Weekly Trend Report
- 10th Nov 2025
Week Gone By
The Indian equity market ended the week on a cautious note as profit-taking and global uncertainties weighed on sentiment. Market volatility persisted, reflecting mixed corporate earnings and signs of moderating domestic growth. Manufacturing activity strengthened, supported by GST relief and productivity gains, while services growth eased slightly but remained in expansionary territory. Broader markets were relatively resilient, with midcaps edging higher. Among key movers, BPCL, Britannia, and SBI lent support, while Power Grid and Airtel dragged on indices. Globally, weak Chinese manufacturing data, a decline in exports, and rising U.S. layoffs amid an extended government shutdown dampened risk appetite. Investors remained watchful of upcoming macroeconomic cues and global developments, which are expected to guide near-term market direction.
Week Ahead
Indian equities are expected to begin the week on a cautiously optimistic note as investors track corporate earnings, global cues, and key macroeconomic data. Domestically, focus will be on inflation prints, with consumer price data due Wednesday and wholesale price data on Friday, offering insights into near-term monetary policy expectations. A moderation in inflation could reinforce the case for a supportive stance by the Reserve Bank of India. Global sentiment will hinge on U.S. inflation readings and crude inventory data, which could influence commodity prices and risk appetite. Meanwhile, China’s industrial output and retail sales figures will be closely watched for signals on global demand recovery and trade momentum.
Technical Overview
- The daily chart shows a classic pullback scenario. After breaking out to a new swing high, the index has faced rejection and is retracing.
- This is currently viewed as a corrective move within a broader uptrend, not a complete trend reversal yet.
- The index is firmly above its 50-Day Moving Average (DMA). This line acts as the critical intermediate support for the coming week.
- As long as the price sustains above this 50 DMA on a closing basis, the medium-term bullish structure remains intact despite the current weakness.
- The previous breakout zone of 25,640 – 25,660 has now flipped into an immediate resistance barrier. Any bounce during the week is likely to face selling pressure in this area.
- The daily MACD has registered a bearish crossover, the fast line has crossed below the slow line
- This indicates that short-term momentum has shifted in favour of the bears, supporting the case for further consolidation or a deeper pullback this week.
- The Daily RSI is cooling off from near-overbought levels. It is currently trending lower, reflecting the easing of immediate bullish sustained pressure.
- But it has not yet hit oversold territory, suggesting there might be more room for this corrective phase to play out.
- The failed attempt to hold the swing high has likely introduced caution. The market is in a “wait-and-watch” mode to see if the 50 DMA support attracts fresh buying interest.
- Conclusion:
For the upcoming week, the outlook on the daily timeframe is cautiously neutral to slightly bearish. The index is undergoing a healthy correction after a failed breakout. The primary focus for the week will be testing the 50 DMAsupport. Holding this level is crucial for the bulls to regroup; a break below it would signal a deeper corrective phase. Immediate upside is capped at 25,640.
