Nifty 50 Rebounds into Green, Gains 0.1% Amid Volatile Trade

After a weak opening and two consecutive days of losses, the Nifty 50 index staged a modest recovery on November 7, edging up 0.1% in intraday trade. The move signals tentative buying interest amid global uncertainty and profit booking pressure. Analysts suggest the index is navigating a narrow range, with key support and resistance levels in play.

Major takeaways:

• The Nifty 50 index rose 0.1% to trade near 25,535, reversing early losses and turning positive by mid-session.
• Broader market sentiment remains cautious, with mixed cues from global equities and persistent foreign institutional outflows.
• Selective buying in pharma, IT, and FMCG stocks supported the rebound, while banking and energy counters showed limited traction.
• Technical analysts highlight 25,450 as a critical support zone, with resistance seen around 25,700–25,800.
• Traders are watching for cues from U.S. jobs data and domestic earnings to gauge near-term momentum.

Sources: Reuters, NSE India, Livemint