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Informist, Thursday, Nov. 27, 2025

By Simran Rede

MUMBAI – The domestic headline indices rose to a record high Thursday before investors booked their profits. Traders have added long positions in the put options and sold call contracts, indicating the consolidation of the index. Analysts expect the market to rise following a dip due to profit booking. 

Technical analysts suggest a 'buy-on-dip' strategy going ahead as the bias towards the market remains positive. "...we will wait for some dip to buy the Nifty 50 around 26100–26050 points. Any dip should be taken as a fresh buying opportunity," Vipin Kumaar, derivatives and technical analyst at Globe Capital Market, said.

The Nifty 50 is facing resistance at higher levels as rich valuations, geopolitical concerns, and uncertainty on the trade deal with the US have posed major headwinds for the market so far. Additionally, foreign institutional investors continue their selling spree but at a slower rate.

However, expectations of earnings upgrades going ahead and support from the government through the reduction in goods and services tax and changes in income tax slabs, giving higher disposable incomes to consumers, are expected to help the rise in the market. Moreover, domestic institutions and retail investors have been supporting Indian equities.  

"Investors should guard against over-enthusiasm or 'FOMO buying', as the rally continues to be narrow," Prashanth Tapse, senior vice-president research analyst at Mehta Equities, said in a note. "A large part of the mid-cap and small-cap universe including several sector leaders remains in a corrective or fragile zone despite headline indices hitting all-time highs."

On Thursday, the Nifty 50 closed just 10.25 points higher at 26215.55 points after notching a record high of 26310.45 points in early trade. Following this, analysts also expect the index to test fresh highs in the coming sessions after taking a breather in the near future. The Nifty 50 is expected to face immediate resistance at 26300–26400 points and find support at 26100-26000 points.

In the options chain of Nifty 50, premiums of out-of-the-money call strikes 26300-26600 expiring on Tuesday fell over 26-49% and those of put contracts 26200-25900 declined 30-54%. The maximum concentration of open interest of open interest was at 26500-point calls and 26000 put option. The maximum addition of open interest was at call options of 26600 and put options of 26250. This week the put-call ratio in the Nifty 50's derivatives chain was 1.15, Kumaar of Globe Capital Market said.

In the futures series of Nifty 50, the December contract rose just 0.1% to 26393.30 points, but the open interest fell 1.3% to 13.81 million. On the other hand, the January contract also ended 0.1% higher and open interest rose over 2% to over 888,800. Similarly, the February contract ended 0.1% higher with the open interest rising 107% to 118,430.

--Nifty 50 December closed at 26393.30, up 12.10 points; 177.75-point premium to the spot index
--Nifty 50 January closed at 26545.00, up 17.70 points; 329.45-point premium to the spot index

--Nifty 50 February closed at 26702.00, up 25.10 points; 486.45-point premium to the spot index

ICICI Bank, HDFC Bank, State Bank of India, Kotak Mahindra Bank, Bajaj Finance, Ashok Leyland, Reliance Industries, Bharti Airtel, Infosys, Adani Enterprises, Multi Commodity Exchange of India, Glenmark Pharmaceuticals, Axis Bank, BSE, Eicher Motors, Tata Consultancy Services, Canara Bank, and Kaynes Technology India were the most actively traded underlying stocks Thursday.  End

Edited by Deepshikha Bhardwaj

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