Market Overview

Indian markets ended the previous session on a mixed note, with volatility continuing to dominate investor sentiment. The Nifty 50 managed to hold key support levels and formed a bullish candle after three consecutive sessions of weakness, suggesting that buyers are gradually returning near lower zones.

Despite this rebound, broader market participation remained limited as traders awaited fresh triggers amid global uncertainty. The Bank Nifty, however, outperformed the benchmark index, helping markets stabilize ahead of the new week.

According to Dhwani Patel, the overall structure remains neutral-to-cautious, with Nifty yet to reclaim short-term moving averages. Sustained movement above resistance zones may revive momentum, while failure to do so could keep the market in a consolidation phase.

Setup 1 — Nifty 50: Key Resistance & Support Levels

Nifty Close: 25,492

Resistance (Pivot Points): 25,543 / 25,598 / 25,687
Support (Pivot Points): 25,365 / 25,310 / 25,221

Market View

The Nifty 50 formed a bullish candle with a long lower shadow and a minor upper shadow, reflecting strong buying at lower levels despite intermittent selling pressure.

The index continues to trade below short-term moving averages and the midline of the Bollinger Band, but remains above medium- and long-term averages, indicating that the broader trend is still intact.

Momentum indicators show cautious sentiment — the RSI stands at 49.16, and the MACD remains below the reference line, with the histogram further weakening.
All of this suggests a bearish-to-neutral momentum, where follow-through buying above 25,600 could trigger a short-term reversal.

Interpretation:

• Resistance Zone: 25,543 / 25,598 / 25,687
• Support Zone: 25,365 / 25,310 / 25,221
• Bias: Neutral
• Outlook: Support-based buying likely; resistance capped near 25,600–25,700.

Dhwani Patel observes that as long as Nifty holds above 25,350, intraday dips may attract buying. A decisive close above 25,600 would be the first sign of recovery.

Setup 2 — Bank Nifty: Key Resistance & Support Levels

Bank Nifty Close: 57,877

Resistance (Pivot Points): 58,001 / 58,200 / 58,522
Support (Pivot Points): 57,356 / 57,157 / 56,835

Resistance (Fibonacci Retracement): 58,735 / 60,142
Support (Fibonacci Retracement): 57,394 / 56,662

Market View

The Bank Nifty led the recovery, gaining 323 points and forming a bullish candle with upper and lower shadows — signaling renewed buying interest and intraday volatility.

The index climbed back above short-term moving averages and the midline of the Bollinger Band, hinting at improving momentum.
The RSI moved higher to 60.03, though it still holds a bearish crossover, while the MACD remained below its reference line, reflecting cautious optimism.

Interpretation:

• Resistance Zone: 58,001 / 58,200 / 58,522
• Support Zone: 57,356 / 57,157 / 56,835
• Bias: Positive to Neutral
• Outlook: Improving momentum; sustain above 58,000 could extend rally toward 58,500.

Dhwani Patel suggests that traders should closely monitor the 58,000 mark. A strong close above it could trigger follow-up buying, while a fall below 57,300 would weaken sentiment again.

Setup 3 — Nifty Options Data

• Maximum Call OI: 25,800 strike (1.48 crore contracts) – Resistance
• Maximum Put OI: 25,400 strike (1.32 crore contracts) – Support
• Fresh Call Writing: Seen at 25,600 and 25,700 strikes
• Fresh Put Writing: Active at 25,400 and 25,300 strikes

Interpretation:

The options data indicates a sideways trading range for Nifty between 25,350–25,700, with positional resistance around 25,700.

Setup 4 — Bank Nifty Options Data

• Maximum Call OI: 58,000 strike (14.85 lakh contracts) – Resistance
• Maximum Put OI: 57,000 strike (12.97 lakh contracts) – Support
• Call Writing: Seen at 58,200 and 58,500 strikes
• Put Writing: Strong at 57,500 and 57,000 strikes

Interpretation:

Bank Nifty options suggest a range-bound move between 57,300–58,500, with bullish bias emerging above 58,000.

Setup 5 — Sectoral Trends

• Banking & Financials: Recovery driven by select private banks
• IT: Witnessed profit booking after last week’s gains
• Metals: Weakness persisted due to global commodity softness
• FMCG: Maintained stability amid defensive buying
• Auto: Continued to outperform with strong volume momentum

Dhwani Patel notes that sectoral rotation continues, and traders should focus on financials and autos for intraday opportunities.

Setup 6 — India VIX

The India VIX dipped 1.5% to 12.12, suggesting lower volatility and improved market confidence.
A sustained move below 12 may continue to support a short-term recovery.

Setup 7 — Intraday Outlook

Index	Bullish Above	Bearish Below	Range
Nifty 50	25,600	25,350	25,350–25,700
Bank Nifty	58,000	57,300	57,300–58,500

Strategy by Dhwani Patel

• Prefer selective long positions above key breakout levels.
• Avoid aggressive shorting unless Nifty closes below 25,350.
• For Bank Nifty, sustaining above 58,000 may extend gains.
• Use strict stop-losses given intraday volatility.

Setup 8 — Finversify Market Insight

The Trade Setup for 10 November 2025 indicates a cautious recovery following a weak week.
With Nifty stabilizing near support and Bank Nifty showing resilience, traders can expect range-bound movement with bullish undertones if buying continues above key short-term averages.

However, sustained rejection near resistance levels may keep the market volatile and prevent a breakout in the short term.

Key Takeaways

• Nifty Range: 25,350–25,700
• Bank Nifty Range: 57,300–58,500
• Bias: Neutral to Positive
• Strategy: Buy near supports, book profits near resistances

Disclosure & Disclaimer: DHWANI PATEL (SEBI Registration No: INH200008608) is a SEBI Registered Research Analyst. The report is for informational and educational purposes only and does not constitute investment advice. Trading and investing involve risk; consult a qualified advisor before taking positions.