BSE 30 index and NSE 50 index moved around 1% higher this week.
Shrikant Chouhan,
Head Equity Research,
Kotak Securities
Mumbai, November 14, 2025: Global equity markets were mostly positive in this week, and the Indian equity markets also delivered decent weekly returns. BSE 30 index and NSE 50 index moved around 1% higher this week. The midcap and the smallcap index, though positive, underperformed the larger peer. On the sectoral front, most of the sectors ended the week with modest gains, with no sector witnessing any significant gain or loss. BSE IT and BSE Capital Goods indices outperformed, while BSE Realty, BSE FMCG and BSE Commodities underperformed. Global markets were supported by the end of the US government shutdown, strong earnings numbers in the US and the supportive outlook of the US Fed. In India, the October CPI inflation eased to 0.25% due to a continued deflation in food and some impact of GST rate cuts across sectors. In Indian markets, stock specific actions continued based on Q2FY26 results and management commentary.
The Q2FY26 earnings season showed subdued trends in mass-consumption, uptick in select discretionary segments, modest IT services demand and moderate loan growth for banks. The performance from the metals & mining and Oil Marketing companies were better than estimates. With the Q2FY25 result season coming to an end, the market moves back to macro data point, geo-political development and news related to the India-US tariff resolution.
Amol Athawale, VP Technical Research, Kotak Securities, adds:
In the last week, the benchmark indices bounced back sharply. The Nifty ended 1.64 percent higher, while the Sensex was up by 1345 points. Among sectors, Defence and IT indices outperformed, with Defence up 4 percent and IT up 3.5 percent. During the week, the market successfully cleared the 25,700/84000 resistance zone, which intensified the positive momentum.
Technically, on daily and weekly charts, it has formed a reversal pattern and is currently trading above the 20-day SMA (Simple Moving Average), which is largely positive. We are of the view that as long as the market is trading above the 20-day SMA or 25,700/84000, the uptrend is likely to continue.
On the higher side, 26,000/84900 and 26,100/85200 would be the immediate resistance zones for the bulls. A successful breakout above 26,100/85200 could push the market up to 26,300–26,500/85800-86400. On the flip side, below 25,700/84000, the uptrend would become vulnerable. Below this level, the market could retest the 25,500–25,350/83400-82900 range.
For Bank Nifty, the 20-day SMA support is placed at 58,000. Above this, it could move up to 58,800–59,500. On the other side, below 58,000, it could slip to 57,500–57,200.
