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2h ago

Indian Stocks Edge Higher as Trade Resumes, With Consolidation and Key Levels in Focus

Early gains followed a holiday shutdown, with analysts flagging a short‑term corrective phase defined by 25,500–25,300 support plus 25,700–25,800 resistance.

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Overview

  • At the open, the Sensex rose about 300 points to 83,759 and the Nifty traded near 25,651, signaling a cautious positive bias.
  • Exchanges were shut on November 5 for Guru Nanak Jayanti, after the prior session closed lower with the Sensex down 519 points to 83,459 and the Nifty at 25,597.65.
  • Technicians highlight consolidation, noting a sustained move above 25,700 could revive bullish momentum, while a slip below 25,500 risks further weakness.
  • Bank Nifty is projected to extend its range trade near 57,300–58,500 as the index forms a base for the next leg of its move.
  • Flows and earnings remain key drivers, with FPIs selling Rs 1,067 crore and DIIs buying Rs 1,202 crore, and stock-specific focus on results from Sun Pharma (revenue up 8.6% to Rs 14,405 crore), IndiGo (Rs 2,582 crore loss), and Paytm (Rs 21 crore PAT after a one-time charge).