Mumbai, Nov 04, 2025: Indian markets ended lower on November 4th , with the Nifty slipping below 25,600 amid broad-based selling. Weak global cues and profit booking on the weekly expiry session led to the selling pressure. India’s economic fundamentals stayed strong, supported by a robust manufacturing PMI and steady GST collections, indicating healthy growth momentum. At the close, the Sensex fell 519 points (0.62%) to 83,459.15, while the Nifty declined 166 points (0.64%) to 25,597.65. Except for consumer durables and telecom, all sectors ended lower, with IT, auto, FMCG, metal, power, realty, and PSU bank indices down 0.5–1%. The midcap index dropped 0.4%, and the small-cap index slipped 0.8%. Markets will remain closed on November 5th for Guru Nanak Jayanti.

Nifty Outlook

The index formed a bearish candlestick pattern with a lower high and lower low for the fourth session in a row highlighting extended profit booking on the weekly expiry session. Nifty has seen a corrective decline of more than 500 points in the last nine sessions which has helped the index work off the overbought condition in the daily stochastic oscillator. We believe the current breather should be used to accumulate quality stocks in a staggered manner from short to medium term prospective. Index after the recent corrective decline is approaching key support area of 25,500–25,300, which is likely to hold as it is the confluence of the recent breakout zone, key retracement of previous up move and 50 days EMA. Formation of higher high and higher low in the daily chart will be the first signal of reversal of the current corrective trend with immediate resistance placed at 25,800 and last two weeks almost identical high around 26,100 levels.

Bank Nifty Outlook

The index formed a small bear candle which remained enclosed inside previous session high-low range highlighting consolidation amid stock specific action. Going ahead, index to extend consolidation of the last two weeks in the range of 57300-58500 thus forming base after the next leg of up move. A decisive move above last two week’s high of 58,577 would confirm a breakout continuation, paving the way for a rally towards 59,000 being the 138.2% Fibonacci projection of the recent correction (57,628–53,561). 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, the current consolidation should be viewed as buying opportunities within these support areas. PSU Banking stocks to extend the recent outperformance.

Attributed to Bajaj Broking