NIFTY MID SELECT

The Nifty 50 inched closer to the record-high zone after breaking out above the 26,100 hurdle. Hence, overall, the trend remains in favour of the bulls, who can drive Nifty gradually toward 26,300 (near the record high) and 26,500. However, until it surpasses the record high, consolidation may be seen with support at the 26,100–26,000 zone. Meanwhile, the Bank Nifty also showed strength and remained in uncharted territory, but the Spinning Top–type pattern formation suggests some profit booking, with support at 59,100-59,000 (Thursday's low and psychological level). On the higher side, 59,500 is the level to watch, experts said.

On November 20, the Nifty 50 spiked 140 points (0.54 percent) to 26,192, while the Bank Nifty rose 132 points to 59,348, despite weakness in market breadth. About 1,582 shares were under pressure against 1,247 shares that advanced on the NSE.

Nifty Outlook and Strategy

Dhupesh Dhameja, Derivative Research Analyst at Samco Securities

Nifty delivered a decisive bullish gap breakout from its four-week consolidation phase, signalling renewed strength and sustained buying interest. The index continues to hold a higher-low formation, while the 26,000 psychological level has now evolved into a firm demand zone, reinforcing the broader uptrend. With the index trading comfortably above its 10-DEMA and 20-DEMA, the technical structure remains firmly constructive, and dips are consistently being absorbed. A breakout above 26,270 could trigger the next upward leg.

Derivatives data also supports the bullish stance, with strong Put writing and Call shifts reflecting continued optimism and momentum-driven upside.

Key Resistance: 26,270, 26,380, 26,500

Key Support: 26,100, 26,000, 25,900

Strategy: Traders may consider the Bull Put Spread strategy for the November 25 expiry by selling one lot of 26,500 PE at Rs 292 and buying one lot of 26,250 PE at Rs 124. This setup is designed to capitalize on potential upside momentum.

Stop-Loss: Hold the strategy until expiry, with the maximum Mark-to-Market (MTM) loss capped at Rs 6,101.

Target: Hold the strategy until expiry to achieve a maximum profit of Rs 12,650, or consider booking profits once the MTM gains exceed Rs 10,065.

Jay Mehta, Technical Research at JM Financial Services

Nifty has decisively broken above its prior swing high of 26,100 in the latest session, registering a fresh 52-week high, powered by new all-time highs in banking and financial indices. Mainline heavyweights are displaying strong momentum. Daily and weekly momentum indicators remain firmly bullish and are rising, reinforcing a robust positive outlook.

The index trades comfortably above all key EMAs with upward slopes, signalling sustained strength. It is now just points away from its all-time high, which should offer minimal resistance. A sustained move above it opens the path to 26,500 and 26,800 in the near term.

Key Resistance: 26,280, 26,500, 26,800

Key Support: 26,100, 26,000, 25,800

Strategy: Buy Nifty Futures at CMP and add on dips near 26,000–26,050, with a stop-loss at 25,800, targeting 26,500, 26,800, and higher.

Sumeet Bagadia, Executive Director at Choice Broking

With a breakout opening above the resistance zone, Nifty formed a bullish candle on the daily chart, indicating strong underlying sentiment despite minor intraday pullbacks.

The index is now hovering near the 26,100–26,200 zone, close to its historical peak, suggesting continued bullish intent. Going ahead, immediate resistance lies at 26,250–26,300, and a sustained move above this range could pave the way for a rally towards 26,500. On the downside, support is placed at 26,000 and 25,900. As long as Nifty sustains above 26,000, a buy-on-dips approach remains favourable, with traders advised to maintain strict stop-losses until a clear breakout or reversal emerges.

Key Resistance: 26,400, 26,500

Key Support: 25,900, 26,000

Strategy: Buy Nifty Futures on dips near the 26,100 level for a target of 26,400–26,500, with a stop-loss of 25,900 on a closing basis.

Bank Nifty - Outlook and Positioning

Jay Mehta, Technical Research at JM Financial Services

Bank Nifty this week surpassed its October 23 swing high of 58,577 and continues to exhibit strong momentum after breaking out from a bullish flag-and-pole pattern. It maintains a relatively stronger structure than Nifty. Daily and weekly momentum indicators are bullish and trending higher, supporting a solid positive view. The index trades above all key EMAs with rising slopes.

The only short-term concern is the latest session’s weak candle (spinning top) formed at the upper Bollinger Band, suggesting possible small profit-taking if the index slips below 59,100.

Key Resistance: 59,500, 59,800

Key Support: 59,000, 58,700, 58,500

Strategy: Buy Bank Nifty Futures on dips around 59,100–59,000 and 58,500, with a stop-loss at 58,200, targeting 59,500 and 59,800.

Dhupesh Dhameja, Derivative Research Analyst at Samco Securities

Nifty Bank pushed further into uncharted territory, backed by relentless buying and a well-defined higher-low structure. The 59,000–58,500 region has now turned into a powerful demand base, signalling strong hands supporting the trend. With the index holding comfortably above its 10-DEMA and 20-DEMA, every intraday dip is being met with fresh accumulation. A breakout above 59,500 could unlock another sharp leg higher.

Derivatives action echoes this optimism, with aggressive Put additions and Call writers shifting away from spot levels—indicating traders are preparing for continued momentum and higher targets ahead.

Key Resistance: 59,500, 59,800, 60,000

Key Support: 59,000, 58,800, 58,500

Strategy: Traders may consider the Bull Put Spread strategy for the November 25 expiry by selling one lot of 59,900 PE at Rs 596 and buying one lot of 59,500 PE at Rs 332. This setup is designed to capitalize on potential upside momentum.

Stop-Loss: Hold the strategy until expiry, with the maximum Mark-to-Market (MTM) loss capped at Rs 4,772.

Target: Hold the strategy until expiry to achieve a maximum profit of Rs 10,065, or consider booking profits once the MTM gains exceed Rs 9,228.

Sumeet Bagadia, Executive Director at Choice Broking

On the daily chart, Bank Nifty formed a Doji-type candle, indicating indecision but with a bullish bias, as the close remained near its record high despite intraday pullbacks.

The index is hovering near the 59,300–59,500 zone, close to its historical peak, reflecting continued bullish sentiment. Immediate resistance is placed at 59,500, and a sustained move above this level may open the doors for a rally towards 59,800–60,000. On the downside, key support lies at 59,100 and 58,900. As long as the index holds above 58,900, a buy-on-dips strategy remains appropriate, with traders advised to maintain strict stop-losses until a decisive breakout or reversal unfolds.

Key Resistance: 59,800, 60,000

Key Support: 58,900, 59,100

Strategy: Buy Bank Nifty Futures on dips near the 59,100 level for a target of 59,800–60,000 levels, with a stop-loss of 58,900 on a closing basis.

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.

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Trading Plan: Can Nifty 50 sustain above 26,100, Bank Nifty hold Thursday’s low amid possible consolidation?

The Nifty 50 inched closer to the record-high zone after breaking out above the 26,100 hurdle. Hence, overall, the trend remains in favour of the bulls, who can drive Nifty gradually toward 26,300 (near the record high) and 26,500. However, until it surpasses the record high, consolidation may be seen with support at the 26,100–26,000 zone. Meanwhile, the Bank Nifty also showed strength and remained in uncharted territory, but the Spinning Top–type pattern formation suggests some profit booking, with support at 59,100-59,000 (Thursday's low and psychological level). On the higher side, 59,500 is the level to watch, experts said.

On November 20, the Nifty 50 spiked 140 points (0.54 percent) to 26,192, while the Bank Nifty rose 132 points to 59,348, despite weakness in market breadth. About 1,582 shares were under pressure against 1,247 shares that advanced on the NSE.

Nifty Outlook and Strategy

Dhupesh Dhameja, Derivative Research Analyst at Samco Securities

Nifty delivered a decisive bullish gap breakout from its four-week consolidation phase, signalling renewed strength and sustained buying interest. The index continues to hold a higher-low formation, while the 26,000 psychological level has now evolved into a firm demand zone, reinforcing the broader uptrend. With the index trading comfortably above its 10-DEMA and 20-DEMA, the technical structure remains firmly constructive, and dips are consistently being absorbed. A breakout above 26,270 could trigger the next upward leg.

Derivatives data also supports the bullish stance, with strong Put writing and Call shifts reflecting continued optimism and momentum-driven upside.

Key Resistance: 26,270, 26,380, 26,500

Key Support: 26,100, 26,000, 25,900

Strategy: Traders may consider the Bull Put Spread strategy for the November 25 expiry by selling one lot of 26,500 PE at Rs 292 and buying one lot of 26,250 PE at Rs 124. This setup is designed to capitalize on potential upside momentum.

Stop-Loss: Hold the strategy until expiry, with the maximum Mark-to-Market (MTM) loss capped at Rs 6,101.

Target: Hold the strategy until expiry to achieve a maximum profit of Rs 12,650, or consider booking profits once the MTM gains exceed Rs 10,065.

Jay Mehta, Technical Research at JM Financial Services

Nifty has decisively broken above its prior swing high of 26,100 in the latest session, registering a fresh 52-week high, powered by new all-time highs in banking and financial indices. Mainline heavyweights are displaying strong momentum. Daily and weekly momentum indicators remain firmly bullish and are rising, reinforcing a robust positive outlook.

The index trades comfortably above all key EMAs with upward slopes, signalling sustained strength. It is now just points away from its all-time high, which should offer minimal resistance. A sustained move above it opens the path to 26,500 and 26,800 in the near term.

Key Resistance: 26,280, 26,500, 26,800

Key Support: 26,100, 26,000, 25,800

Strategy: Buy Nifty Futures at CMP and add on dips near 26,000–26,050, with a stop-loss at 25,800, targeting 26,500, 26,800, and higher.

Sumeet Bagadia, Executive Director at Choice Broking

With a breakout opening above the resistance zone, Nifty formed a bullish candle on the daily chart, indicating strong underlying sentiment despite minor intraday pullbacks.

The index is now hovering near the 26,100–26,200 zone, close to its historical peak, suggesting continued bullish intent. Going ahead, immediate resistance lies at 26,250–26,300, and a sustained move above this range could pave the way for a rally towards 26,500. On the downside, support is placed at 26,000 and 25,900. As long as Nifty sustains above 26,000, a buy-on-dips approach remains favourable, with traders advised to maintain strict stop-losses until a clear breakout or reversal emerges.

Key Resistance: 26,400, 26,500

Key Support: 25,900, 26,000

Strategy: Buy Nifty Futures on dips near the 26,100 level for a target of 26,400–26,500, with a stop-loss of 25,900 on a closing basis.

Bank Nifty - Outlook and Positioning

Jay Mehta, Technical Research at JM Financial Services

Bank Nifty this week surpassed its October 23 swing high of 58,577 and continues to exhibit strong momentum after breaking out from a bullish flag-and-pole pattern. It maintains a relatively stronger structure than Nifty. Daily and weekly momentum indicators are bullish and trending higher, supporting a solid positive view. The index trades above all key EMAs with rising slopes.

The only short-term concern is the latest session’s weak candle (spinning top) formed at the upper Bollinger Band, suggesting possible small profit-taking if the index slips below 59,100.

Key Resistance: 59,500, 59,800

Key Support: 59,000, 58,700, 58,500

Strategy: Buy Bank Nifty Futures on dips around 59,100–59,000 and 58,500, with a stop-loss at 58,200, targeting 59,500 and 59,800.

Dhupesh Dhameja, Derivative Research Analyst at Samco Securities

Nifty Bank pushed further into uncharted territory, backed by relentless buying and a well-defined higher-low structure. The 59,000–58,500 region has now turned into a powerful demand base, signalling strong hands supporting the trend. With the index holding comfortably above its 10-DEMA and 20-DEMA, every intraday dip is being met with fresh accumulation. A breakout above 59,500 could unlock another sharp leg higher.

Derivatives action echoes this optimism, with aggressive Put additions and Call writers shifting away from spot levels—indicating traders are preparing for continued momentum and higher targets ahead.

Key Resistance: 59,500, 59,800, 60,000

Key Support: 59,000, 58,800, 58,500

Strategy: Traders may consider the Bull Put Spread strategy for the November 25 expiry by selling one lot of 59,900 PE at Rs 596 and buying one lot of 59,500 PE at Rs 332. This setup is designed to capitalize on potential upside momentum.

Stop-Loss: Hold the strategy until expiry, with the maximum Mark-to-Market (MTM) loss capped at Rs 4,772.

Target: Hold the strategy until expiry to achieve a maximum profit of Rs 10,065, or consider booking profits once the MTM gains exceed Rs 9,228.

Sumeet Bagadia, Executive Director at Choice Broking

On the daily chart, Bank Nifty formed a Doji-type candle, indicating indecision but with a bullish bias, as the close remained near its record high despite intraday pullbacks.

The index is hovering near the 59,300–59,500 zone, close to its historical peak, reflecting continued bullish sentiment. Immediate resistance is placed at 59,500, and a sustained move above this level may open the doors for a rally towards 59,800–60,000. On the downside, key support lies at 59,100 and 58,900. As long as the index holds above 58,900, a buy-on-dips strategy remains appropriate, with traders advised to maintain strict stop-losses until a decisive breakout or reversal unfolds.

Key Resistance: 59,800, 60,000

Key Support: 58,900, 59,100

Strategy: Buy Bank Nifty Futures on dips near the 59,100 level for a target of 59,800–60,000 levels, with a stop-loss of 58,900 on a closing basis.

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.

The Nifty 50 staged a strong performance, not only surpassing the double-top resistance of 26,100 but also inching closer to the record high zone, ending with more than half a percent rally despite weak market breadth on November 20. Given the strengthening momentum, experts expect the Nifty 50 to touch its record high of 26,277 soon, provided it holds 26,100 as an immediate support. Beyond this, 26,500 is the level to watch, while the sacrosanct support is placed at 25,800.

<img class="alignnone size-full wp-image-13688795 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2025/11/20251120174115_Image120112025.jpg" alt="Image120112025" 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> (26,192)

Resistance based on pivot points: 26,237, 26,281, and 26,351

Support based on pivot points: 26,097, 26,054, and 25,984

Special Formation: The Nifty 50 formed a bullish candle with upper and lower shadows on the daily charts above its previous closing high, indicating continuation of the uptrend despite volatility. The index also closed above the falling resistance trendline, with key moving averages trending upward. The RSI, at 67.66, and the Stochastic RSI sustained their bullish crossovers, while the MACD maintained its positive crossover with further strength in the histogram. All this indicates strengthening momentum and a continuation of the prevailing bullish trend.

2) Key Levels For The <a href="https://www.moneycontrol.com/indian-indices/nifty-bank-23.html" target="_blank">Bank Nifty</a> (59,348)

Resistance based on pivot points: 59,425, 59,499, and 59,619

Support based on pivot points: 59,184, 59,110, and 58,989

Resistance based on Fibonacci retracement: 59,455, 60,875

Support based on Fibonacci retracement: 58,901, 58,568

Special Formation: The Bank Nifty remained in uncharted territory, hitting a fresh record high of 59,440 and closing with 0.22 percent gains. The index formed a bullish candle with upper and lower shadows on the daily timeframe and closed above the previous day’s high, signalling an upward continuation pattern despite volatility. The RSI climbed to 74, and the MACD sustained its positive crossover with further increase in the histogram. All this indicates strong bullish momentum in the banking space.

<img class="alignnone size-full wp-image-13688796 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2025/11/20251120174136_Image220112025.jpg" alt="Image220112025" 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 monthly options data, the maximum Call open interest was seen at the 26,500 strike (with 1.16 crore contracts). This level can act as a key resistance level for the Nifty in the short term. It was followed by the 27,000 strike (1.12 crore contracts) and 26,200 strike (75.6 lakh contracts).

Maximum Call writing was observed at the 26,700 strike, which saw an addition of 17.53 lakh contracts, followed by the 27,000 and 26,250 strikes, which added 16.42 lakh and 16.11 lakh contracts, respectively. The maximum Call unwinding was seen at the 26,000 strike, which shed 44.86 lakh contracts, followed by the 26,100 and 26,050 strikes, which shed 17.88 lakh and 14.98 lakh contracts, respectively.

<img class="alignnone size-full wp-image-13688797 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2025/11/20251120174154_Image420112025.jpg" alt="Image420112025" width="1251" height="341" />

4) <a href="https://www.moneycontrol.com/markets/fno-market-snapshot" target="_blank">Nifty Put Options Data</a>

On the Put side, the 26,000 strike holds the maximum Put open interest (with 1.48 crore contracts), which can act as a key support level for the Nifty in the short term. It was followed by the 25,900 strike (1.22 crore contracts) and the 25,500 strike (99.34 lakh contracts).

The maximum Put writing was placed at the 26,200 strike, which saw an addition of 56.7 lakh contracts, followed by the 26,100 and 26,150 strikes, which added 54.95 lakh and 36.36 lakh contracts, respectively. The maximum Put unwinding was seen at the 25,850 strike which shed 3.8 lakh contracts, followed by the 25,400 and 27,000 strikes, which shed 2.69 lakh and 92,025 contracts, respectively.

<img class="alignnone size-full wp-image-13688798 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2025/11/20251120174213_Image520112025.jpg" alt="Image520112025" width="1249" height="338" />

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 60,000 strike holds the maximum Call open interest, with 11.95 lakh contracts. This can act as a key resistance level for the index in the short term. It was followed by the 59,000 strike (9.12 lakh contracts) and the 59,500 strike (8.3 lakh contracts).

Maximum Call writing was observed at the 59,500 strike (with the addition of 1.69 lakh contracts), followed by the 59,400 strike (1.66 lakh contracts) and 59,300 strike (48,440 contracts). The maximum Call unwinding was seen at the 58,500 strike, which shed 2.52 lakh contracts, followed by the 59,000 and 59,100 strikes, which shed 1.56 lakh and 1.23 lakh contracts, respectively.

<img class="alignnone size-full wp-image-13688799 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2025/11/20251120174230_Image620112025.jpg" alt="Image620112025" width="1250" height="342" />

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 15.28 lakh contracts), which can act as a key support level for the index. This was followed by the 59,000 strike (14.51 lakh contracts) and the 58,500 strike (13.47 lakh contracts).

The maximum Put writing was placed at the 59,300 strike (which added 2.73 lakh contracts), followed by the 59,500 strike (2.43 lakh contracts) and the 59,400 strike (2.03 lakh contracts). The maximum Put unwinding was seen at the 58,500 strike, which shed 2.21 lakh contracts, followed by the 58,400 and 57,800 strikes, which shed 1.79 lakh and 1.25 lakh contracts, respectively.

<img class="alignnone size-full wp-image-13688800 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2025/11/20251120174246_Image720112025.jpg" alt="Image720112025" width="1255" height="344" />

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-13688801 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2025/11/20251120174302_Image820112025.jpg" alt="Image820112025" width="842" height="366" />

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, climbed to 1.44 (the highest level since September 20, 2024) on November 20, compared to 1.29 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-13688803 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2025/11/20251120174318_Image920112025.jpg" alt="Image920112025" width="1237" height="499" />

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, remained well below the crucial 13 zone and hovered around short-term moving averages, despite Thursday’s 1.36 percent rise to the 12.14 zone, signalling comfort for bulls.

<img class="alignnone size-full wp-image-13688804 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2025/11/20251120174335_Image320112025.jpg" alt="Image320112025" width="1281" height="646" />

10) <a href="https://www.moneycontrol.com/markets/fno-market-snapshot" target="_blank">Long Build-up (32 Stocks)</a>

A long build-up was seen in 32 stocks. An increase in open interest (OI) and price indicates a build-up of long positions.

<img class="alignnone size-full wp-image-13688805 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2025/11/20251120174353_Image1020112025.jpg" alt="Image1020112025" width="551" 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-13688806 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2025/11/20251120174410_Image1120112025.jpg" alt="Image1120112025" width="562" height="235" />

12) <a href="https://www.moneycontrol.com/markets/fno-market-snapshot" target="_blank">Short Build-up (37 Stocks)</a>

37 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-13688807 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2025/11/20251120174424_Image1220112025.jpg" alt="Image1220112025" width="542" height="235" />

13) <a href="https://www.moneycontrol.com/markets/fno-market-snapshot" target="_blank">Short-Covering (75 Stocks)</a>

75 stocks saw short-covering, meaning a decrease in OI, along with a price increase.

<img class="alignnone size-full wp-image-13688808 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2025/11/20251120174441_Image1320112025.jpg" alt="Image1320112025" width="550" 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-13688809 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2025/11/20251120174458_Image1420112025.jpg" alt="Image1420112025" width="731" 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: SAIL, Sammaan Capital

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.

Trade setup for November 21: Top 15 things to know before the opening bells

The Nifty 50 staged a strong performance, not only surpassing the double-top resistance of 26,100 but also inching closer to the record high zone, ending with more than half a percent rally despite weak market breadth on November 20. Given the strengthening momentum, experts expect the Nifty 50 to touch its record high of 26,277 soon, provided it holds 26,100 as an immediate support. Beyond this, 26,500 is the level to watch, while the sacrosanct support is placed at 25,800.



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

1) Key Levels For The Nifty 50 (26,192)

Resistance based on pivot points: 26,237, 26,281, and 26,351

Support based on pivot points: 26,097, 26,054, and 25,984

Special Formation: The Nifty 50 formed a bullish candle with upper and lower shadows on the daily charts above its previous closing high, indicating continuation of the uptrend despite volatility. The index also closed above the falling resistance trendline, with key moving averages trending upward. The RSI, at 67.66, and the Stochastic RSI sustained their bullish crossovers, while the MACD maintained its positive crossover with further strength in the histogram. All this indicates strengthening momentum and a continuation of the prevailing bullish trend.

2) Key Levels For The Bank Nifty (59,348)

Resistance based on pivot points: 59,425, 59,499, and 59,619

Support based on pivot points: 59,184, 59,110, and 58,989

Resistance based on Fibonacci retracement: 59,455, 60,875

Support based on Fibonacci retracement: 58,901, 58,568

Special Formation: The Bank Nifty remained in uncharted territory, hitting a fresh record high of 59,440 and closing with 0.22 percent gains. The index formed a bullish candle with upper and lower shadows on the daily timeframe and closed above the previous day’s high, signalling an upward continuation pattern despite volatility. The RSI climbed to 74, and the MACD sustained its positive crossover with further increase in the histogram. All this indicates strong bullish momentum in the banking space.



3) Nifty Call Options Data

According to the monthly options data, the maximum Call open interest was seen at the 26,500 strike (with 1.16 crore contracts). This level can act as a key resistance level for the Nifty in the short term. It was followed by the 27,000 strike (1.12 crore contracts) and 26,200 strike (75.6 lakh contracts).

Maximum Call writing was observed at the 26,700 strike, which saw an addition of 17.53 lakh contracts, followed by the 27,000 and 26,250 strikes, which added 16.42 lakh and 16.11 lakh contracts, respectively. The maximum Call unwinding was seen at the 26,000 strike, which shed 44.86 lakh contracts, followed by the 26,100 and 26,050 strikes, which shed 17.88 lakh and 14.98 lakh contracts, respectively.



4) Nifty Put Options Data

On the Put side, the 26,000 strike holds the maximum Put open interest (with 1.48 crore contracts), which can act as a key support level for the Nifty in the short term. It was followed by the 25,900 strike (1.22 crore contracts) and the 25,500 strike (99.34 lakh contracts).

The maximum Put writing was placed at the 26,200 strike, which saw an addition of 56.7 lakh contracts, followed by the 26,100 and 26,150 strikes, which added 54.95 lakh and 36.36 lakh contracts, respectively. The maximum Put unwinding was seen at the 25,850 strike which shed 3.8 lakh contracts, followed by the 25,400 and 27,000 strikes, which shed 2.69 lakh and 92,025 contracts, respectively.



5) Bank Nifty Call Options Data

According to the monthly options data, the 60,000 strike holds the maximum Call open interest, with 11.95 lakh contracts. This can act as a key resistance level for the index in the short term. It was followed by the 59,000 strike (9.12 lakh contracts) and the 59,500 strike (8.3 lakh contracts).

Maximum Call writing was observed at the 59,500 strike (with the addition of 1.69 lakh contracts), followed by the 59,400 strike (1.66 lakh contracts) and 59,300 strike (48,440 contracts). The maximum Call unwinding was seen at the 58,500 strike, which shed 2.52 lakh contracts, followed by the 59,000 and 59,100 strikes, which shed 1.56 lakh and 1.23 lakh 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 15.28 lakh contracts), which can act as a key support level for the index. This was followed by the 59,000 strike (14.51 lakh contracts) and the 58,500 strike (13.47 lakh contracts).

The maximum Put writing was placed at the 59,300 strike (which added 2.73 lakh contracts), followed by the 59,500 strike (2.43 lakh contracts) and the 59,400 strike (2.03 lakh contracts). The maximum Put unwinding was seen at the 58,500 strike, which shed 2.21 lakh contracts, followed by the 58,400 and 57,800 strikes, which shed 1.79 lakh and 1.25 lakh contracts, respectively.



7) Funds Flow (Rs crore)



8) Put-Call Ratio

The Nifty Put-Call ratio (PCR), which indicates the mood of the market, climbed to 1.44 (the highest level since September 20, 2024) on November 20, compared to 1.29 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, remained well below the crucial 13 zone and hovered around short-term moving averages, despite Thursday’s 1.36 percent rise to the 12.14 zone, signalling comfort for bulls.



10) Long Build-up (32 Stocks)

A long build-up was seen in 32 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 (37 Stocks)

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



13) Short-Covering (75 Stocks)

75 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: SAIL, Sammaan Capital

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 convincingly climbed above the double-top resistance around 26,100 and closed just below 26,200 with gains of more than half a percent on November 20, raising hopes of a new record high in the upcoming sessions, supported by strong momentum and technical indicators. The rally was driven by index heavyweights Reliance Industries and HDFC Bank.

The opening straightaway above the double-top resistance signals a strong presence of bulls in the market. If the Nifty 50 sustains above 26,100, the index can easily surpass its record high of 26,277 and march toward the 26,500 zone. However, 26,000 remains an immediate support, followed by 25,800 as the key support zone, according to experts.

After an initial hour of volatility, the Nifty 50 turned strong as the day progressed and hit an intraday high of 26,247 (very close to the record high). It witnessed some profit booking in the last hour of trade before closing at 26,192, up 140 points (0.54 percent), forming a bullish candle with upper and lower shadows on the daily timeframe—signalling continuation of the uptrend despite volatility.

The index continues to form higher tops and higher bottoms. A fresh bullish crossover on the daily MACD, along with further strength in the histogram, indicates improving momentum, while the RSI jumped to 67.66 while maintaining its bullish crossover.

“Given the constructive chart setup, the Nifty appears well-positioned to register a new record high and move toward the 26,400–26,500 zone in the near term,” said Nilesh Jain, Head – Technical and Derivatives Research Analyst (Equity Research) at Centrum Broking.

According to Osho Krishan, Chief Manager – Technical and Derivative Research at Angel One, the V-shaped recovery has generated robust momentum, suggesting that the prevailing trend is likely to continue.

“The support base seems to have moved up to the 26,100–26,000 sub-zone, which is likely to cushion any near-term shortcomings, while the sacrosanct support is placed around the 25,800 zone from a positional perspective,” he said.

Monthly options data suggests that the Nifty 50 may march toward 26,500 in the short term, supported by the 26,000–25,900 zone. The maximum Call open interest is placed at the 26,500 strike, followed by the 27,000 and 26,200 strikes. The maximum Call writing is seen at the 27,000, 26,700 and 26,250 strikes. Meanwhile, the 26,000 strike holds the maximum Put open interest, followed by the 25,900 and 25,500 strikes, with the highest Put writing at the 26,100, 26,200 and 26,150 strikes.

Bank Nifty

The Bank Nifty climbed close to 59,500 intraday before ending at a new closing high of 59,348 with gains of 132 points. It formed a bullish candle with upper and lower shadows on the daily timeframe, continuing its higher-high, higher-low formation and signalling strength despite volatility.

Impressively, the index has hit new record highs in every trading session this week, underscoring strong bullish sentiment in the banking space.

“From a technical perspective, the chart structure remains firmly positive, suggesting that the index is likely to extend its northward journey in the near term. Key upside targets are placed at 59,700, followed by 60,300,” said Sudeep Shah, Head – Technical Research and Derivatives at SBI Securities.

On the downside, support levels have shifted higher, now positioned in the 59,000–58,900 zone, which is expected to cushion any short-term pullback, he added.

Meanwhile, the India VIX, which measures expected market volatility, remained around the short-term moving averages and well below the long-term moving averages, providing comfort for bulls. The VIX rose 1.36 percent to the 12.14 zone.

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.

Disclaimer: MoneyControl is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

Technical View: Nifty on track for a record high if it sustains 26,100; Bank Nifty approaches 59,500 with strong momentum

The Nifty 50 convincingly climbed above the double-top resistance around 26,100 and closed just below 26,200 with gains of more than half a percent on November 20, raising hopes of a new record high in the upcoming sessions, supported by strong momentum and technical indicators. The rally was driven by index heavyweights Reliance Industries and HDFC Bank.

The opening straightaway above the double-top resistance signals a strong presence of bulls in the market. If the Nifty 50 sustains above 26,100, the index can easily surpass its record high of 26,277 and march toward the 26,500 zone. However, 26,000 remains an immediate support, followed by 25,800 as the key support zone, according to experts.

After an initial hour of volatility, the Nifty 50 turned strong as the day progressed and hit an intraday high of 26,247 (very close to the record high). It witnessed some profit booking in the last hour of trade before closing at 26,192, up 140 points (0.54 percent), forming a bullish candle with upper and lower shadows on the daily timeframe—signalling continuation of the uptrend despite volatility.

The index continues to form higher tops and higher bottoms. A fresh bullish crossover on the daily MACD, along with further strength in the histogram, indicates improving momentum, while the RSI jumped to 67.66 while maintaining its bullish crossover.

“Given the constructive chart setup, the Nifty appears well-positioned to register a new record high and move toward the 26,400–26,500 zone in the near term,” said Nilesh Jain, Head – Technical and Derivatives Research Analyst (Equity Research) at Centrum Broking.

According to Osho Krishan, Chief Manager – Technical and Derivative Research at Angel One, the V-shaped recovery has generated robust momentum, suggesting that the prevailing trend is likely to continue.

“The support base seems to have moved up to the 26,100–26,000 sub-zone, which is likely to cushion any near-term shortcomings, while the sacrosanct support is placed around the 25,800 zone from a positional perspective,” he said.

Monthly options data suggests that the Nifty 50 may march toward 26,500 in the short term, supported by the 26,000–25,900 zone. The maximum Call open interest is placed at the 26,500 strike, followed by the 27,000 and 26,200 strikes. The maximum Call writing is seen at the 27,000, 26,700 and 26,250 strikes. Meanwhile, the 26,000 strike holds the maximum Put open interest, followed by the 25,900 and 25,500 strikes, with the highest Put writing at the 26,100, 26,200 and 26,150 strikes.

Bank Nifty

The Bank Nifty climbed close to 59,500 intraday before ending at a new closing high of 59,348 with gains of 132 points. It formed a bullish candle with upper and lower shadows on the daily timeframe, continuing its higher-high, higher-low formation and signalling strength despite volatility.

Impressively, the index has hit new record highs in every trading session this week, underscoring strong bullish sentiment in the banking space.

“From a technical perspective, the chart structure remains firmly positive, suggesting that the index is likely to extend its northward journey in the near term. Key upside targets are placed at 59,700, followed by 60,300,” said Sudeep Shah, Head – Technical Research and Derivatives at SBI Securities.

On the downside, support levels have shifted higher, now positioned in the 59,000–58,900 zone, which is expected to cushion any short-term pullback, he added.

Meanwhile, the India VIX, which measures expected market volatility, remained around the short-term moving averages and well below the long-term moving averages, providing comfort for bulls. The VIX rose 1.36 percent to the 12.14 zone.

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.

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 Indian benchmark indices extended the winning run on second consecutive session on November 20, with Nifty crossing 26,200 for the first time since September 2024 led by <a href="https://www.moneycontrol.com/news/business/companies/nvidia-gives-strong-forecast-countering-fears-of-ai-bubble-13687070.html">Nvidia’s stellar earnings and stronger sales guidance for Q4</a>.

On the back of rising optimism over a potential India–US trade deal, the Indian market opened on a strong note and with extended buying Nifty touched day's high of 26,246.65, which is 30 points away from the record high of 26,277.35, touched on September 27, 2024.

At close, the Sensex was up 446.21 points or 0.52 percent at 85,632.68, and the Nifty was up 139.50 points or 0.54 percent at 26,192.15.

Broader indices underperformed the main indices with BSE Midcap and smallcap indices ending marginally lower.

Nifty Bank continued hitting fresh record high on the fourth consecutive session. The index touched new high of 59,440.10, finishing 0.22% higher at 59,347.70.

Also Read: <a href="https://www.moneycontrol.com/news/business/markets/groww-vs-angel-one-which-broking-firm-s-shares-should-you-buy-here-s-how-they-stack-up-13686254.html">Groww vs Angel One: Which broking firm's shares should you buy? Here's how they stack up</a>

On the sectoral front, auto, capital goods, oil &amp; gas, private bank, energy up 0.2-0.6%, while consumer durable, media, PSU Bank down 0.3-1.5 percent.

Eicher Motors, Bajaj Finserv, Bajaj Finance, Reliance Industries, Tech Mahindra were among major gainers on the Nifty, while losers were Asian Paints, HCL Technologies, Titan Company, Apollo Hospitals and Tata Steel.

Also Read: <a href="https://www.moneycontrol.com/technology/how-indian-msmes-can-power-the-global-chip-supply-chain-article-13687881.html">How Indian MSMEs can power the global chip supply chain</a>

In stock-specific action, NBCC (India) share price rose 2.5% on bagging order worth Rs 2,966.1 crore, Va Tech Wabag shares gained on order from Melamchi Water Supply Development Board, ACME Solar shares rose on commissioning second phase of additional 16 MW of its 100 MW wind power project in Gujarat, Mahindra Holidays rose 2.7% on entering ‘leisure hospitality’ business segment,

Also Read - <a href="https://www.moneycontrol.com/news/business/personal-finance/infosys-buyback-opens-today-8-smart-checks-before-you-tender-shares-eligibility-tax-rules-and-more-13685852.html">Infosys buyback opens today: 8 smart checks before you tender shares; eligibility, tax rules and more</a>

More than 140 stocks touched their 52-week high on the BSE, including M&amp;M Financial, Radico Khaitan, Hitachi Energy, Chennai Petro, Hero MotoCorp, MCX India, Axis Bank, SBI Life Insurance, Bharti Airtel, SBI, Titan Company, PNB, Bharat Forge, Canara Bank, Bank of Baroda, among others. <a href="https://www.moneycontrol.com/stocks/marketstats/bsehigh/index.php">Click to View More</a>

On the other hand, more than 180 stocks hit 52-week low, including KNR Construction, Page Industries, United Breweries, Nitco, Man Infra, Fischer Medical, Orient Cement, United Foodbrands, among others. <a href="https://www.moneycontrol.com/stocks/marketstats/bselow/index.php">Click to View More</a>

Outlook for November 21

Sudeep Shah, Head - Technical Research and Derivatives at SBI Securities

On Thursday, the benchmark index Nifty continued its upward trajectory and registered its highest closing level since September 2024, reinforcing bullish sentiment in the market. On the daily chart, the index formed a strong bullish candle with shadows on both ends, signalling ongoing volatility but a clear positive bias.

Going ahead, the index is expected to maintain its upward bias and could test 26350, followed by 26500 in the short term. On the downside, support has shifted higher to the 26050–26000 zone, which is likely to act as a cushion for any pullback.

Osho Krishan, Chief Manager -Technical and Derivative research at Angel One

The Indian equity markets commenced the trading session on a strong note, bolstered by positive global developments and the prevailing momentum within domestic markets from the previous session. The benchmark index exhibited robust momentum, achieving significant gains and registering record highs for the calendar year. Ultimately, the Nifty50 index concluded the day on an optimistic note, positioned just below its all-time high at the 26190 level, reflecting a gain of 0.54 percent for the day.

The substantial contribution of heavyweight counters like RIL and HDFC Bank has significantly influenced the ongoing market rally, fostering optimism among market participants. From a technical standpoint, the V-shaped recovery generated robust momentum, suggesting the prevailing trend to continue. Furthermore, with broader participation across the board, the near-term market outlook appears decisively bullish. On the levels front, the support base seems to have moved up to the 26100-26000 subzone, which is likely to cushion any near-term shortcomings, while the sacrosanct support is placed around the 25800 zone from a positional perspective.

On the higher end, with the recent closure, the lifetime high of 26277 is likely to act as psychological resistance, and a breakthrough could pave the way for 26500 in the near future.

As we progress, the prevailing sentiment remains strong, supporting the strategy of purchasing during market dips, which has historically demonstrated its effectiveness. Furthermore, given the current sectoral rotation, it is essential to exercise caution in stock selection while maintaining a bullish outlook on the markets.

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: Nifty crosses 26,200 for the first time since Sept 2024; Sensex up 446 pts

The Indian benchmark indices extended the winning run on second consecutive session on November 20, with Nifty crossing 26,200 for the first time since September 2024 led by Nvidia’s stellar earnings and stronger sales guidance for Q4.

On the back of rising optimism over a potential India–US trade deal, the Indian market opened on a strong note and with extended buying Nifty touched day's high of 26,246.65, which is 30 points away from the record high of 26,277.35, touched on September 27, 2024.

At close, the Sensex was up 446.21 points or 0.52 percent at 85,632.68, and the Nifty was up 139.50 points or 0.54 percent at 26,192.15.

Broader indices underperformed the main indices with BSE Midcap and smallcap indices ending marginally lower.

Nifty Bank continued hitting fresh record high on the fourth consecutive session. The index touched new high of 59,440.10, finishing 0.22% higher at 59,347.70.

Also Read: Groww vs Angel One: Which broking firm's shares should you buy? Here's how they stack up

On the sectoral front, auto, capital goods, oil &amp;amp; gas, private bank, energy up 0.2-0.6%, while consumer durable, media, PSU Bank down 0.3-1.5 percent.

Eicher Motors, Bajaj Finserv, Bajaj Finance, Reliance Industries, Tech Mahindra were among major gainers on the Nifty, while losers were Asian Paints, HCL Technologies, Titan Company, Apollo Hospitals and Tata Steel.

Also Read: How Indian MSMEs can power the global chip supply chain

In stock-specific action, NBCC (India) share price rose 2.5% on bagging order worth Rs 2,966.1 crore, Va Tech Wabag shares gained on order from Melamchi Water Supply Development Board, ACME Solar shares rose on commissioning second phase of additional 16 MW of its 100 MW wind power project in Gujarat, Mahindra Holidays rose 2.7% on entering ‘leisure hospitality’ business segment,

Also Read - Infosys buyback opens today: 8 smart checks before you tender shares; eligibility, tax rules and more

More than 140 stocks touched their 52-week high on the BSE, including M&amp;amp;M Financial, Radico Khaitan, Hitachi Energy, Chennai Petro, Hero MotoCorp, MCX India, Axis Bank, SBI Life Insurance, Bharti Airtel, SBI, Titan Company, PNB, Bharat Forge, Canara Bank, Bank of Baroda, among others. Click to View More

On the other hand, more than 180 stocks hit 52-week low, including KNR Construction, Page Industries, United Breweries, Nitco, Man Infra, Fischer Medical, Orient Cement, United Foodbrands, among others. Click to View More

Outlook for November 21

Sudeep Shah, Head - Technical Research and Derivatives at SBI Securities

On Thursday, the benchmark index Nifty continued its upward trajectory and registered its highest closing level since September 2024, reinforcing bullish sentiment in the market. On the daily chart, the index formed a strong bullish candle with shadows on both ends, signalling ongoing volatility but a clear positive bias.

Going ahead, the index is expected to maintain its upward bias and could test 26350, followed by 26500 in the short term. On the downside, support has shifted higher to the 26050–26000 zone, which is likely to act as a cushion for any pullback.

Osho Krishan, Chief Manager -Technical and Derivative research at Angel One

The Indian equity markets commenced the trading session on a strong note, bolstered by positive global developments and the prevailing momentum within domestic markets from the previous session. The benchmark index exhibited robust momentum, achieving significant gains and registering record highs for the calendar year. Ultimately, the Nifty50 index concluded the day on an optimistic note, positioned just below its all-time high at the 26190 level, reflecting a gain of 0.54 percent for the day.

The substantial contribution of heavyweight counters like RIL and HDFC Bank has significantly influenced the ongoing market rally, fostering optimism among market participants. From a technical standpoint, the V-shaped recovery generated robust momentum, suggesting the prevailing trend to continue. Furthermore, with broader participation across the board, the near-term market outlook appears decisively bullish. On the levels front, the support base seems to have moved up to the 26100-26000 subzone, which is likely to cushion any near-term shortcomings, while the sacrosanct support is placed around the 25800 zone from a positional perspective.

On the higher end, with the recent closure, the lifetime high of 26277 is likely to act as psychological resistance, and a breakthrough could pave the way for 26500 in the near future.

As we progress, the prevailing sentiment remains strong, supporting the strategy of purchasing during market dips, which has historically demonstrated its effectiveness. Furthermore, given the current sectoral rotation, it is essential to exercise caution in stock selection while maintaining a bullish outlook on the markets.

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.

After a soft start, Nifty and Sensex steadily climbed through the day, with gains accelerating post-noon on November 20, echoing strong cues from global markets in a positive, upward-trending session with sustained buying interest.

At close, the <a href="https://www.moneycontrol.com/indian-indices/sensex-4.html">Sensex</a> was up 446.21 points or 0.52 percent at 85,632.68, and the Nifty was up 139.50 points or 0.54 percent at 26,192.15. About 1759 shares advanced, 2221 shares declined, and 165 shares unchanged.

In trade today, the Nifty 50 briefly approached the 26,250 zone, just shy of its all-time high, before settling slightly lower, under the 26,200 mark but still firmly in the green. The Nifty 50 topped the 26,200 for the first time in 14 months.

Further, the Bank Nifty index also recorded a fresh lifetime high at 59,440.10, with HDFC Bank and Axis Bank powering the gains.

Sectoral trends were mixed, with most major indices ending in the green while a few pockets lagged. Financials outperformed, with Nifty Financial Services rising the most at 0.72 percent, followed by gains in Oil &amp; Gas (0.59 percent), Auto (0.44 percent) and Private Bank (0.34 percent). FMCG, IT and Realty saw only marginal moves.

On the downside, Media was the biggest loser with a 1.56 percent drop, while Consumer Durables, Pharma and Healthcare also ended slightly lower. Overall, the market breadth leaned positive despite selective sectoral pressure.

"The bullish trend in the market is likely to sustain aided by positive triggers. At the fundamental level the picture of ‘strong macros but weak micros’ at the beginning of the year is changing to ‘ strong macros and improving micros’. This fundamental support is aided by the change in perception towards India by leading global banks who now consider India fairly valued and buyable in the context of a resilient economy and improving corporate earnings," said VK Vijayakumar, Chief Investment Strategist, Geojit Investments.

He added that the weakening AI trade is another positive for India which can be regarded as an anti-AI trade. FIIs turning buyers in the cash market yesterday is a reflection of this changing perception towards India.

"In the market, this is likely to manifest in preference for and outperformance of largecaps, particularly over small caps whose valuations are hard to justify even after the correction. Bank Nifty, despite the recent run up, has more room to rally since fundamentals and valuations are supportive."

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.

Nifty nears record high as markets climb steadily on global cues, Bank Nifty hits fresh lifetime high

After a soft start, Nifty and Sensex steadily climbed through the day, with gains accelerating post-noon on November 20, echoing strong cues from global markets in a positive, upward-trending session with sustained buying interest.

At close, the Sensex was up 446.21 points or 0.52 percent at 85,632.68, and the Nifty was up 139.50 points or 0.54 percent at 26,192.15. About 1759 shares advanced, 2221 shares declined, and 165 shares unchanged.

In trade today, the Nifty 50 briefly approached the 26,250 zone, just shy of its all-time high, before settling slightly lower, under the 26,200 mark but still firmly in the green. The Nifty 50 topped the 26,200 for the first time in 14 months.

Further, the Bank Nifty index also recorded a fresh lifetime high at 59,440.10, with HDFC Bank and Axis Bank powering the gains.

Sectoral trends were mixed, with most major indices ending in the green while a few pockets lagged. Financials outperformed, with Nifty Financial Services rising the most at 0.72 percent, followed by gains in Oil &amp;amp; Gas (0.59 percent), Auto (0.44 percent) and Private Bank (0.34 percent). FMCG, IT and Realty saw only marginal moves.

On the downside, Media was the biggest loser with a 1.56 percent drop, while Consumer Durables, Pharma and Healthcare also ended slightly lower. Overall, the market breadth leaned positive despite selective sectoral pressure.

&quot;The bullish trend in the market is likely to sustain aided by positive triggers. At the fundamental level the picture of ‘strong macros but weak micros’ at the beginning of the year is changing to ‘ strong macros and improving micros’. This fundamental support is aided by the change in perception towards India by leading global banks who now consider India fairly valued and buyable in the context of a resilient economy and improving corporate earnings,&quot; said VK Vijayakumar, Chief Investment Strategist, Geojit Investments.

He added that the weakening AI trade is another positive for India which can be regarded as an anti-AI trade. FIIs turning buyers in the cash market yesterday is a reflection of this changing perception towards India.

&quot;In the market, this is likely to manifest in preference for and outperformance of largecaps, particularly over small caps whose valuations are hard to justify even after the correction. Bank Nifty, despite the recent run up, has more room to rally since fundamentals and valuations are supportive.&quot;

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.

2 out of 4 years NIFTY MID SELECT has given positive returns in November.

Type	R1	R2	R3	PP	S1	S2	S3
Classic	14,052.47	14,112.73	14,152.67	14,012.53	13,952.27	13,912.33	13,852.07
Fibonacci	14,050.81	14,074.46	14,112.73	14,012.53	13,974.26	13,950.61	13,912.33
Camarilla	14,001.39	14,010.57	14,019.76	14,012.53	13,983.01	13,973.83	13,964.64

INDEX CONTRIBUTION - NIFTY MID SELECT

Net Contribution

MC TechnicalsPRO

Pivot levels

Seasonality analysis

News

Moving Averages
Technical Indicators
Moving Averages Crossovers