Hopes of US shutdown ending likely to lift Nifty, Sensex; key levels to watch on November 11

Nifty, Sensex snapped a three-day losing streak in the previous session.

India’s benchmark indices Nifty 50 and Sensex are likely to open in the green on November 11, tracking positive global cues after the U.S. Senate advanced a bill to end the longest federal government shutdown. The move has revived hopes of smoother economic momentum.

At 7.40 a.m., the GIFT Nifty index was quoting 25,723, higher by 60 points or 0.2 percent.

Markets are expected to view this as a relief, as it lowers the risk of prolonged disruption to government services, payments, and key data releases. If the bill clears all stages in the coming days, the U.S. government could reopen soon, easing uncertainty for investors.

The easing in global uncertainty is set to boost sentiment, support broad-based buying, and reinforce a risk-on tone in the domestic market as traders position themselves more confidently.

Wall Street ended sharply higher overnight, led by big gains in Nvidia, Palantir and other heavyweight AI-related companies following progress in Washington to end a record government shutdown. The S&P 500 climbed 1.54 percent, the Nasdaq gained 2.27 percent, while the Dow Jones Industrial Average rose 0.81 percent.

Asian stocks advanced for a second consecutive day as progress toward ending the record-long US

government shutdown lifted sentiment, sparking a cross-asset rally from commodities to cryptocurrencies.

Key levels to watch in trade on November 11

The Nifty is trading within a broad rising channel, holding firm above its key support zone at 25,500–25,550. A sustained breakout above 25,700–25,820 could trigger fresh momentum toward 26,000, while a slip below 25,500 may prompt a retest of 25,300–25,150.

"Overall, as long as the index holds above the lower channel base, the broader market structure remains constructive, with dips likely to attract renewed buying interest," said Ponmudi R, CEO - Enrich Money.

On the Bank Nifty front, he noted that the index is consolidating near its ascending wedge resistance zone of 58,000–58,200, reflecting a pause after recent gains. A decisive breakout above this range could accelerate the upmove toward 58,600–59,000, while immediate support is placed at 57,800–57,500. Overall, sentiment remains positive, with buying interest likely to emerge on dips.

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