Indian Markets Weekly View (01

The market finished November like a runner slowing just before the tape. Indices are still sitting near record highs, but Friday’s session ended flat as traders booked profits and waited for the GDP data and the RBI policy cues. So please read for December 1st Indian Markets Weekly View.

On 28 November 2025:

Nifty 50 (NSE) closed around 26,202.95, down about 0.05%.
Sensex (BSE) ended near 85,706.67, almost unchanged for the day.
Bank Nifty finished close to 59,753, slightly in the green after a choppy week.

Despite the flat close, Nifty logged a weekly gain of around 0.5%, and November became the third straight positive month for the headline indices.

📊 KEY LEVELS – NIFTY 50, BANK NIFTY, SENSEX

(Zones are for reference, not recommendations.)

🟦 NIFTY 50

Spot around 26,200.

Near support: 25,850 – 25,900
Deeper support: 25,550 – 25,600
Immediate resistance: 26,300 – 26,350 (recent intraday high region).
Higher resistance: 26,450 – 26,500

Nifty has been in a tight range between roughly 25,840 and 26,310 over the last week, which tells you the trend is still up but momentum is cooling.

🏦 BANK NIFTY

Spot closed around 59,753 on 28 Nov.

First support: 59,200 – 59,300
Stronger support: 58,800 – 59,000
Resistance: 60,200 – 60,500
Breakout zone: Above 60,800 with volumes

Bank Nifty has quietly climbed back above 59,500, but the big trending move is still missing. Analysts are watching how it behaves into the RBI policy – financials were one of the sectors supporting the index last week.

📈 SENSEX (BSE)

Sensex closed near 85,706, marginally lower on Friday but still very close to its lifetime high.

Support: 85,000 – 85,200
Next support: 84,300 – 84,500
Resistance: 86,200 – 86,500

The broader picture remains constructive; the consolidation only looks like a pause after a strong run-up.

⚙️ DERIVATIVES, VIX, OPEN INTEREST & PCR

📉 INDIA VIX – VOLATILITY INDEX

India VIX is hovering near 11.6 as of 29 Nov 2025, indicating low volatility and a fairly calm sentiment.

A VIX around 11–12 tells you that the market is complacent but not yet scared. Big intraday swings are still possible, but the fear factor is low.

🔁 PUT–CALL RATIO (PCR)

Based on options open interest data, the Nifty PCR around the end of the week is near 0.55–0.60 (approx. 0.57 on 28 Nov according to derivatives OI analytics).

A PCR under 1, closer to 0.6, usually reflects more calls than puts, i.e., a mildly bullish or over-optimistic setup. It can also act as a contrarian warning if the ratio stays low while indices are near highs.

For traders, this combination – low VIX + relatively low PCR – often means:

Trend is still up,
But risk-reward for aggressive fresh longs is not very attractive,
Sharp but short-lived dips can appear if any global risk-off headline hits.

💸 FII–DII FLOWS – WHO’S BUYING, WHO’S SELLING?

On 28 November 2025:

FII (Foreign Investors): Net selling ~₹3,796 crore in cash market.
DII (Domestic Institutions): Net buying ~₹4,148 crore – they absorbed almost all of the FII selling.

For the month of November, FIIs remain net sellers overall, while DIIs are strongly net buyers, supporting the market near highs.

Takeaway: Domestic money is still defending dips. As long as this continues, deeper corrections may attract buyers.

🚀 LAST WEEK – STRONG STOCKS & SECTORS

The week was not broad-based. The rally was selective, with a few large caps doing the heavy lifting.

⭐ Two stocks that stood out

Mahindra & Mahindra (Auto)
- Rose around 1.8% intraday on Friday as global brokerage commentary stayed positive on its medium-term story, helping the auto index.
Eureka Forbes & Paytm
- Both names figured among notable gainers in Friday’s trade recap, helped by stock-specific triggers and improved sentiment in select mid/consumer names.

📊 Sectors that showed good performance

Auto – supported by expectations of domestic demand and positive brokerage views; contributed to keeping indices steady near record highs.
Pharma & PSU Banks – these segments were highlighted as top gainers into the week’s close according to market wrap reports.

On the other hand, oil & gas and some parts of realty and IT saw profit booking.

🧾 MAJOR EVENTS & RESULTS IMPACT

The market is now focused on India’s Q2 FY26 GDP data and the upcoming RBI Monetary Policy Committee meeting.
Reports suggest selective strength in domestic-facing sectors (materials, financials, consumer, hospitals, power, defence) as global brokers remain constructive on India into 2026.

Rather than one single big-result shock, the week felt like a macro-driven pause, with traders watching data and central-bank commentary more closely than individual earnings.

🧱 IPO CORNER – PRIMARY MARKET BUZZ

The IPO calendar stays active as we enter December:

Purple Wave Infocom (SME) –
Book-building in the ₹120–126 band, open from 28 Nov – 02 Dec 2025, with listing scheduled for 05 Dec 2025.
Exato Technologies (SME) –
Price band ₹133–140, same issue window 28 Nov – 02 Dec, listing also expected on 05 Dec 2025.
Logiciel Solutions (SME) –
Issue in the ₹183–193 range, again 28 Nov – 02 Dec, listing on 05 Dec 2025.

Broader IPO trackers show over 30 upcoming IPOs in the pipeline across mainboard and SME for the next few months, keeping sentiment in the primary market lively.

You can briefly mention any 1–2 IPOs you want to focus on in detail (business model, revenues, risk, valuation) as a separate Kartalks deep-dive.

🪙 COMMODITY CHECK – GOLD, SILVER, CRUDE

🥇 Gold (MCX / Domestic)

24K gold in India is trading around ₹1,21,000–1,27,500 per 10g depending on city and benchmark used, with many quotes near ₹1,21,370 per 10g for 24K as of 29 Nov 2025.

Gold has had a strong November, helped by expectations of global rate cuts and a softer dollar.

🥈 Silver

Silver is hovering roughly in the ₹1,72,000–1,83,000 per kg band in major cities as of 29 Nov.

Bullion overall is in an uptrend on a multi-month view, but very sensitive to US data and Fed commentary.

🛢️ Crude – Brent

Brent crude futures are trading near $66 per barrel as of 29 Nov 2025, after slipping on expectations of a Ukraine ceasefire and extra Russian supply.

Lower oil prices stay a positive macro tailwind for India – they help inflation, the fiscal situation, and corporate margins in energy-intensive sectors.

💱 CURRENCY – USD / INR

The USD/INR rate is near ₹89.35–89.45 per dollar as of 29 Nov 2025.

The rupee is weak compared to earlier this year but broadly stable over the last few weeks, trading in a narrow band near its highs for 2025.

This:

Helps exporters (IT, pharma, speciality chemicals)
Hurts import-heavy sectors (oil marketing, some consumer durables)

📌 WEEKLY RANGE VIEW – 01 TO 05 DEC 2025

This is a scenario-based view, not a trade call.

🔵 Base Case (Sideways with mild positive bias)

Nifty 50: likely to oscillate between 25,900 and 26,400.
Bank Nifty: may trade in the 59,000 – 60,500 bracket.
Sensex: range watch near 85,000 – 86,500.

A lot depends on:

GDP numbers reaction
Pre-RBI commentary
Ongoing FII selling vs DII support

🟢 Bullish Case (Breakout continuation)

If global cues stay supportive and DIIs keep buying:

Nifty can attempt 26,500+,
Bank Nifty 60,800+,
Some short covering can appear in under-owned large caps.

📊 GDP & Macro Snapshot

Q2 FY26 real GDP grew 8.2% YoY, strongest in six quarters.

Economy wide growth in H1 at 8.0%.

Manufacturing, construction and services powered the advance — a sign of stable demand and improving activity.

Nominal GDP up ~8.7%, while inflation remains muted.

Macro stability gives markets a solid background; supports themes like consumption, infra, financials, and export-oriented sectors.

🎯 SHORT-TERM TRADING VIEW VS LONG-TERM INVESTING VIEW

📌 Short-Term (Traders)

Go lighter on position sizes with indices near all-time highs and VIX at low levels.
Watch Bank Nifty and financials around RBI policy expectations.
Avoid chasing gaps; better to buy defined dips or sell near resistances with tight risk.

📌 Long-Term (Investors)

Global houses continue to see upside potential for Nifty over the next 1–2 years, with targets toward 30,000 by end-2026 under stable policy and growth assumptions.

Themes that keep coming up in institutional views:

Domestic demand plays – financials, autos, consumer, power, infra, defence, hospitals
Caution on some export-heavy IT/pharma pockets purely on valuations, not on long-term India story.

For long-term investors, staggered SIP-style allocation into strong sectors and quality names usually works better than trying to time every 200-point move on Nifty.

⚖️ DISCLAIMER:

This weekly report is meant only for education and general market awareness. It is not investment advice, stock recommendation, or a solicitation to buy or sell any security. Markets are subject to risk and volatility. Please consult a SEBI-registered financial adviser before making any investment or trading decision. Data and levels mentioned are based on publicly available sources as of 28–29 November 2025, and may change without notice. Kartalks and the author will not be responsible for any financial loss or decision taken based on this content.

INDIAN MARKETS WEEKLY VIEW-DEC 01-05, 2025