Pre-Market Outlook – 03.11.2026
Nifty Prev. Close: 23440.80
Thank you for reading this post, don't forget to subscribe!Swing Highs Breached, Northward Momentum Builds. – The Nifty has demonstrated renewed bullish strength by registering a decisive close above its recent swing highs, signalling an improvement in the prevailing market sentiment. The breakout reinforces the possibility of further northward extension, although intermittent consolidation and profit booking cannot be ruled out. Sustaining above the highs of 2nd November and 19th October remains crucial to preserve the positive momentum and pave the way for higher levels. Any interim dips may attract buying interest, keeping the near-term outlook constructive.
The benchmark indices are expected to open marginally higher, with the underlying bias remaining cautiously positive despite mixed cues from overseas markets. The Nifty may witness periodic pullbacks, with buying interest likely to emerge around 23300, followed by the 23200 zone. On the upside, a decisive and sustained move above 23500 is essential to revive broader buying participation and potentially extend the recovery towards 23600. Failing this, the index may continue to witness range-bound consolidation with intermittent volatility.
From a positional perspective, as the index almost approaches the interim Behaviour Shift Zone of 23700, it is crucial to monitor its stability and sustained movement above the recent swing high and yesterday’s high. Consecutive closes above these stipulated zones could pave the way for a refreshed upward leg, potentially targeting the core Behaviour Shift Zone of 24700. Conversely, failure to establish such stability may trigger a pullback towards the recent swing low.
Sectoral Focus
Metal, Oil&Gas, Pharma, Energy, IT, Auto.
Stocks To Watch
ITC, National Aluminium Company, KEC International, Samvardhana Motherson International, NBCC India, Marico, Escorts Kubota, Lupin, UPL.
Earnings Corner
Keep robust stoploss strategy on all trades.
Wishing everyone a fruitful day!
