Stock Market Outlook Today: Cautious Trading Likely as Nifty Consolidates Near All-Time High on Profit-Booking

Indian equities are set to begin the week on a cautious but potentially stable note on Monday, November 24, as markets react to Friday's decline and digest mixed global cues. On November 21, benchmark indices slipped into the red, with the Nifty closing near the 26,100 mark and the Sensex ending 400 points lower.

Stock Market Outlook Today, 24 November 2025

Profit-booking after a brief two-day recovery, weakness in the rupee, and softer manufacturing PMI data collectively weighed on sentiment. Broader markets underperformed sharply, with both mid-cap and small-cap indices falling over 1%, indicating continued unwinding at higher levels.

Sectoral breadth also remained weak as all major indices, except FMCG, closed in the red, with capital goods, realty, PSU banks and metals witnessing declines of 1-2%.

Nifty Prediction Today This Monday on November 24

According to Bajaj Broking, "Nifty has formed a bear candle which mostly remained contained inside previous session range signaling consolidation amid weak global cues near the previous all-time high of 26277." This suggests that traders may initially witness a consolidation-led start on Monday, especially as the index hovers close to its record high.

The brokerage further added that "a follow through strength above all-time high (26277) will open further upside towards the 26,500 levels in the coming weeks." For Monday's session, any early stability or positive global sentiment could push the Nifty toward retesting 26,200-26,277 levels. However, failure to sustain above this zone may keep the index range-bound between 26,277 and 25,700.

Short-term support remains strong around the 25,500-25,700 region, which aligns with the 50-day EMA and the recent breakout zone. Analysts maintain a bullish medium-term bias, noting that dips should be used as buying opportunities in quality large- and mid-cap stocks.

Sensex Prediction Today

The Sensex may mirror Nifty's consolidation pattern on Monday, with the index likely to face resistance near its recent highs while finding support at lower levels amid steady domestic flows. A positive opening cannot be ruled out if global markets stabilize, but volatility may persist due to the sensitive macro environment and ongoing profit-booking pressure.

Bank Nifty Outlook for November 24

Bajaj Broking notes that "Bank Nifty formed a bear candle with a lower high and lower low, highlighting profit booking at higher levels amid weak global cues." Despite Friday's dip, the index remains structurally strong after breaking out above its four-week consolidation range of 57,300-58,600 earlier in the week.

The research firm expects the index to maintain its positive momentum, stating that it may move toward 59,800 in the coming sessions based on the measuring implication of the breakout. For Monday, the 58,300-58,000 zone will act as important support, with the previous resistance now turning into a cushion for buyers. A move above 59,200-59,300 could revive bullish momentum quickly.

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