Nifty, Sensex may open gap-up on Fed rate cut bets; key levels to watch on November 26

Wall Street rallied overnight.

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26 Aug, 2025 12:21

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Domestic benchmark indices Nifty 50 and Sensex may see a gap-up open on November 26, as traders bet that the Federal Reserve will trim its benchmark lending rate.

At 7.05 am, the GIFT Nifty index was quoting 26,149, higher by 264 points or 1.02 percent.

Overnight, stocks regained momentum as US consumer confidence in November saw its steepest drop since April, and retail sales rose modestly in September, suggesting consumer spending is cooling after months of strong demand. The delayed economic reports out of the US further cemented bets for a Fed cut in December, even after Chair Jerome Powell warned last month that a reduction isn’t a foregone conclusion.

The Dow Jones Industrial Average rose 1.4 percent, the S&P 500 gained 0.9 percent and the Nasdaq Composite advanced 0.67 percent.

Asian stocks extended their gains into a third day, tracking advances on Wall Street as weak US consumer data lifted bets on a Federal Reserve interest-rate cut next month.

Key levels to watch on November 26

The Nifty 50 index remains well-supported above its 20-day EMA at 25,841, a trend anchor that has held steady for nearly two months. Despite yesterday’s mild decline to 25,884, the broader structure stays bullish as long as the index holds above 25,841–25,850, according to experts.

“With Gift Nifty indicating a 200+ point gap-up, Nifty is set to open directly above yesterday’s supply zone of 26,000–26,050,” said Ponmudi R, CEO of Enrich Money.

If the opening strength sustains, the next resistance zones for the Nifty 50 to watch are 26,130, followed by 26,250–26,300, which remain the key upside targets. On the downside, intraday support now shifts higher to 25,950–25,900, with 25,850 acting as the secondary cushion in case of profit-booking.

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.