In the last week, the benchmark indices witnessed a sharp recovery from lower levels.
Amol Athawale,
VP Technical Research,
Kotak Securities
Mumbai, November 28, 2025: In the last week, the benchmark indices witnessed a sharp recovery from lower levels. The Nifty ended 0.52 percent higher, while the Sensex was up by 474 points. Among sectors, Financial Services index outperformed, rallying over 2.25 percent, whereas the Défense index lost the most, shed 1.25 percent. During the week, the market found support near the 20-day SMA (Simple Moving Average) and bounced back sharply. Technically, it has formed a promising reversal pattern on daily and intraday charts, and it is also holding a higher bottom formation on daily charts, which is largely positive. We are of the view that the short-term market outlook is positive and uptrend formation is likely to continue in the near future.
For positional traders, 26,100/85300 and 26,000/85000 would act as key support zones. On the higher side, the uptrend is likely to continue till 26,350/86100. Further upside may also persist, which could lift the index to 26,500–26,600/86500-86800. On the flip side, below 26,000/85000, the uptrend would become vulnerable. Below this level, the market is likely to retest 25,850–25,800/84500-84300.
For Bank Nifty, trend-following traders 59,500 and 59,000 would act as important support zones, while 60,500–60,700 are immediate resistance levels.
