Weekly Update- 15th November 2026

NIFTY50

NIFTY50 at 25,144 gained 0.5% in the holiday-shortened week and consolidated above the 25,000 mark after the sharp 8.6% rally of the previous week. The index remained sideways during the Muhurat trading session and dipped to a low of 24,839 on Monday, but it found support near the 24,900–25,000 zone, which was the earlier resistance, and bounced back with a gap-up opening on Wednesday to touch a weekly high of 25,424. The index then witnessed profit booking in the last session of the week, closing lower and snapping its three-session winning streak. The weekly candle is a small bullish candle with an upper shadow, which shows a healthy consolidation after a big up-move rather than a reversal. The index continues to trade well above its weekly 200 EMA and its 20-day EMA, and the structure of higher highs and higher lows remains intact. Immediate support is at 25,000, followed by 24,900 and 24,700. Resistance is at 25,400–25,500, followed by 25,800 and the January high of 26,000–26,400. A sustained close above 25,500 would confirm the next leg of the rally toward 26,000, whereas a close below 24,900 would indicate deeper profit booking toward 24,700–24,300. Overall, the view remains positive, with a buy-on-dips approach as long as the index sustains above the 24,900–25,000 support zone, and 25,400–25,500 as the important hurdle to cross.

 

 

 

BANKNIFTY

BANK NIFTY at 61,034 gained 3.3% for the week and outperformed NIFTY50, led by PSU banks and private banks. After a sideways Muhurat session near 58,800–59,200, the index witnessed a strong breakout on Wednesday with a gap-up opening above 60,000, crossing the psychological 60,000 mark and touching a weekly high of 61,546 on Thursday, just below the February high of 61,765. On Friday, the index witnessed mild profit booking and remained largely sideways in the second half of the session, closing at 61,034. The weekly chart shows a strong bullish candle with a higher high and higher low, and the former resistance zone of 60,000 has now turned into a strong support. Immediate support is at 60,700, followed by 60,000 and 59,500. Resistance is at 61,500, followed by 61,800, the February high zone, and then 62,500. The view remains positive with a buy-on-dips approach as long as the index sustains above 60,000 on a closing basis, and a decisive close above 61,800 would strengthen the momentum toward 62,500. A close below 60,000 would indicate a deeper correction toward 59,500. Overall, BANK NIFTY remains in a strong uptrend, with 60,000–60,700 as the key support zone and 61,800 as the important level to cross.

 

 

TOP GAINING SECTOR

NIFTY PSU BANK was top gainer sector for the week, up about 7.5%

Major gainers were:-

PUNJAB NATIONAL BANK:- up by 12.85%

BANK OF INDIA:- up by 11.21%

BANK OF BARODA:- up by 9.40%

UNION BANK OF INDIA:- up by 8.56%

PUNJAB & SIND BANK:- up by 7.87%

 

 

 

TOP LOSING SECTOR

NIFTY IT was top losing sector for the week, down about 3.2%

Major losers were:-

HCL TECHNOLOGIES:- down by 4.31%

TECH MAHINDRA:- down by 3.66%

TCS:- down by 3.64%

INFOSYS:- down by 3.38%

OFSS:- down by 2.97%

 

 

IMPORTANT NEWS

• The NIFTY50 rose 0.5% to 25,144.30 and BANK NIFTY gained 3.3% to 61,034. The week began with a special Muhurat trading session on Sunday, November 8, in which the Nifty ended marginally below 25,000, and the index later rose to 25,424 before profit booking on Friday. PSU Banks (+7.5%), Media (+5.2%) and Realty (+2.7%) led the gains, while IT (-3.2%) was the only major sector with a sizeable fall.
  
• The US imposed steep duties on solar imports from India, with an anti-dumping cash deposit rate of 107.17% on Indian solar cells and countervailing duties of 126.09% on Adani Enterprises' Mundra Solar units, putting Waaree, Premier Energies and Vikram Solar in focus. Waaree also acknowledged to US authorities that it had incorrectly reported certain solar imports from Vietnam and Malaysia as originating in India.
  
• India's CPI inflation rose to 6.09% in October from 5.54% in September, above the estimate of 5.93%. India recorded its highest-ever monthly merchandise exports of $49.47 billion in October, while imports were $89.35 billion and the trade deficit widened to $39.88 billion. Forex reserves rose to $719.55 billion from $717.06 billion.
  
• Brent crude fell below $90 per barrel for the first time since August, as reports said Iran had dropped its demand to control the Strait of Hormuz and collect transit fees, and had agreed to US demands to reduce its highly enriched uranium stockpile. The IEA said the global oil market has shifted into a surplus, supported by higher Gulf exports.
  
• Traders fully priced in a 25 bps US Fed rate cut in December, with Fed's Waller backing a cut and remaining open to a larger 50 bps move. On the corporate front, Bajaj Finance opened its QIP with a floor price of ₹992.25, IIFL Finance approved a ₹6,414 crore fundraise with a Blackstone affiliate acquiring a 15.57% stake, Zee Entertainment approved a ₹600 crore buyback at ₹91 per share, and HUL raised prices to offset rising costs.