Nifty is poised for new record highs if it surpasses 26,250-26,300, with support at 25,500-25,800. Analysts suggest upside targets of 26,500-27,200, but a dip below 26,000 could trigger selling. Tata Consumer is a top pick, alongside Shriram Finance, with bullish technical indicators supporting potential gains.
Nifty is expected to test new record highs if it breaks above 26,250-26,300, analysts said, while key support lies between 25,500 and 25,800. Upside targets range from 26,500 to 27,200, though a slide below 26,000 could trigger selling. Tata Consumer emerged as a unanimous top pick across all three analysts
RAJESH PALVIYA
HEAD OF TECHNICAL AND DERIVATIVES, AXIS SECURITIES
Where is Nifty headed this week?
Nifty continues to trade at a crucial resistance zone near its all-time high. A decisive close above this level could lead to further upsides. A sustained move above 26,250 is likely to invite fresh buying, potentially driving the index towards the 26,500-26,700 range. Conversely, a break below 26,000 may trigger selling pressure, pulling the index down towards 25,850-25,500, with key support located at the 25,844 level (20-day SMA) and the 25,500 zone. Weekly RSI remains above its reference line, signalling an underlying positive tone.
Trading Strategies: For the November 25 F&O expiry, a Put Spread is ideal for a moderately bearish market outlook. Buy one lot of the 26,100-strike Put options at a premium of Rs 115-105 and simultaneously sell one lot of the 25,900-strike Put options at a premium of Rs 45-Rs 50. This strategy limits both risk and reward, creating a defined range for outcomes. The break-even point is at 26,030, with a maximum potential loss of Rs 5,325 and a maximum profit of Rs 9,675.
TOP STOCK BETS:
Shriram Finance: Buy | CMP: Rs 823, Stop Loss: Rs 800, Target: Rs 875
Has been consolidating at higher levels for the past few days and is trading above all its short-term moving averages. RSI is also trending upwards, indicating strength. Derivative data shows a long buildup over several sessions. The stock has a bullish trend across all time frames and can potentially extend its gains towards Rs 875-900 in the short term.
Tata Consumer: Buy | CMP: Rs 1,183, Stop Loss: Rs 1,150, Target: Rs 1,240
Broken out of a consolidation range that lasted four weeks, moving within an upsloping channel that indicates sustained buying activity. It is negotiating with its last four-month swing high, and any breakout above Rs 1,195 may attract further buying action, which could take the stock toward the Rs 1,240-1,260 range.
AJIT MISHRA
SVP – RESEARCH, RELIGARE BROKING
Where is Nifty headed this week?
The Nifty retains a constructive structure and appears poised for a potential new record high. Immediate support is placed near 25,800 (20-DEMA), followed by 25,550. A decisive breakout above 26,300 could open the path towards 26,500.
Trading Strategies: The IT index is exhibiting signs of a short-term reversal, while the Auto index appears poised to resume its uptrend. Traders can consider accumulating ITBEES (CMP: Rs 40.44) in the Rs 40-41 range, with a closing-basis stop-loss at Rs 37 and potential targets of Rs 44-47.
In the Auto sector, traders may look to accumulate AUTOBEES (CMP: Rs 282.18) in the Rs 278-285 range, with a closing-basis stoploss at Rs 270 and upside potential towards the Rs 300-320 zone.
TOP STOCK BETS:
Eicher Motors: Buy | CMP: Rs 7,134.5, Stop Loss: Rs 6,880, Target: Rs 7,650
Ended a two-month consolidation phase after forming a strong base near its short-term support zone (20-DEMA). With the auto index showing strength and Eicher establishing a favourable setup, we expect a steady upward move in the coming sessions, with a potential target of Rs 7,650.
Tata Consumer Products: Buy | CMP: Rs 1,183, Stop Loss: Rs 1,120, Target: Rs 1,300
Continues to outperform within the FMCG space and has formed a fresh buying pivot while holding firmly above 20-DEMA support zone. Setup indicates room for a steady rise, with the stock likely to inch towards its record high soon.
ROHAN SHAH
TECHNICAL ANALYST, ASIT C MEHTA INVESTMENT
Where is Nifty headed this week?
Momentum indicator RSI has formed a negative divergence against price, signaling signs of waning upward momentum. On the levels front, the index faces a key resistance zone at 26,500-26,800, while crucial support is placed around 25,500-25,200.
Trading Strategies: Traders can consider initiating long positions in the Nifty December Futures above 26,500, targeting an upside potential towards 26,800 and 27,200, while a protective stop-loss should be placed below 25,150.
TOP STOCK BETS:
Tata Consumer: Buy | CMP: Rs 1,183, Stop Loss: Rs 1,130, Target: Rs 1,280
Stock has broken out of a potential Cup-and-Handle price pattern. The breakout is accompanied by strong volumes and improving relative strength. A bullish price structure and volume activity indicate outperformance likely to continue.
Tech Mahindra: Buy | CMP: Rs 1,461, Stop Loss: Rs 1,380, Target: Rs 1,600
Showing early signs of reversal. stock has broken its falling resistance trendline with strong volumes and is holding above the 200-EMA. Despite prices making lower lows, RSI repeatedly held strong support near the 40 zone, showing bullish momentum divergence.
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