Nifty, Sensex set for sixth day of gains, key levels to watch on November 17

Dalal Street likely to open higher.

Dalal Street's headline indices Nifty 50 and Sensex may extend their winning streak to the sixth consecutive session on November 17, to start the week on a positive note. Stable inflation, resilient consumer demand, a steady monetary policy backdrop, and strong DII inflows continue to underpin the market’s positive momentum.

At 7.50 a.m., the GIFT Nifty index was quoting 26,017., higher by 55 points or 0.2 percent.

Wall Street stocks ended mixed as investors looked ahead to Nvidia's quarterly results next week and worried that the Federal Reserve may hold off on cutting U.S. interest rates in December. The Nasdaq gained 0.13 percent, while the Dow Jones Industrial Average declined 0.65 percent.

Asian shares started the week on a cautious note as investors braced for a barrage of US economic data amid lingering uncertainty over the Federal Reserve’s policy path. Japan edged lower along with Australia, while South Korean equities rose. US equity-index futures edged up.

However, the global environment remains delicate. Sharp sell-offs in major U.S. tech stocks, soft investment data from China, and weakness across European markets are keeping global investors cautious. "China’s slowing growth is particularly notable given its outsized influence on global demand, and this ongoing turbulence heightens the risk of foreign capital outflows from emerging markets including India," said Ponmudi R, CEO of Enrich Money.

Nifty 50 continues to maintain a stable upward structure, with the 25,950–26,000 zone acting as the immediate breakout level. A sustained move above this band could open resistance targets at 26,100 and 26,200, marking the upper boundary of the recent consolidation phase.

On the downside, only a slip below 25,900 may lead to a mild intraday pullback toward 25,822–25,750, though the broader sentiment remains firmly upward-biased. Technically, Nifty is trading above the middle Bollinger Band (20-SMA) but faces resistance at the upper band near 26,090, making it the key ceiling to watch in today’s session, Ponmudi R added.