GIFT Nifty indicates quiet start for markets amid weak global cues, key levels to watch today

Nifty, Sensex stare at muted start.

India's headline equity indices Nifty 50 and Sensex may see a muted open on November 19, as poor global cues dampen sentiment. After snapping a six-session rally in the previous session, the benchmarks are likely to kick off the session on a quiet note.

At 7.40 am, the GIFT Nifty index was quoting 25,946, higher by 35 points or 0.14 percent.

Global stock markets continue to trade under pressure, extending a volatile phase that has pulled major U.S. indices like the S&P 500 and Nasdaq into their longest losing streaks in months.

"The weakness is not a panic-driven crash but a broad and healthy correction following an overheated rally through most of 2025. Even after this pullback, the S&P 500 remains up nearly 15 percent for the year, but the latest decline reflects fading risk appetite and a shift in global sentiment," said Ponmudi R, CEO of Enrich Money.

US stocks ended lower on Tuesday, with the S&P 500 putting in a fourth straight session of losses as valuation worries hit big technology-related shares.

The Dow Jones Industrial Average fell 1.07 percent, the S&P 500 lost 0.83 percent and the Nasdaq Composite lost 1.21 percent.

Asian equities swung between gains and losses as investors weighed the fallout from the selloff in global stocks, with traders watching whether regional markets can stabilize after Wall Street’s sharp losses.

Key levels to watch in trade on November 19

From the derivatives perspective, the 26,000 strike continues to dominate as the highest Call OI, with 1.35 crore contracts, making it a strong immediate resistance. "On the downside, the 25,500 strike holds 70.37 lakh Put OI, reinforcing it as a reliable support zone. This OI setup reflects a well-defined trading range for the index in the near term," said Dhupesh Dhameja, Derivatives Research Analyst, SAMCO Securities.

He added that the immediate support for the index stands at 25,750–25,700, where buyers have consistently stepped in over the past week. As long as Nifty sustains above this zone, the broader trend remains resilient. On the upside, the index needs a decisive close above 26,100 to break out of the current supply zone and unlock the next leg of the rally toward the all-time high of 26,277.35.

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