Market Overview

Indian equities extended their losing streak on Thursday, as persistent selling pressure and weak global cues weighed heavily on investor sentiment. The Nifty 50 slipped below the 25,500 mark, continuing its pattern of lower highs and lower lows for the second straight session.

After a subdued start, the index attempted a brief recovery but failed to hold onto early gains, ending 87 points lower at 25,509. The broader market remained under pressure, with Nifty Midcap 100 falling 0.95% and Nifty Smallcap 100 down 1.40%, underperforming the benchmark indices.

Among sectoral performers, Nifty IT and Auto managed to post marginal gains, while Media, Metal, and Consumer Durables dragged the market lower.
Top gainers included Asian Paints, Reliance Industries, and UltraTech Cement, whereas Grasim, Hindalco, and Adani Enterprises emerged as the key laggards.

Meanwhile, fintech player Pine Labs is set to launch its ₹3,900-crore IPO on Friday, with a price band of ₹210–221 per share, valuing the firm at over ₹25,300 crore.

Setup 1 — Nifty 50: Key Resistance & Support Levels

Nifty Close: 25,509

Resistance (Pivot Points): 25,700 / 25,800 / 25,880
Support (Pivot Points): 25,450 / 25,400 / 25,350

Market View

The Nifty 50 continued its downtrend, forming a lower high–lower low structure for the second consecutive day. The index has now entered a crucial support zone between 25,400–25,450, which aligns with its previous trendline resistance.

Although the overall bias remains negative, holding above this support area could provide some near-term relief. On the upside, any rebound will likely face resistance around 25,700–25,800, beyond which a short-term trend reversal may emerge.

Momentum indicators remain weak, with the RSI drifting near the 50 mark, suggesting fading strength. The MACD continues to signal a bearish crossover, reflecting sustained selling pressure.

Interpretation:

• Resistance Zone: 25,700 / 25,800
• Support Zone: 25,400 / 25,350
• Bias: Negative to Neutral
• Outlook: Consolidation possible; watch for reversal near support levels.

Dhwani Patel notes that Nifty’s inability to hold above 25,500 indicates fragile sentiment. A decisive close below 25,400 may accelerate the downside, while holding above could trigger a mild recovery toward 25,750.

Setup 2 — Bank Nifty: Key Resistance & Support Levels

Bank Nifty Close: 57,776

Resistance (Pivot Points): 57,900 / 58,000 / 58,100
Support (Pivot Points): 57,400 / 57,300 / 56,800

Market View

The Bank Nifty index extended its decline for the second straight session, consolidating near its previous swing support. The index continues to hover around its 20-day EMA zone (57,400–57,300), which is expected to act as an immediate cushion.

A breakdown below 57,300 could drag the index toward 56,800, while any sustained rebound will face resistance near 57,900–58,000.

The RSI has slipped below 60, and the MACD is nearing a bearish crossover, both indicating a weakening short-term trend.

Interpretation:

• Resistance Zone: 57,900 / 58,000
• Support Zone: 57,300 / 56,800
• Bias: Bearish
• Outlook: Weakness likely; selling pressure may intensify below 57,300.

Dhwani Patel suggests that traders should watch for a decisive move below 57,300 for fresh short opportunities, while a recovery above 58,000 could signal temporary stabilization.

Setup 3 — Nifty Options Data

• Maximum Call OI: 26,000 strike (1.46 crore contracts) – Major resistance.
• Maximum Put OI: 25,500 strike (1.22 crore contracts) – Key support.
• Fresh Call Writing: Seen at 25,700 and 25,800 strikes.
• Fresh Put Writing: Active at 25,400 strike, indicating localized support.

Interpretation:
Option data suggests a range-bound scenario between 25,400–25,800, with strong resistance near 25,800 and support around 25,400.

Setup 4 — Bank Nifty Options Data

• Maximum Call OI: 58,000 strike (14.1 lakh contracts) – Resistance.
• Maximum Put OI: 57,000 strike (12.8 lakh contracts) – Support.
• Fresh Call Writing: Observed at 58,000 and 58,500 strikes.
• Fresh Put Writing: Active at 57,000 strike.

Interpretation:
Option positions indicate a restricted trading range for Bank Nifty between 57,000–58,000, with bias slightly tilted toward the downside.

Setup 5 — Sectoral Trends

• IT & Auto: Continued showing resilience amid global cues.
• Metals & Consumer Durables: Weakness persists due to soft commodity prices.
• Financials: Witnessed mild selling pressure with banks leading the decline.
• Pharma: Defensive buying observed as investors sought safety amid volatility.

Dhwani Patel emphasizes that sector rotation is likely to continue, with defensive stocks providing stability in an otherwise weak market environment.

Setup 6 — India VIX

The India VIX edged slightly higher to 12.35, up 1.2% from the previous session, reflecting mild volatility.
However, the fear gauge remains below the 13–14 zone, suggesting that despite recent corrections, market sentiment remains under control.

Setup 7 — Intraday Outlook

Index	Bullish Above	Bearish Below	Range
Nifty 50	25,750	25,400	25,400–25,800
Bank Nifty	57,900	57,300	57,300–58,000

Strategy by Dhwani Patel

• Avoid high-leverage positions amid volatile conditions.
• Use rebounds near resistance for shorting opportunities.
• Monitor Nifty’s 25,400–25,450 support zone closely for intraday direction.
• For Bank Nifty, a close below 57,300 may trigger extended selling.

Setup 8 — Finversify Market Insight

The Trade Setup for 7 November 2025 reflects a neutral-to-cautious stance, with the market continuing to consolidate near key supports.
While the broader trend remains intact, traders should remain vigilant as short-term indicators signal pressure at higher levels.

A decisive move above 25,800 (Nifty) or 58,000 (Bank Nifty) could reignite bullish momentum; failure to sustain these levels may invite further profit booking.

Key Takeaways

• Nifty Range: 25,400–25,800
• Bank Nifty Range: 57,300–58,000
• Bias: Neutral to Bearish
• Strategy: Trade with strict stop-losses; prefer short-term trades in strong sectors

Disclosure & Disclaimer: Dhwani Patel (SEBI Registration No: INH200008608) is a SEBI Registered Research Analyst. This report is intended solely for educational and informational purposes and should not be considered as investment advice. All trading and investment decisions involve risk.