28th November Market Report

28^th November Daily Market Report

Macro & Global:
Global risk mood is mildly constructive: US indices hover near highs with only tech showing slight fatigue, Europe is small red, and Asia is mixed but stable. US yields are roughly flat and VIX around mid‑teens keeps global volatility low. No major tier‑1 data hit today; focus is on lingering Fed speak and incoming PMIs, so macro is more of a background noise than a catalyst intraday.

India & flows:
India is in a shallow consolidation just off record highs; NIFTY and BANKNIFTY trade within tight intraday ranges while INDIA VIX stays near 11, implying high comfort and active option writing. Sector rotation favours Autos, Pharma, Metals, Media and select PSU banks, while Energy, Infra and some IT names underperform. FII flows remain net negative over 30/14/7 days but not aggressively so, and strong DII buying continues to underpin dips, signalling that domestic liquidity is still the primary driver of this bull phase.

COMEX & Energy

Symbol	Price	Change	% Chg
GOLD1!	125,785	+281	+0.22%
SILVER1!	163,776	+1,309	+0.81%
CRUDEOIL1!	5,297	+7	+0.13%
NATURAL	413.6	+0.5	+0.12%
XAUUSD	4,165.73	+6.93	+0.17%
SILVER	53.755	+0.428	+0.80%
BRENT	62.795	-0.070	-0.11%
XTIUSD	59.12	-0.08	-0.14%
NATGAS	4.475	+0.019	+0.43%

Two‑line takeaway: precious metals are firm with silver outperforming gold, signalling steady safe‑haven and industrial demand. Oil is mixed (futures slightly up, spot marginally down) while gas edges higher on weather/stock draw expectations.

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Global Futures, FX, Crypto

Futures	Symbol	Level	Change	% Chg
US500	6,822.0	+3.3	+0.05%
US30	47,478.0	+62.0	+0.13%
NAS100	25,295.2	-47.7	-0.19%
FCE1!	8,097.0	-7.5	-0.09%
FDAX1!	23,761	-51	-0.21%
FESX1!	5,652	-10	-0.18%
399106	2,453.81	+23.27	+0.96%
HSI	25,858.9	-87.0	-0.34%
J225	50,119.6	+68.9	+0.14%
XJO	8,614.1	-3.2	-0.04%
KOSPI	3,926.59	-60.32	-1.51%
IRUS	2,631.91	+10.54	+0.40%
MZNPI	29,166.24	+323.77	+1.12%

Forex	Pair	Level	Change	% Chg
EURUSD	1.15671	-0.00281	-0.24%
GBPUSD	1.32019	-0.00363	-0.27%
USDJPY	156.33	+0.057	+0.04%
USDINR	89.4720	+0.1470	+0.16%

Crypto	Symbol	Price	Change	% Chg
BTCUSD	91,557.65	+240.95	+0.26%
ETHUSD	3,057.4	+42.7	+1.42%
DOGUSD	0.1526	0.0000	0.00%
LTCUSD	85.73	-0.86	-0.98%
SOLANA	141.09	-0.86	-0.61%
XRPUSDT	2.2366	+0.0367	+1.67%

Two‑line takeaway: US indices are slightly positive but Nasdaq 100 lags, while Europe trades mildly red; Asia is mixed with KOSPI weak and Japan resilient. In FX the dollar firm’s vs EUR and GBP, and crypto breadth improves with Ethereum and XRP leading.

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India Indices, Banks & Bluechips (Intraday snapshot)

Index	Symbol	Level	Change	% Chg
Vol	INDIAVIX	11.3300	-0.4550	-3.86%
Index	NIFTY1!	26,394.5	-11.0	-0.04%
Index	SENSEX	85,716.68	-3.70	0.00%
Index	NIFTY	26,202.40	-13.15	-0.05%
Index	BANKNIFTY	59,741.75	+4.45	+0.01%
Index	NIFTY1! (next)	26,375.0	-15.90	-0.06%
Index	BANKNIFTY1!	60,000.00	-31.80	-0.05%
Index	FINNIFTY	28,040.00	-59.80	-0.21%
Index	MIDCPNIF	14,119.90	-39.90	-0.28%

Banks	Symbol	Price	Change	% Chg
HDFCB	1,008.65	-0.85	-0.08%
KOTAKB	2,127.00	+16.80	+0.80%
ICICIB	1,387.60	-4.60	-0.33%
SBIN	981.00	+8.15	+0.84%
AXISBA	1,277.40	-9.90	-0.77%

Bluechips	Symbol	Price	Change	% Chg
RELIANCE	1,568.30	+4.90	+0.31%
INFY	1,564.10	-2.30	-0.15%
TCS	3,143.70	+7.10	+0.23%
ADANIENT	2,291.10	+36.10	+1.60%
ULTRACEM	11,567.00	-50.00	-0.43%

Two‑line takeaway: India indices are essentially flat with INDIA VIX at 11–12, confirming a low‑vol consolidation just below highs. Within sectors, PSU banks (SBIN) and cyclicals like Adani Enterprises outperform while some large IT and cement names cool off.

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India Sector Indices (later snapshot)

Index	Level	Change	% Chg
CNXFMCG	55,508.40	+37.85	+0.07%
CNXPSU	8,521.85	+19.75	+0.23%
NIFTY_MID	14,039.10	-36.85	-0.26%
CNXFIN	27,897.25	-48.95	-0.18%
CNXIT	37,484.50	+38.20	+0.10%
CNXAUTO	27,744.30	+140.65	+0.51%
CNXENER	35,532.85	-223.30	-0.62%
CNXINFRA	9,653.90	-28.10	-0.29%
CNXMETAL	10,303.10	+29.35	+0.29%
CNXPHAR	12,953.10	+90.10	+0.70%
CNXREAL	903.15	-1.75	-0.19%
CNXMEDIA	1,473.05	+12.85	+0.88%

Two‑line takeaway: Autos, Pharma, Metals and Media are today’s sector gainers, while Energy and Infra soften, hinting at rotation from commodity/energy plays into domestic consumption and defensives. Midcaps and Finance see mild profit‑taking after strong out‑performance.

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FII/DII Updated Flows (till 27 Nov)

Key rows (₹ crore):

Period	FII Buy	FII Sell	FII Net	DII Net
Last 30 Days	3,56,646.1	3,72,398.2	-15,751.9	+89,247.7
Last 2 Weeks	1,84,519.6	1,89,539.8	-5,020.2	+40,044.8
Last 1 Week	1,12,181.2	1,13,810.8	-1,629.7	+21,775.8
27 Nov 2025	10,262.0	11,517.2	-1,255.2	+3,940.9

Two‑line takeaway: FIIs remain net sellers over all look‑back windows but the magnitude is modest, while DIIs are aggressively net buyers, effectively absorbing supply. Recent days show some FII selling returning after two small buy days, warranting a bit more caution.

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Dashboards – Market Breadth & Stock Themes

High‑level read:

• Top gainers include Welspun Living, RelInfra, ZEEL, Neuland Lab, IPCA Lab with 4–10% day gains.
• Top losers feature GAIL, TARIL, MCX, Syrma, Wockhardt, with around 3.5–4.5% declines.
• New 52‑week highs: Shriram Finance, L&T Finance, Adani Ports , Reliance , Hero MotoCorp; new lows: Praj, Deepak Nitrite, SKF India, TARIL.
• Relative out‑performance vs Nifty500 over 1 week from names like AbCapital, Escorts, Ashok Leyland, Campus; under‑performance from Chenn Petro, JP Power, Whirlpool , Olectra.
• Volume shockers: Welspun Living, GAIL , ZEEL, Varun Beverages , IEX .

Two‑line takeaway: Market breadth is constructive with strong moves and high volume in select midcaps and cyclicals, especially capital goods, NBFCs and select media/infra names. However, losers in energy/utilities (GAIL, IEX) and some industrials show that sector‑wise divergence is high – a stock‑picker’s market.

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NIFTY Options – Dec 30 (around 25,900–26,450)

Spot ≈ 26,197.

Strike	Call Vol	Put Vol	Comment
25,900	55,275	8,92,575	Strong put support below spot.
25,950	6,300	1,03,275	Light.
26,000	11,03,850	31,64,400	Massive both‑side OI – key node.
26,050	17,250	45,000	Smaller.
26,100	4,50,075	13,30,050	Busy, secondary pivot.
26,150	55,425	1,55,100	Moderate.
26,200	17,92,125	22,42,800	Huge ATM magnet at current spot.
26,250	2,92,800	4,14,300	Decent.
26,300	16,37,325	15,27,825	Big node just above.
26,350	1,91,850	1,99,575	Moderate.
26,400	11,59,275	13,23,750	Call wall + puts – upper band.
26,450	1,30,125	67,575	Light.

Two‑line takeaway: NIFTY is boxed tightly between 26,000 and 26,400 with enormous OI at 26,000, 26,200 and 26,300—clear evidence of short‑volatility positions by writers. 25,900 is strong support; 26,400–26,500 remains the resistance to watch for any breakout.

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BANKNIFTY Options – Dec 30 (around 59,200–60,300)

Spot ≈ 59,749.

Strike	Call Vol	Put Vol	Comment
59,200	1,00,450	3,91,580	Solid support.
59,300	48,930	3,55,215	Good support.
59,400	1,01,115	5,11,490	Heavy.
59,500	10,49,866	23,01,285	Biggest OI, key pivot.
59,600	8,10,425	14,77,280	Strong.
59,700	21,12,985	25,44,780	Massive magnet around spot.
59,800	19,58,425	24,25,990	Still huge.
59,900	10,13,705	10,65,855	Large.
60,000	32,02,780	24,20,600	Giant call wall + puts – main cap.
60,100	7,29,540	4,69,875	Lighter.
60,200	5,43,830	2,21,060	Tapers.
60,300	4,26,195	90,090	Far OTM.

Two‑line takeaway: BANKNIFTY has a dense OI cluster from 59,400 to 60,000, with 59,500 and 59,700 dominating – market expects sideways action in this band. 59,200–59,300 is defended by puts; 60,000 is the key overhead supply zone.

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Derivatives structure:
NIFTY and BANKNIFTY options both exhibit heavy OI at strikes bracketing spot – 26,000–26,400 and 59,500–60,000 respectively – with IV around 8–12%, characteristic of a short‑volatility, range‑bound regime. Put writing concentrated just below spot in both indices, along with call walls slightly above, suggests that market makers are comfortable selling volatility and defending supports unless a big external shock emerges. Midcaps and sector indices show more rotation but not breakdown, and stock‑level data indicate strong moves in specific midcap names with high volumes and delivery, favouring selective trades.

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Trading Takeaway – How to Use This with Caution

• Bias: Market is mildly bullish but clearly in a tight consolidation with low volatility, so the edge lies in theta‑positive, defined‑risk option strategies, not big leveraged directional bets.
• Indices:
  • NIFTY – trade the 26,000–26,400 range: short 26,000–26,400 strangles/condors or 26,200‑centred butterflies, and consider 26,000 PE plus futures hedge only if price starts closing below 26,100 with rising INDIA VIX.
  • BANKNIFTY – lean bullish while above 59,300: bull put spreads (sell 59,500 PE, buy 58,500 PE) or 59,700/60,300 call spreads; avoid naked shorts near 59,200 as OI shows strong support.
• Stocks & sectors: Focus long ideas in sectors showing strength (Autos, Pharma, Media, select PSU banks and private banks) and where high volume + high gain or rising delivery; avoid or hedge exposures in Energy/Infra names and high‑beta losers like GAIL or under‑performing industrials.

Risk control: Position sizes should reflect that FIIs are still net sellers and that low volatility can reverse abruptly—watch for a spike in INDIA VIX above 14 or a break below NIFTY 26,000 / BANKNIFTY 59,300 as signals to unwind short‑vol trades, tighten stops, and shift to protective puts or bear spreads.

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