Nifty is poised to extend its bullish momentum into the coming week, with market analysts identifying immediate resistance in the 25,350–25,800 range and projecting Bank Nifty could advance towards 60,200. The outlook, shared on Sunday, 8 November 2026, reflects a broadly positive technical reading for Indian equities, even as analysts flag the possibility of intermittent profit booking after a sharp recent rally.

Rally Context and Muhurat Trading

Indian benchmark indices concluded a six-day winning streak through 5 November, building considerable upward momentum. Market focus then shifted to the special Muhurat Trading session held on Sunday to mark the opening of Samvat 2083 — the Hindu financial new year. The one-hour afternoon session, held as part of Diwali celebrations, is traditionally regarded as auspicious for initiating fresh investments and tends to draw symbolic participation from retail and institutional players alike.

Key Technical Levels to Watch

'On the technical front, Nifty has immediate support in the 24,000–24,400 zone, which will be crucial for sustaining its current breakout structure,' analysts noted. A decisive and sustained move above the 25,350–25,800 resistance band, they added, could open the door to further upside. Any pullback towards the support zone is expected to attract buying interest, provided the index holds above its breakout levels. Traders have been advised to maintain a positive bias while staying selective and watching for profit-booking pressure.

For Bank Nifty, the index retains a bullish disposition following its recent decisive breakout and a strong weekly close. Analysts caution, however, that some consolidation after the sharp upward move cannot be ruled out. 'Sustaining above the 57,500–58,300 support zone will be important for maintaining positive momentum, while the index could move towards the 59,700–60,200 resistance range in the coming trading sessions,' experts said.

Macro Factors Shaping Samvat 2083

Beyond chart patterns, market participants are expected to stay selective through the new Samvat, prioritising fundamentally strong companies and using corrections to build long-term positions. Analysts identified domestic corporate earnings growth, geopolitical tensions, crude oil prices, infrastructure spending, interest rate movements, and currency fluctuations as the primary variables likely to steer market direction through Samvat 2083.

Energy-linked inflation, supply chain disruptions, and elevated overall inflation could weigh on consumption demand and broader economic activity, analysts cautioned. On the other hand, strong corporate earnings momentum expected in FY27 is seen as a potential counterweight to these headwinds.

FII Flows: A Key Variable

Foreign institutional investors (FIIs) provided significant buying support during the recent rally, but analysts flagged the sustainability of these inflows as an important watch point. FII behaviour has historically been sensitive to global risk sentiment, US dollar movements, and domestic macro surprises — all of which remain fluid heading into the new financial year.

With the Muhurat session setting a symbolic tone, the market's ability to hold key support levels in the days that follow will be the first real test of whether Samvat 2083 can sustain the momentum built in the closing weeks of the previous year.