Strong global cues indicate positive open for Nifty, Sensex; key levels to watch on November 20

A relief rally swept across Asian markets and lifted stocks in early trading on Thursday as investors cheered Nvidia's market-topping earnings.

Domestic benchmark indices Nifty 50 and Sensex are set to extend their gains on November 20, led by positive global cues following AI giant Nvidia’s earnings.

At 7.35 am, the GIFT Nifty index was quoting 26,141, higher by 88 points or 0.34 percent.

Overnight, US equities ended firmly in the green, led by a sharp rebound in technology shares after Nvidia’s strong earnings guidance reignited optimism across AI and semiconductor-linked sectors.

All three major indices — the S&P 500, Dow Jones, and Nasdaq — posted healthy gains, while the VIX slipped over 4 percent, signalling a more risk-embracing tone heading into the day.

The Dow Jones Industrial Average rose 0.10 percent, the S&P 500 gained 0.38 percent and the Nasdaq Composite advanced 0.59 percent.

A relief rally swept across Asian markets and lifted stocks in early trading on Thursday as investors cheered Nvidia's market-topping earnings.

Key levels to watch on November 20

In the previous session, the Nifty 50 formed a strong bullish candle on the daily chart.

Om Mehra, Technical Research Analyst, SAMCO Securities noted that the support is now placed around 25,850–25,800, and holding above this belt keeps the near-term outlook favourable.

On the higher side, 26,100–26,150 remains the resistance zone, which is the key barrier before a move toward the all-time high at 26,277.35. As long as Nifty sustains above 25,800, a buy-on-dip approach remains suitable.

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