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The Indian stock market is expected to open positively on Thursday, November 6, 2025, after a holiday for Guru Nanak Jayanti. The early signals from the Gift Nifty, which was trading around 25,735, up 27 points from the previous Nifty futures' close, suggest a positive opening for the indices.
On Tuesday, Indian markets ended lower amid profit-taking and weak global sentiment that dragged the indices down. Sensex fell 519.34 points or 0.62% to close at 83,459.15, while Nifty 50 lost 165.70 points or 0.64%, ending at 25,597.65.
Analysts expect a negative-to-neutral bias for Sensex as the technical indicators signal the dominance of the consolidation trend.
If Sensex continues to stay below 83,750, the sentiment will remain weak. A decline beneath the 83,300 may pull the index down to the 83,000-82,800, whereas a close over 83,750 could result in a bounce back to the 84,100-84,400.
Intraday charts show a lower top formation, indicating short-term weakness. Experts advise traders to follow a level-based trading strategy due to volatility.
Nifty 50 has formed a long bearish candle, signaling consolidation with a mild downward bias. Nifty remains in a corrective phase, but the broader bullish pattern remains intact.
The index could slide toward 25,500-25,400 in the near term before rebounding. Resistance is seen around 25,800.
Amruta Shinde of Choice Equity Broking noted strong call writing at 25,700 and put positions near 25,600, suggesting firm resistance around the higher band.
Bank Nifty closed 274 points lower on Tuesday at 57,827.05, forming a small bearish candle within the previous session’s range.
Support lies at 57,630. A sustained move above this could trigger a short-term rebound, but a break below it may invite more selling.
Om Mehra from SAMCO Securities added that the broader trend remains positive as long as the index holds above 57,400, with resistance seen near 58,150-58,300.
Technical analyst Riyank Arora of Mehta Equities Ltd. advised purchasing two stocks on Thursday, November 6.
Vascon Engineers (CMP-Rs. 68.54): Buy with targets of Rs. 75/Rs. 80 and stop-loss at Rs. 65. The stock is showing a higher-low pattern with improving volumes.
Laurus Labs (CMP-Rs. 983): Buy with targets of Rs. 1,040/Rs. 1,080 and stop-loss at Rs. 950. The stock is gaining momentum after consolidation with a bullish RSI breakout.
Traders can expect a range-bound session today. The ongoing Q2 earnings season, comprising the results from LIC, Zydus Lifesciences, Cholamandalam Finance, and Bajaj Housing Finance, is likely to lead the market to a short-term direction.
The market analysts advise a buy-on-dips strategy for medium-term investors, at the same time keeping a cautious approach during this period of global uncertainty.
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