Stock market today: Gift Nifty down 59 points; key levels for Nifty, Sensex & Nifty Bank

India's equity benchmarks are likely to kickstart November on a muted note on Monday, after registering strong gains last month, with quarterly earnings and monthly auto sales data likely guiding sentiment. Global cues continue to remain positive, while traders will be eyeing trade deal developments and Q2 earnings.

Nifty futures on the NSE International Exchange traded 59 points, or 0.23 per cent, down at 25,846.50, hinting at a weak start for the domestic market on Monday. Asian stocks rose as investors weighed last week's megacap earnings. Nikkei and KOSPI gained more than 2 per cent each, while Hang Seng was up half a per cent.

Markets are likely to remain range-bound with a positive bias as investors monitor global developments, foreign fund flows, and next week’s focus will also be on monthly auto sales figures, which will offer cues on festive-season demand trends, alongside quarterly results, said Siddhartha Khemka, Head of Research of Wealth Management at Motilal Oswal Financial Services.

Wall Street's main stock indexes closed higher on Friday. The Dow Jones Industrial Average added 40.75 points, or 0.09 per cent, to 47,562.87, the S&P 500 gained 17.86 points, or 0.26 per cent, to 6,840.20 and the Nasdaq Composite rose 143.81 points, or 0.61 per cent, to 23,724.96.

The dollar firmed to a near three-month high as investors awaited the release of data this week to gauge the health of the US economy. The dollar index edged up slightly to 99.82. In commodities, gold was 0.4 per cent lower at $3,985.35 per ounce. Brent crude futures rose 0.49 per cent to $65.10 a barrel, while US West Texas Intermediate crude was at $61.33 a barrel, up 0.61 per cent.

Markets are expected to remain range-bound in the near term, with domestic earnings announcements and global macro developments guiding overall sentiment. While mixed global cues may cause short-term fluctuations, supportive factors are likely to provide a floor for the market, asid Ajit Mishra, SVP of Research at Religare Broking. "Traders should maintain a stock-specific 'buy-on-dips' approach."

Provisional data available with NSE suggest that FPIs turned net sellers of domestic stocks to the tune of Rs 6,769.34 crore on Friday. On the other hand, domestic institutional investors (DIIs) turned buyers of Indian equities to the tune of Rs 7,068.44 crore on a net-net basis. FPIs poured in 14,610 crore in Indian equities in October 2025, after three-months of exodus.

The Indian economy is showing sustained growth with robust corporate earnings, normalized inflation fundamentals, and strong interest in IPOs. FPIs increased exposure to financials, automobiles and metals, while decreasing holdings in IT, healthcare and FMCG. The renewed interest was buoyed by talk of a possible India–US trade deal, said Swatantra Bhatia, Partner at Forvis Mazars India.
 

Nifty50 & Sensex outlook

Nifty has formed a double top-like pattern on daily and intraday charts and a shooting star like formation has appeared and on weekly charts, indicating further weakness. However, the short-term market outlook remains positive, said Amol Athawale, VP of Technical Research at Kotak Securities.

"We believe that the 25,700–25,650/83,900-83,700 zone will act as a crucial support level for traders, while 26,000/85,000 and 26,100/85,300 could serve as key resistance areas for the bulls. A successful breakout above 26,100/85,300 could push the market toward 26,250–26,350/85,800-86,100. Conversely, if the market falls below 25,650/83,700, sentiment could turn negative," he said.

Nifty is trading above its key EMAs- including the short-term, medium-term, and long-term EMAs. This alignment continues to indicate a strong underlying uptrend, suggesting that the index remains well-supported on dips. However, the RSI is reflecting a sideways trend and indicating that momentum has flattened out, hinting at a possible pause or consolidation phase, said Choice Broking.

"In terms of levels, the Nifty has immediate support at 25,600 and 25,500, which could provide buying opportunities on declines. On the upside, resistance is seen at 25,800 and 26,000, with the latter acting as a key hurdle. A sustained breakout above 26,000 could trigger a bullish move, potentially targeting the 26,100–26,300 zone in the coming weeks," it added.
 

Nifty Bank outlook

Nifty Bank may extend consolidation of the last two weeks in the range of 57500-58500 thus forming base after the next leg of up move, said Bajaj Broking. "On the downside, immediate support is seen around 57,300–57,500, aligning with the previous breakout zone, while a stronger support base lies near 56,800–56,500. Overall, the outlook remains positive," it said.

Going forward, support is seen around 57,600–57,500 — coinciding with the 23.6 per cent Fibonacci retracement of the prior up move, said By Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities. "On the upside, resistance lies at 58,400–58,500, and a decisive close above this zone could open the door for a sharp rally toward 59,000–59,500."