Canada and India agree to restart trade talks- Daily Market Update 24th Nov 2025

Tracking negative cues from the global peers, benchmark Nifty index opened with a gap on the negative side, and settled at 26068 levels after a cut of more than 120 points from its previous closing values.

Broader markets underperformed the benchmark as Mid and Small-cap indices were down over 1 each againts the frontline index.

All of the sectoral indices barring, Nifty FMCG, tracked at NSE, ended in red. Amongst them, Nifty Metal and Realty index were the worst hit, down 2.34% and 1.86% respectively followed by Nifty PSU Bank and Financial Services index that were down in range 1% to 1.43%.

Despite profit taking on Friday, chart structure for Nifty is strong and well placed. We are hopeful of a new all time highs in near term; however, if Nifty breach and sustain below 26000 spot levels then we might see a fresh round of consolidation in 25750-26100 spot zone.

Derivatives Overview & Outlook

Last Friday, Nifty and Finnifty futures added around 4% of open interest each as short buildup whereas no significant activity was seen in Banknifty and Midcapnifty futures on open interest front.

All of the sectoral indices settled lower. Amongst them, Auto, Chemical, Pharma and Telecom stocks witnessed maximum addition of short positions along with some long unwinding among Cement, Finance and Oil & Gas stocks.

On the option front, call writing along with put unwinding was seen at multiple strikes. Maximum positions are at 27000 CE followed by 26500 CE. On the put side the maximum positions are at 26000 PE.

Institutional Trading Activity

Last week, FIIs bought stocks worth Rs 5198 Cr in the cash segment, bought index futures worth Rs 10 Cr and sold stocks futures worth Rs 2077 Cr. DIIs were too net buyers in the cash segment to the tune of Rs 12969 Cr during the week.

Nifty Futures, Banknifty Futures and Finnifty Futures Key Levels

Nifty – Resistances 26180-26250; Supports 26000-25900

Banknifty – Resistances 59200-59400; Supports 5860-58400

Finnifty – Resistances 27700-27800; Supports 27500-27400

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