Nifty 50, Sensex today: What to expect from Indian stock market in trade on November 24

By Admin

24 Nov, 2025

The Indian stock market is set for a positive start on Monday, supported by strong global cues and encouraging early indicators. Trends on the Gift Nifty also suggest optimism, with the index trading near the 26,155 mark about 78 points higher than the Nifty futures’ previous close. This signals that market sentiment may turn upbeat after Friday’s decline.

On the last trading day, the benchmark indices snapped their two-day gaining streak. The Sensex dipped 400.76 points (0.47%) to close at 85,231.92, while the Nifty 50 fell 124 points (0.47%) to end at 26,068.15. As markets attempt to regain strength today, here’s a detailed look at what traders can expect from Sensex, Nifty 50, and Bank Nifty.

Sensex: Key Levels to Watch

The Sensex has formed a bullish candle on the weekly charts, signaling continuation of the uptrend. The weekly and daily formations indicate sustained positive momentum.

According to Amol Athawale, Vice President - Technical Research at Kotak Securities, the zones around 85,000 and 84,500 (coinciding with the 20-day SMA) are critical support levels. Staying above these zones could keep the bullish sentiment intact. On the upside, immediate resistance is seen near 85,800. If the index breaks above this level, it may rally further toward 86,500.

However, a fall below 84,500 could shift market sentiment and potentially trigger profit-booking or a pause in the uptrend.

Nifty OI Data: Bulls Defend Key Supports

The options market shows a balanced battle between buyers and sellers. Total Call Open Interest jumped by more than 6 crore contracts, indicating that Call writers are attempting to keep the index below 26,200. Meanwhile, strong Put writing at 25,900–26,000 suggests that bulls are actively defending these crucial supports.

Ponmudi R, CEO of Enrich Money, notes that heavy Call writing between 26,200 and 26,300 may act as a temporary ceiling. Still, sentiment remains positive as long as Put writers hold their positions and don’t shift to lower strikes.

Nifty 50: Support at 26,000–25,900 Likely to Hold

Nifty 50 formed a red candle on the daily chart, showing selling pressure at higher levels. Despite this, the index gained 0.61% last week and formed a bullish candle with an upper shadow signaling that while profit-booking is present, the broader trend remains upward.

Nagaraj Shetti from HDFC Securities expects the index to form a higher bottom in the coming sessions around 26,000–25,900, followed by a bounce. Immediate resistance remains between 26,250 and 26,300.

Nilesh Jain from Centrum Broking also points out that momentum indicators continue to favor buyers. He anticipates a consolidation phase before the next strong move, with the index likely to trade between 25,800 and 26,200. The 21-DMA around 25,840 should act as key support.

Market analyst Om Ghawalkar concurs, identifying resistance at 26,100–26,200 and support at 25,900–26,000.

Bank Nifty: Short-Term Weakness but Broader Trend Positive

The Bank Nifty closed 480 points lower at 58,867.70 on Friday, forming a red candle on the daily chart. The index was up 0.60% for the week but flashed a shooting star pattern signaling short-term weakness.

Hrishikesh Yedve from Asit C. Mehta Investment Intermediates advises traders to book profits on pullbacks as long as the index stays below 59,440. Immediate support lies at 58,600, with the next support at 58,050.

On the other hand, Puneet Singhania of Master Trust Group highlights that the index still trades comfortably above its previous breakout zone of 58,500 and remains supported by the 21-day and 55-day EMAs. Weekly MACD remains positive, reinforcing the bullish structure. Resistance is expected near 59,300, and a breakout may drive the index toward 59,800.

Conclusion

Market sentiment for November 24 appears cautiously optimistic. With Gift Nifty indicating a positive opening, key indices may attempt a recovery from Friday’s dip. While profit-booking at higher levels could cause intraday volatility, strong supports in Nifty 50 and Bank Nifty may help sustain the broader uptrend.

Disclaimer: The views and predictions mentioned here are based on analysts' opinions. Investors should consult certified financial experts before making investment decisions.