📈 DAILY MARKET UPDATE
📅 Date – 4 November 2026
1️⃣ VERY IMPORTANT NEWS
- Nifty gained 370 points (+1.6%) and extended its winning streak to four consecutive sessions, closing at 23,810.
- FIIs continued buying for the third consecutive day, with net purchases of ₹6,840 crore.
- SBI reported a 14% YoY increase in standalone net profit to nearly ₹23,000 crore, while NII increased 15% to ₹49,143 crore.
- US midterm election results will be announced during Indian market hours.
- Infosys ADR declined 2.5% in the US market, indicating possible pressure on IT stocks.
🌍 GLOBAL MARKET
✔️ US Markets:
- Nasdaq: +0.83%
- S&P 500: +0.36%
- Dow Jones: -0.38%
- Semiconductor stocks led the rally, with Broadcom gaining over 3%.
✔️ Asia Market Update:
- Nikkei: -2.2%
- TOPIX: -1.3%
- Kospi: -0.8%
- Small-cap Kosdaq: -1.6%
- Australia's ASX 200: -0.36%
✔️ Gift Nifty Signal:
- Trading near 23,725, indicating a mildly negative opening.
- Around 50 points lower compared with the previous Indian market closing reference.
✔️ Crude Oil:
- Brent Crude: Above $104/barrel.
- WTI Crude: Around $97/barrel.
- Oil prices remain volatile due to US-Iran tensions and conflicting reports about a possible deal.
🇮🇳 INDIAN MARKET OVERVIEW
✔️ Sector Trend:
- FMCG, Private Banks and Financial Services led the rally.
- PSU Banks and SBI remained weak.
- Midcap: +1%
- Smallcap: +0.4%
✔️ Market Sentiment / Trend:
- Bullish momentum continued for the fourth consecutive session.
- Nifty gained 370 points and closed at 23,810.
- Strong buying interest supported the market.
- Overall sentiment is positive, but a mildly negative opening is expected.
✔️ Volatility (India VIX):
- India VIX increased 1.4% to 15.7.
💰 FII & DII DATA
✔️ FIIs:
- Net Buying: ₹6,840 Crore.
- Third consecutive session of buying.
- Cumulative net buying over three sessions: approximately ₹15,500 Crore.
✔️ DIIs:
- Net Selling: ₹3,680 Crore.
📊 COMMODITIES UPDATE
✔️ Crude:
- Brent Crude: Above $104/barrel.
- WTI Crude: Around $97/barrel.
- Oil remains highly volatile due to geopolitical developments.
📊 OPTIONS DATA (OI BUILD-UP)
✔️ Call OI:
- Maximum Call OI at 24,000.
- Next major Call OI at 23,600.
- Fresh Call writing observed at 24,200 and 23,600.
✔️ Put OI:
- Maximum Put OI at 23,600.
- Next major Put OI at 23,500.
- Fresh Put writing at 23,600 and 23,500.
✔️ PCR:
- Nifty PCR: 1.17 (previously 1.35).
- Indicates a relatively positive options positioning.
📈 NIFTY LEVELS
✔️ Trend: Bullish
- Immediate Support: 23,800
- Major Support: 23,700 / 23,600
- Immediate Resistance: 23,900
- Strong Resistance: 24,000 / 24,400
BULLISH BIAS
📉 BANK NIFTY LEVELS
✔️ Trend: Mildly Bullish / Consolidation
- Immediate Support: 55,500
- Major Support: 55,200 / 55,100
- Immediate Resistance: 55,600–55,700
- Strong Resistance: 55,800 / 56,000
📊 STOCKS / SECTORS IN NEWS
- SBI: Standalone net profit increased 14% YoY to nearly ₹23,000 crore. Results were mixed against different analyst estimates.
- Bajaj Finance & Bajaj Finserv: Both companies reported approximately 20% YoY profit growth.
- NSE: Earnings announced; company remains in focus.
- Infosys: ADR declined around 2.5% in the US market, indicating possible weakness.
- PSU Banks: SBI and PSU banking stocks remained under pressure.
🎯 EXPECTED TRADING RANGE TODAY
✔️ Nifty Range: 23,600 – 24,000
✔️ Bank Nifty Range: 55,200 – 56,000
📅 IMPORTANT DATA / EVENTS TODAY
- US Midterm Election Results during Indian market hours.
- India's October Services PMI – 10:30 AM.
- US Private Jobs Data – 6:45 PM.
- US Services PMI – 8:30 PM.
- Quarterly results of 379 companies, including Apollo Hospitals, Lenskart, PFC and others.
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🎯 INTRADAY TRADING VIEW
👉 Overall market structure remains bullish after four consecutive positive sessions.
- Above 23,900, Nifty may attempt to move towards 24,000.
- Below 23,800, weakness may extend towards 23,700–23,600.
- Bank Nifty needs to sustain above 55,700 for stronger bullish momentum.
- Keep an eye on crude oil prices and US election headlines.
- Expect volatility due to global developments.