Prashanth Tapse , Senior VP (Research), Mehta Equities
Nifty snapped its three-day losing streak with modest gains, mirroring a similar rebound in Bank Nifty, as global sentiment strengthened after the US Fed’s rate cut revived risk appetite and boosted prospects for foreign inflows, a firmer rupee and improved liquidity.
The lift was tempered by three key drags — a weakening rupee near 90.41/USD, relentless FII outflows of Rs 1,50,960 crore so far in FY26, and Wall Street’s slide amid AI-sector worries.
Vodafone Idea stayed in focus after scaling a 52-week high on hopes of debt-relief measures and steady 4G/5G expansion, while Shakti Pumps and Seamec gained on project-related triggers.
With India’s November inflation print due today and expected to remain within the RBI’s comfort band, the market is watching for cues on future rate cuts.
Technically, Nifty’s structure has turned positive with buy-on-dips preferred, support at 25,703 and potential to reclaim 26,000–26,326.
Trading ideas: Nifty 25,899 — buy with stops at 25,591 for 26,000/26,203 and 26,325–26,500; Bank Nifty 59,210 — buy with stops at 57,901 for 59,800/60,200 and 60,550–60,900.
Bullish setups include Cholamandalam Finance, Pondy Oxides & Chemicals and Dredging Corporation on dips. Stock of the day: Grasim — buy at Rs 2,811 with stops at Rs 2,677 for Rs 2,901/2,990 and an aggressive target of Rs 3,151.