After a roller coaster activity, the Nifty ended 48 points higher, while the Sensex was up by 159 points
Shrikant Chouhan,
Head Equity Research,
Kotak Securities
Mumbai, 4 December 2025: Today, the benchmark indices witnessed a volatile trading session. After a roller coaster activity, the Nifty ended 48 points higher, while the Sensex was up by 159 points. Among sectors, the IT index gained the most, rallying 1.30 percent, whereas the Media index was the top loser, shedding over 1.55 percent. Technically, after an early morning bounce-back, the market witnessed profit booking at higher levels. However, it managed to close above the 26,000/85000 mark, which is largely positive.
We believe that a reversal formation on daily charts, indicating a pullback, is likely to continue in the near future. For day traders, now, 26,000/85000 and 25,900/84800 would act as key support zones. On the higher side, 26,100-26,125/85500-85650 would act as a crucial resistance area for the bulls. A successful breakout above 26,125/85650 could push the market up to 26,200-26,250/86000-86200. On the flip side, if the market falls below 25,900/84800, it could retest levels around 25,800-25,775/84500-84400.
Gaurav Garg, Research Analyst Lemonn Markets Desk, adds:
Equity markets were mixed on Thursday, with the Sensex ending about 400 points below its intraday high and the Nifty closing under the 26,000 level. The indices saw brief mid-session recovery supported by IT stocks such as TCS and Tech Mahindra, while stocks including InterGlobe Aviation, Dr. Reddy’s and Kotak Mahindra Bank moved lower, keeping broader market activity largely balanced. Market breadth was slightly negative, and volatility increased in line with the weekly F&O expiry.
Participants also monitored the upcoming RBI policy announcement. Other factors influencing the session included the rupee touching 90.43 against the dollar, FII outflows of over Rs3,200 crore, and firm crude oil prices. On the technical front, the Nifty is currently stabilizing near the 26,000 level. A move toward 26,111–26,200 may occur if the index sustains above this zone, while levels below 25,935 could indicate further downside.
