On Thursday, November 20, 2025, the Indian stock market is expected to have a positive opening, as global positive sentiment has been bolstered by NVIDIA’s strong results, sending tech and AI stocks up.
The Gift Nifty was at 26,092, around 40 points higher than the previous close, which indicates a positive opening for the indices.
The domestic indices continued their positive momentum on Wednesday and closed with the Sensex at 85,186.47 up 513.45 points, and the Nifty 50 closed at 26,052.65 up 142.60 points.
The Sensex formed a bullish candle on the daily chart, indicating that the bullish trend is still alive. The support level is at 85,000 and 84,700, and while the index continues to maintain its position above the support, the momentum is expected to stay intact.
On the other hand, 85,500 is the immediate resistance level, which may trigger potential movement toward 85,800-86,000 if the index moves decisively above that level.
However, at the price point below 84,700, it is possible that the trend could lose its bullishness and move toward a phase of consolidation.
The Nifty 50 formed a bullish candle with a small lower wick, indicating strong demand at reduced prices. Analysts note that the index is near a significant breakout area of about 26,100.
The recent low of 25,856 is now considered a higher bottom. If the Nifty sustains above 26,150, it may advance toward 26,300-26,400 in the short term. The zones between 25,850 and 25,800 are likely to serve as strong support during any pullbacks.
Open interest data indicates a concentration of call writing at the 26,200 strike, which suggests that sellers may try to cap upside moves at higher levels.
Meanwhile, the maximum put open interest at the 26,000 strike suggests that buyers should have strong support at lower zones. Sustaining above 26,200 will be crucial to maintain positive momentum.
The Bank Nifty closed at 59,216.05 and has formed a bullish candle. Immediate support is around 58,580 and the immediate resistance is at 59,220, which is also a trendline barrier.
A strong move above the 59,220 level may take the index towards the 59,500-59,700 levels and potentially to 59,800.
The 58,500-58,200 zone is likely to be a strong support, as previous resistance is now turning into support.
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