The Indian stock market is expected to open in positive territory on Tuesday, November 11, taking cues from positive global sentiment and improved investor confidence. The Gift Nifty was trading around 25,722, with a premium of 28 points over the Nifty futures’ previous close, pointing to a positive start.

On Monday, Indian equities ended their three-day losing streak as investors turned optimistic. The Sensex gained 319.07 points (0.38%) to close at 83,535.35, while the Nifty 50 advanced 82.05 points (0.32%) to settle at 25,574.35. 

The Nifty Midcap index gained 0.5% and the Smallcap index was up 0.35%, which is a sign of general market recovery.

Nifty 50 Outlook

On the daily chart, the index formed a green candle with an upper shadow, indicating that traders are taking profits at the higher levels, but buying interest continues near support zones.

Nifty 50 has shown strength after rebounding from the 25,300-25,400 support zone. The overall trend remains positive, and a dip to 25,400 could be used as a buying opportunity. A sustained move above 25,700 may push the index toward 26,000.

A breakout above 25,650 may pave the way toward 25,800, with immediate support at 25,300.

Sensex Outlook

The Sensex closed above 83,500 on Monday, is also expected to open higher and sustain its upward momentum. Analysts say the index has formed a bullish pattern, reflecting improving sentiment.

Support is seen near 83,000-82,750, while resistance is at 84,000-84,300. A breakout above the 84,000 level could drive the index toward new record highs, while any dips toward 83,000 may attract fresh buying. 

Bank Nifty Outlook

The Bank Nifty ended Monday’s session 60.75 points (0.10%) higher at 57,937.55, forming a small green candle on the daily chart. Analysts expect continued strength as long as the index holds above 57,150.

Traders should adopt a buy-on-dips approach with support near 57,150-57,300 and resistance around 58,300-58,580.

Sustaining above 58,100 could see the index moving toward the 58,500-58,800 level, while a move below 57,250 may see the market decline toward 56,800-56,500.

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Market Sentiment and Sectoral Trends

Market sentiment strengthened when foreign institutional investors (FIIs) became net buyers of equities after six consecutive sessions of selling. Almost all sectors ended in the green with IT, pharma, metals, and energy leading the way, whilst realty and FMCGs experienced some profit booking. 

Analysts are looking forward to the current consolidation period presenting a chance to buy, particularly in PSU banks and larger-cap stocks, as the overall view on Indian equities remains very positive.