 on November 6, compared to 0.93 in the previous session.

The increasing PCR, or being higher than 0.7 or surpassing 1, means traders are selling more Put options than Call options, which generally indicates the firming up of a bullish sentiment in the market. If the ratio falls below 0.7 or moves towards 0.5, then it indicates selling in Calls is higher than selling in Puts, reflecting a bearish mood in the market.



9) India VIX

The India VIX, also known as the fear gauge, dropped 1.92 percent to 12.41 on Thursday, though it briefly moved near the 13 zone during intraday trade. The index continues to sustain above all key moving averages, except the 200 DEMA. Hence, experts advise caution for the bulls, noting that a fall and sustained move below the 12 zone could bring some comfort to bullish participants.



10) Long Build-up (18 Stocks)

A long build-up was seen in 18 stocks. An increase in open interest (OI) and price indicates a build-up of long positions.



11) Long Unwinding (69 Stocks)

69 stocks saw a decline in open interest (OI) along with a fall in price, indicating long unwinding.



12) Short Build-up (101 Stocks)

101 stocks saw an increase in OI along with a fall in price, indicating a build-up of short positions.



13) Short-Covering (26 Stocks)

26 stocks saw short-covering, meaning a decrease in OI, along with a price increase.



14) High Delivery Trades

Here are the stocks that saw a high share of delivery trades. A high share of delivery reflects investing (as opposed to trading) interest in a stock.



15) Stocks Under F&amp;amp;O Ban

Securities banned under the F&amp;amp;O segment include companies where derivative contracts cross 95 percent of the market-wide position limit.

Stocks added to F&amp;amp;O ban: Nil

Stocks retained in F&amp;amp;O ban: Nil

Stocks removed from F&amp;amp;O ban: Nil

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

Disclaimer: Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

The Nifty 50 decisively broke below the 25,600 mark, coinciding with the midline of the Bollinger Band and the 20-day EMA (Exponential Moving Average), as bears tightened their grip on the market on November 6. Falling below short-term moving averages and weakening momentum indicators signaled further weakness ahead.

The next immediate support is placed at 25,450 (the September high, which can now act as support). A decisive fall below this level can open the door to 25,350–25,300, which converges with the falling long resistance trendline (acting as support), the 50-day EMA, and the 50 percent Fibonacci retracement of the recent rally. If the index breaks these levels, the 25,000 mark cannot be ruled out. On the higher side, 25,600–25,700 can act as a resistance zone, according to experts.

The Nifty 50 climbed above 25,600 in early trades but could not sustain and remained under pressure for most of the trading session. The index hit an intraday low of 25,492 in late trade before closing at 25,510, down 88 points, extending the downtrend for another session.

The index formed a bearish candle with an upper shadow on the daily charts, indicating selling pressure at higher levels. The lower high–lower low structure continued for the fifth consecutive session, especially after the double-top pattern formation near the 26,100 zone last week.

Momentum indicators weakened further, with the RSI falling below the neutral 50 mark to 49.76, while the MACD maintained a bearish crossover, with its histogram declining further.

“Momentum indicators and oscillators have turned bearish with a sell crossover, suggesting that short-term weakness is likely to persist and any pullbacks may attract selling pressure,” said Nilesh Jain, Head – Technical and Derivatives Research (Equity Research) at Centrum Broking.

On the upside, a move above 25,800 would be needed to negate the bearish setup, while immediate support is seen near 25,350, which corresponds to the 50 percent retracement level of the October series rally, he added.

Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, also believes the underlying trend of the Nifty remains weak.

“The market is now entering a crucial support zone around 25,400 levels (the previously broken upside trendline resistance, as per the principle of change in polarity). Immediate resistance is placed at 25,700,” he said.

Weekly options data indicated that the Nifty may trade in the 25,000–26,000 range in the short term.

The maximum Call open interest (OI) was observed at the 26,000 strike, followed by 25,700 and 25,800 strikes, with the maximum Call writing at the 25,600, 25,700, and 25,800 strikes. On the other hand, the 25,000 strike holds the maximum Put open interest, followed by 25,200 and 25,500 strikes, with the maximum Put writing seen at 25,500, 25,400, and 25,000 strikes.

Bank Nifty

The Bank Nifty extended its decline for the second consecutive session and decisively broke the upward-sloping support trendline, signaling further weakness. The index dropped 273 points to close at 57,554 and formed a bearish candle with an upper shadow on the daily timeframe, indicating that bulls struggled to push prices higher as sellers remained active throughout the session.

The index reached close to the midline of the Bollinger Band (57,480) and the 20-day EMA (57,400); breaking both levels could put bears in a dominant position.

“Going ahead, the 20-day EMA zone will act as immediate support for the index. Any sustained move below 57,400–57,300 will likely lead to further correction up to the 56,800 level. On the upside, the 57,900–58,000 zone will act as a crucial hurdle,” said Sudeep Shah, Head – Technical Research and Derivatives at SBI Securities.

Meanwhile, the India VIX, the volatility or “fear” index, corrected nearly 2 percent to 12.41, though it attempted to move near the 13 zone intraday. The index remained above all key moving averages (except the 200 DEMA), still signaling some caution for the bulls.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Technical View: Bears tighten grip as Nifty breaks 20-DEMA, 25,450 crucial to watch ; Bank Nifty breaks out of consolidation on downside

The Nifty 50 decisively broke below the 25,600 mark, coinciding with the midline of the Bollinger Band and the 20-day EMA (Exponential Moving Average), as bears tightened their grip on the market on November 6. Falling below short-term moving averages and weakening momentum indicators signaled further weakness ahead.

The next immediate support is placed at 25,450 (the September high, which can now act as support). A decisive fall below this level can open the door to 25,350–25,300, which converges with the falling long resistance trendline (acting as support), the 50-day EMA, and the 50 percent Fibonacci retracement of the recent rally. If the index breaks these levels, the 25,000 mark cannot be ruled out. On the higher side, 25,600–25,700 can act as a resistance zone, according to experts.

The Nifty 50 climbed above 25,600 in early trades but could not sustain and remained under pressure for most of the trading session. The index hit an intraday low of 25,492 in late trade before closing at 25,510, down 88 points, extending the downtrend for another session.

The index formed a bearish candle with an upper shadow on the daily charts, indicating selling pressure at higher levels. The lower high–lower low structure continued for the fifth consecutive session, especially after the double-top pattern formation near the 26,100 zone last week.

Momentum indicators weakened further, with the RSI falling below the neutral 50 mark to 49.76, while the MACD maintained a bearish crossover, with its histogram declining further.

“Momentum indicators and oscillators have turned bearish with a sell crossover, suggesting that short-term weakness is likely to persist and any pullbacks may attract selling pressure,” said Nilesh Jain, Head – Technical and Derivatives Research (Equity Research) at Centrum Broking.

On the upside, a move above 25,800 would be needed to negate the bearish setup, while immediate support is seen near 25,350, which corresponds to the 50 percent retracement level of the October series rally, he added.

Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, also believes the underlying trend of the Nifty remains weak.

“The market is now entering a crucial support zone around 25,400 levels (the previously broken upside trendline resistance, as per the principle of change in polarity). Immediate resistance is placed at 25,700,” he said.

Weekly options data indicated that the Nifty may trade in the 25,000–26,000 range in the short term.

The maximum Call open interest (OI) was observed at the 26,000 strike, followed by 25,700 and 25,800 strikes, with the maximum Call writing at the 25,600, 25,700, and 25,800 strikes. On the other hand, the 25,000 strike holds the maximum Put open interest, followed by 25,200 and 25,500 strikes, with the maximum Put writing seen at 25,500, 25,400, and 25,000 strikes.

Bank Nifty

The Bank Nifty extended its decline for the second consecutive session and decisively broke the upward-sloping support trendline, signaling further weakness. The index dropped 273 points to close at 57,554 and formed a bearish candle with an upper shadow on the daily timeframe, indicating that bulls struggled to push prices higher as sellers remained active throughout the session.

The index reached close to the midline of the Bollinger Band (57,480) and the 20-day EMA (57,400); breaking both levels could put bears in a dominant position.

“Going ahead, the 20-day EMA zone will act as immediate support for the index. Any sustained move below 57,400–57,300 will likely lead to further correction up to the 56,800 level. On the upside, the 57,900–58,000 zone will act as a crucial hurdle,” said Sudeep Shah, Head – Technical Research and Derivatives at SBI Securities.

Meanwhile, the India VIX, the volatility or “fear” index, corrected nearly 2 percent to 12.41, though it attempted to move near the 13 zone intraday. The index remained above all key moving averages (except the 200 DEMA), still signaling some caution for the bulls.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Market failed to build on the opening hours gains and remained rangebound throughout the session, with final hour selling pressure dragged the Nifty below 25,500 before closing near day's low amid selling across the sectors.

At close, the Sensex was down 148.14 points or 0.18 percent at 83,311.01, and the Nifty was down 87.95 points or 0.34 percent at 25,509.70. BSE Midcap index fell 1.2%, and smallcap index shed 1.5%.

Also Read: <a href="https://www.moneycontrol.com/news/business/ipo/state-bank-of-india-to-sell-6-3-stake-in-sbi-funds-management-via-ipo-13656768.html">State Bank of India to sell 6.3% stake in SBI Funds Management via IPO</a>

On the sectoral front, metal, power, realty, media were down 1.5-2.5%. However, FMCG, auto and IT ended with marginal gains.

Asian Paints, Interglobe Aviation, M&amp;M, Reliance Industries, UltraTech Cement were among major gainers on the Nifty, while losers were Hindalco, Grasim Industries, Adani Enterprises, Power Grid Corp and Eternal.

Also Read: <a href="https://www.moneycontrol.com/news/business/ipo/lenskart-ipo-allotment-date-today-how-to-check-status-on-registrar-bse-and-nse-check-latest-gmp-13656520.html">Lenskart IPO allotment date today: How to check status on registrar, BSE and NSE; check latest GMP</a>

In stock-specific action, Hindalco Industries shares slipped 5% on weak Novelis results, Grasim Industries shares declined 6% despite strong Q2 earnings, One 97 Communications (Paytm) shares rose 4% despite Q2 profit fall, M&amp;M shares rose 1% on selling entire stake in RBL Bank, Ather Energy shares extend fall on 4th day on block deal of 1.4 crore shares (3.66% equity) worth Rs 856.2 crore.

Britannia Industries shares added 2% after Q2 profit jumps 23%, RBL Bank shares hit 52-week high on 3.4% equity change hands in a block trade, Delhivery share price shed 8% on reporting losses in Q2, Redington shares surged 16% after Q2 profit jumps 23%, Godrej Agrovet shares slipped 5% after Q2 profit down 12%, Force Motors shares declined 2% despite better October sales data.

Also Read: <a href="https://www.moneycontrol.com/news/business/personal-finance/gold-outlook-should-you-buy-hold-or-book-profits-13655453.html">Gold outlook: Should you buy, hold, or book profits?</a>

More than 120 stocks touched their 52-week high on the BSE, including CCL Products, Paytm, Navin Fluorine, RBL Bank, SBI, Laurus Labs, AU Small Finance Bank, 3M India, Titan Company, Chennai Petro, BPCL, City Union Bank, among others. <a href="https://www.moneycontrol.com/stocks/marketstats/bsehigh/index.php">Click to View More</a>

New Listing

Orkla India shares ended 3 percent lower at Rs 707.80 after making debut at Rs 750.10 per share on the NSE, a premium of 2.75 percent against the price band of Rs 695-730 per share.

Outlook for November 7

Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities

The downtrend continued in the market on Thursday and Nifty closed the day lower by 87 points. After opening lower, the market was not able to sustain the highs, as it declined consistently by forming lower highs and lower lows as per intraday basis.

A long bear candle was formed on the daily chart with long upper shadow. Technically, this market action indicates a sell on rise opportunity. Formation of upper shadows in the last 5-6 candles during downtrend signal presence of strong resistance on the rise.

The underlying trend of Nifty continues to be weak. The market is now entering a crucial support zone around 25400 levels (previous upside broken trend line resistance as per change in polarity). Immediate resistance is placed at 25700.

Rupak De, Senior Technical Analyst at LKP Securities

The Nifty slipped below the critical 21EMA on the daily timeframe, indicating weakness. However, the index has declined towards the support of the previous swing high, placed around 25,450.

Going forward. if the index falls below 25,450, the short-term trend might weaken further. On the other hand, if it holds above 25,450, a significant trend reversal might occur.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decision.

Taking Stock: Sensex, Nifty end near day's low on final hour selling; metal, media drag

Market failed to build on the opening hours gains and remained rangebound throughout the session, with final hour selling pressure dragged the Nifty below 25,500 before closing near day's low amid selling across the sectors.

At close, the Sensex was down 148.14 points or 0.18 percent at 83,311.01, and the Nifty was down 87.95 points or 0.34 percent at 25,509.70. BSE Midcap index fell 1.2%, and smallcap index shed 1.5%.

Also Read: State Bank of India to sell 6.3% stake in SBI Funds Management via IPO

On the sectoral front, metal, power, realty, media were down 1.5-2.5%. However, FMCG, auto and IT ended with marginal gains.

Asian Paints, Interglobe Aviation, M&amp;amp;M, Reliance Industries, UltraTech Cement were among major gainers on the Nifty, while losers were Hindalco, Grasim Industries, Adani Enterprises, Power Grid Corp and Eternal.

Also Read: Lenskart IPO allotment date today: How to check status on registrar, BSE and NSE; check latest GMP

In stock-specific action, Hindalco Industries shares slipped 5% on weak Novelis results, Grasim Industries shares declined 6% despite strong Q2 earnings, One 97 Communications (Paytm) shares rose 4% despite Q2 profit fall, M&amp;amp;M shares rose 1% on selling entire stake in RBL Bank, Ather Energy shares extend fall on 4th day on block deal of 1.4 crore shares (3.66% equity) worth Rs 856.2 crore.

Britannia Industries shares added 2% after Q2 profit jumps 23%, RBL Bank shares hit 52-week high on 3.4% equity change hands in a block trade, Delhivery share price shed 8% on reporting losses in Q2, Redington shares surged 16% after Q2 profit jumps 23%, Godrej Agrovet shares slipped 5% after Q2 profit down 12%, Force Motors shares declined 2% despite better October sales data.

Also Read: Gold outlook: Should you buy, hold, or book profits?

More than 120 stocks touched their 52-week high on the BSE, including CCL Products, Paytm, Navin Fluorine, RBL Bank, SBI, Laurus Labs, AU Small Finance Bank, 3M India, Titan Company, Chennai Petro, BPCL, City Union Bank, among others. Click to View More

New Listing

Orkla India shares ended 3 percent lower at Rs 707.80 after making debut at Rs 750.10 per share on the NSE, a premium of 2.75 percent against the price band of Rs 695-730 per share.

Outlook for November 7

Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities

The downtrend continued in the market on Thursday and Nifty closed the day lower by 87 points. After opening lower, the market was not able to sustain the highs, as it declined consistently by forming lower highs and lower lows as per intraday basis.

A long bear candle was formed on the daily chart with long upper shadow. Technically, this market action indicates a sell on rise opportunity. Formation of upper shadows in the last 5-6 candles during downtrend signal presence of strong resistance on the rise.

The underlying trend of Nifty continues to be weak. The market is now entering a crucial support zone around 25400 levels (previous upside broken trend line resistance as per change in polarity). Immediate resistance is placed at 25700.

Rupak De, Senior Technical Analyst at LKP Securities

The Nifty slipped below the critical 21EMA on the daily timeframe, indicating weakness. However, the index has declined towards the support of the previous swing high, placed around 25,450.

Going forward. if the index falls below 25,450, the short-term trend might weaken further. On the other hand, if it holds above 25,450, a significant trend reversal might occur.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decision.

Nifty Stays Below 25,600 Amid Expiry-Led Volatility; Grasim, Hindalco In Focus| Closing Bell Live

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2 out of 5 years Nifty Healthcare has given negative returns in November.

Type	R1	R2	R3	PP	S1	S2	S3
Classic	14,842.88	14,920.72	14,974.83	14,788.77	14,710.93	14,656.82	14,578.98
Fibonacci	14,839.17	14,870.31	14,920.72	14,788.77	14,738.36	14,707.22	14,656.82
Camarilla	14,777.15	14,789.24	14,801.34	14,788.77	14,752.95	14,740.86	14,728.76

INDEX CONTRIBUTION - Nifty Healthcare

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