Indian Markets Rally on Global Optimism
Indian equity benchmarks, the Nifty 50 and the Sensex, closed firmly in the green on Monday, mirroring a positive trend across Asian markets. The surge was primarily fueled by growing investor optimism that a resolution to the prolonged U.S. government shutdown is near. Additionally, strong post-earnings performances from specific companies provided further support to the domestic market.
Key Figures and Market Movement
As of 14:12 IST, the Nifty 50 index increased by 0.48%, settling at 25,614.20. Similarly, the BSE Sensex climbed 0.49% to reach 83,640.28. This upward movement comes after a period of decline, where the Nifty 50 had extended its losing streak for three consecutive sessions just the previous Friday, closing at 25,492.
Market experts suggested that the conclusion of the 40-day shutdown could trigger a short-term rally. The rising hope for a resolution has significantly enhanced overall market sentiment. Furthermore, positive quarterly earnings reports have led analysts to revise their corporate profit forecasts upwards for the coming quarters, which has, in turn, increased the overall risk appetite among investors.
Technical Analysis and Stock Picks
Vinay Rajani, Senior Technical and Derivative Analyst at HDFC Securities, provided insights into the market's technical posture. He noted that on Friday, the Nifty 50 found crucial support at its 50-day exponential moving average (DEMA) near the 25,300 level, leading to a healthy rebound. The immediate resistance for the index is placed at the 20 DEMA of 25,590, with the next key hurdle around 25,800.
Analysts also recommended specific stocks to buy based on technical patterns:
- HCL Tech (₹1,540): A bullish hammer candlestick pattern was formed on 7th November 2025. The stock's primary trend is bullish, and the IT index has broken out from a consolidation pattern. Target: ₹1,640 | Stop-loss: ₹1,470.
- Tata Communication (₹1,856): The stock has reached a change of polarity support level, indicating a potential resumption of its primary uptrend. It is trading above all key moving averages. Target: ₹1,990 | Stop-loss: ₹1,760.
- Steel Authority of India Ltd (SAIL) (₹141.80): The share price has broken out from a bullish inverted head and shoulder pattern on the weekly charts, supported by healthy volumes. Target: ₹150 | Stop-loss: ₹135.
Disclaimer: The views and recommendations above are from individual analysts and not of Mint. Investors are advised to consult certified experts before making any investment decisions.
