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Markets extended their positive undertone, with sustained buying interest helping indices maintain their upward trajectory despite intermittent profit booking.
On 11 November 2026, Indian equity markets resumed trade after the holiday with strong bullish momentum, supported by easing crude oil prices, sustained FII inflows, and positive global cues. The Nifty 50 advanced 210.40 points or 0.84% to close at 25,255, while the Sensex gained 772.75 points or 0.95% to settle at 81,879.40, extending the ongoing uptrend and scaling fresh multi-month highs. Market breadth remained firmly positive, with advances significantly outnumbering declines, reflecting broad-based participation across sectors.
RKFORGE: Buy above ₹765, stop ₹725 target ₹840 (Multiday)
AARTIIND: Buy above ₹485, stop ₹460 target ₹525 (Multiday)
ABLBL: Buy above ₹81.80, stop ₹78 target ₹88 (Multiday)
Banking stocks continued to lead the rally, with Bank Nifty gaining nearly 1.8% and PSU banks outperforming on renewed buying interest. Auto stocks also remained in demand, with InterGlobe Aviation and Mahindra & Mahindra emerging among the top gainers.
In contrast, profit-booking was visible in select IT counters, with Tech Mahindra, TCS, and other technology names underperforming despite the positive market environment. Broad-based buying in financials, automobiles, and capital goods provided the necessary support to offset weakness in technology stocks.
Investor sentiment was boosted by falling crude prices, continued foreign institutional buying, and improving confidence in the domestic growth outlook. Technically, Nifty maintained its breakout above the psychological 25,000 mark, reinforcing the bullish undertone. While momentum remains strong, elevated RSI readings suggest the possibility of short-term consolidation. Immediate support is seen near 25,000, while resistance lies in the 25,400–25,500 zone. Overall, the market structure remains positive, with buy-on-dips continuing to be the preferred strategy as long as key support levels hold.
A strong follow-through on the Nifty did produce a robust start on the Wednesday morning only to witness some profit booking that dragged down the prices eventually. With the demand continuing to emerge at lower levels we saw the intraday rebound to push the prices again towards the high. Immediate support can now be revised to 24,800, while resistance is seen first around the 25800 zone. Overall, the market appears to be consolidating after a strong rally, with banking stocks providing leadership while investors selectively book profits in sectors that have outperformed in recent weeks.
Market continued to hold on to the high momentum, such readings are common during strong trending phases and do not necessarily signal an immediate reversal. Immediate support near 25200 mentioned in the earlier letter came to aid as market is showing some recovery from those zones. With a Buy on Dip market underway one should be looking to remain a Buyer.
Raja Venkatraman is co-founder, NeoTrader. His Sebi-registered research analyst registration no. is INH000016223.
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Raja Venkatraman is the co-founder of NeoTrader, where he heads the training division. He conducts both offline and live market workshops, seminars, and webinars. He has been working under the guidance of Dr C K Narayan, his mentor and founder of Growth Avenues, for more than 20 years. He is an active trader in multiple asset classes, and actively shares his views on YouTube, blogs at NeoTrader, and on reputed news channels and websites. His Sebi-registered research analyst registration no. is INH000016223.
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