The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open lower on Thursday, tracking mixed
The trends on Gift Nifty also indicate a weak start for the Indian benchmark index. The Gift Nifty was trading around
26,078 level, a discount of nearly 58 points from the Nifty futures’ previous close.
Investors will focus on the two-day state visit of Russian President Vladimir Putin to India beginning today, 4 December
2025. The outcomes of the bilateral talks between Vladimir Putin and Prime Minister Narendra Modi will be watched out
On Wednesday, the Indian stock market extended losses for the fourth straight session, with the benchmark Nifty 50
closing below 26,000 level.
The Sensex fell 31.46 points, or 0.04%, to close at 85,106.81, while the Nifty 50 settled 46.20 points, or 0.18%, lower
Here’s what to expect from Sensex, Nifty 50 and Bank Nifty today:
The 86,000 – 86,200 region acts as the next major resistance for Sensex, and a breakout above this zone may open the
door to fresh record highs. Major support is seen near 85,100 – 85,000, said Mayank Jain, Market Analyst, Share.Market.
The derivatives setup reflects a cautious tone, with call writers aggressively adding exposure at near and at-the-money
strikes. Conversely, put writers have partially reduced their positions and shifted to lower strikes, hinting at
expectations of continued consolidation or a mildly negative bias.
“A significant accumulation of nearly 95.96 lakh call contracts at the 26,000 strike firmly establishes it as a heavy
resistance ceiling. In contrast, strong put open interest of 89.34 lakh contracts at the 25,500 strike highlights this
level as a crucial support base,” said Dhupesh Dhameja, Derivatives Research Analyst, SAMCO Securities.
The Put-Call Ratio (PCR) eased further to 0.68 from 0.72, indicating rising caution and increasing dominance of call
writers near upper resistance zones, he added.
Nifty 50 has formed a small red candle on the daily chart with shadows on either side, indicating uncertainty.
“The formation of lower highs and lower lows continues to reflect selling pressure on intraday pullbacks. For any
meaningful recovery and a potential move toward the 26,300 zone, Nifty 50 must decisively reclaim and sustain above
26,100. Until then, the market remains in a corrective and consolidation phase,” said Ponmudi R, CEO of Enrich Money.
Sudeep Shah, Head - Technical and Derivatives Research at SBI Securities said that the zone of 25,830 – 25,800 zone is
likely to act as an important support zone for the Nifty 50 index.
“Any sustained move below 25,800 could drag the index, potentially taking it lower towards 25,650, followed by 25,500.
On the upside, the resistance is placed in the zone of 26,050 - 26,100,” said Shah.
According to Mayank Jain, the 26,150 – 26,200 zone now serves as a crucial resistance-turned-trigger, and a sustained
close above this band could pave the way towards 26,350+. Immediate support, he added, remains at 25,850 – 25,800.
Bank Nifty gained 74.45 points, or 0.13%, to close at 59,348.25 on Wednesday, forming a bullish candle with a long lower
shadow on the daily chart, reflecting buying interest at lower levels.
“As long as the Bank Nifty index remains below 60,114, any bounce should be used for profit booking. On the downside,
immediate support is placed near 58,860, where the 21-DEMA is positioned, while on the upside, 60,000 – 60,120 will act
as a major hurdle zone,” said Hrishikesh Yedve, AVP Technical and Derivative Research, Asit C. Mehta Investment
Yedve advises short-term traders to adopt a buy-near-support and sell-near-resistance strategy for Bank Nifty.
Vatsal Bhuva, Technical Analyst at LKP Securities noted that RSI remains in a bearish crossover, so a cautious stance is
advisable despite the rebound.
“Wednesday’s price action further confirmed that bulls are still in control as the Bank Nifty index once again respected
its 20-day EMA. Ahead of the RBI policy announcement on Friday, volatility is expected, with support at 58,900 and
resistance at 59,800 and 60,000,” said Bhuva.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of
Mint. We advise investors to check with certified experts before making any investment decisions.