Markets Slip From Record Highs as Profit-Taking Kicks In

Nifty 26,175.75 ▼ -0.10%
Sensex 85,641.90 ▼ -0.08%
Bank Nifty 59,681.35 ▼ -0.12%

The Market started the week with every major index opening at fresh record highs. But as the day unfolded, those early gains faded. By the close, The Nifty50, Bank Nifty and Sensex had retraced the gains, while the Midcap index barely moved.

Profit-taking was seen right after the morning surge, and you could see the hesitation across the board. The undertone turned cautious, especially with Nifty repeatedly taking support around the 50-EMA on the intraday chart, 26,125 now stands out as the level everyone’s watching. And while the indices have been hitting highs relentlessly, today’s inability to sustain momentum raises the question: Are we nearing a breather?

Sector-wise, the spotlight was clearly on Autos, which continued to ride strong November sales numbers. Tata Motors PV and Maruti were among the standout gainers. On the flip side, Realty was the biggest drag.

Among individual movers, Aviation stocks struggled, IndiGo slipped as the weaker Rupee and higher ATF prices weighed on sentiment. Metals had a good run with Hindustan Zinc and NMDC rising. IT stocks also inched higher thanks to the Rupee’s drop, with Cyient and KPIT Technologies outperforming. Meanwhile, Paytm and Kfin Technologies jumped after upbeat Brokerage views.

Despite the flat finish, the broader market wasn’t weak, Midcaps held steady and Smallcaps even posted a modest 0.25% gain. Volatility stayed contained, suggesting that even though traders booked profits. But momentum is clearly slowing, and the market is entering a “Prove yourself” phase where sustaining levels matters more than hitting new ones.

Heading into the next session, all eyes remain on those key support zones, especially Nifty’s 26,125 and Bank Nifty’s 59,500. If they hold, this could just be a healthy pause after a relentless ride to record highs. If they slip, we may finally see the indices take that overdue breather. With the RBI policy around the corner, expect the market to stay slightly cautious but very much alive to fresh opportunities.

TMPV ▲ +1.96%

BEL ▲ +1.34%

MARUTI ▲ +1.24%

MAXHEALTH ▼ -3.22%

INDIGO ▼ -1.82%

BAJFINANCE ▼ -1.58%

Call writers are defending 26,200 (87.03L) and 26,300 (1.17 Crore), effectively marking this zone as a strong overhead barrier. In contrast, put writers aren’t displaying the same confidence as the activity stayed relatively muted. The PCR-OI is at 0.7.

What does this mean? This imbalance signals a cautious-to-bearish undertone, where upside moves may face supply pressure. With limited support, the downside appears more vulnerable unless fresh buying interest steps in.

• Indian Rupee hits a record low of 89.67 against the US dollar.

• India’s November manufacturing PMI eases to 56.6 from 59.2 in October.

• GST Collections rose 0.7% YoY to ₹1.70 Lakh Crore in November.

• Coal India’s November production rises 1.2% to 68 MT; Offtake slips 0.3%.

• Maruti Suzuki’s total sales rose 26% to 2.29 lakh units.

• Royal Enfield’s total sales increased 22% to 1 lakh units.

• Tata Motor’s CV division reports sales of 35,539 units in November.

• Eicher Motors VECV sales rose 37.3% to 7,652 units YoY.

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Spotted: Rectangle

Structure: A Rectangle Pattern forms when price moves between horizontal support and resistance, showing clear range-bound behaviour as buyers and sellers battle for control.

Validation: A decisive BO above resistance or breakdown below support, ideally accompanied by strong volume, confirms the next directional move.

Trading Insight: Reflects consolidation after a trending move. Once price escapes the range, it often triggers a swift continuation in the breakout direction.

That’s a wrap for today’s action-packed session! We’ll be back in your inbox on December 02, 2025, with more sharp insights, fresh trends, and signals from the markets.