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Informist, Thursday, Nov. 6, 2025

 

By Akash Mandal

 

MUMBAI – Benchmark indices are likely to fall further in the near term and the Nifty 50 may shed 200-300 points more from the current levels, technical analysts said Thursday. However, the overall trend will continue to be positive till the Nifty 50 holds above the 25200-25300 levels, they added. 

 

Absence of fresh triggers and lacklustre earnings over the last few days have likely led investors to take out some profits in the past few sessions, Ajit Mishra, senior vice president of research at Religare Broking, said. "There is not much progress either in the US-China deal or a trade deal between India and the US," Mishra noted.

 

However, he does not see the current weakness in the market as a major correction as it is mostly been due to profit taking in select stocks and some news-specific selling, such as Grasim Industries on Thursday. "If we (Nifty 50) fail to hold above 25200, there might be fresh consolidation and trading might be dull," he added. 

 

Market sentiment is seen cautious in the near term, said Hardik Matalia, technical analyst at Choice Broking. If the Nifty 50 reverses from the current levels, it might break past the 26100 levels, which was the high notched up during the rally in October. However, if the 50-stock index fails to sustain above 25450-25350 points, there may be panic in the market and the index may fall to the 25050-25000 levels, Matalia said. "The weekly PCR (put call ratio) is around 0.63, which indicates a buying zone," he added.

 

On Thursday, the Nifty 50 fell to a three-week low, and eventually ended slightly off lows at 25509.70 points, down 87.95 points or 0.3%. The BSE Sensex closed at 83311.01 points, down 148.14 points or 0.2%. While the rise in shares of heavyweight Reliance Industries cushioned some of the fall, other heavyweights such as ICICI Bank, ITC, and Larsen & Toubro weighed on the indices.

 

Hindalco Industries, Trent, and Bajaj Auto are among the Nifty 50 majors slated to report their September quarter results on Friday. Hindalco's consolidated net profit is seen rising 2.6% on year, strongly supported by domestic aluminium sales and prices. However, the bottom line will be weighed down significantly by the lack of operating leverage in the operations of its US-based subsidiary Novelis Inc.

 

Trent's bottom line for the September quarter is expected to rise 4.3% on year, supported by higher sales due to opening of new stores and the onset of the festive season. Increased sales from the lower-priced Zudio brand products may lead to a fall in the company's margins. Bajaj Auto is expected to report a four-quarter high revenue growth and a six-quarter high profit growth due to strong sales, especially overseas.  End

 

Edited by Vandana Hingorani

 

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