Stock Market Outlook Today: Nifty May Hit All-Time High; Eyes US Labour Market Data & FOMC Cues on 20 November

Indian equity markets are poised for a potentially upbeat session on Thursday, November 20, 2025, following a strong rebound in benchmark indices on Wednesday. Renewed optimism over a possible India-US trade agreement, improving global rate-cut expectations and firm buying in IT and PSU banking stocks have collectively lifted market sentiment.

Stock Market Outlook Today, 20 November 2025 Amid US Market Labour Data

Analysts now expect the markets to maintain their positive trajectory, with key levels likely to guide short-term movements.

On Wednesday, the Sensex jumped 513.45 points (0.61%) to close at 85,186.47, while the Nifty 50 advanced 142.60 points (0.55%) to end at 26,052.65, reclaiming the crucial 26,000 mark. Sectorally, Nifty IT surged 2.97%, emerging as the top gainer after softer US labour market data boosted chances of a US Federal Reserve rate cut.

PSU banks also extended gains, supported by merger-related developments and improved fundamentals. However, Nifty PSE and Nifty Realty turned out to be the major laggards of the day.

How Nifty50 Will React To US Labour Market Data? Check Nifty Prediction Today

Bajaj Broking Research noted the strong technical setup in the Nifty after Wednesday's recovery. According to the brokerage, "The index has formed a bullish candle with a higher high, indicating strong buying interest following last session's corrective decline. This signals a continuation of positive momentum as the Nifty has reclaimed the 26,000 mark."

Analysts added that the index is now hovering close to last month's high of 26,104, which will be a critical resistance. A decisive breakout above this zone could set the stage for the Nifty to move toward its all-time high of 26,277 in the upcoming sessions.

The brokerage further observed the importance of support levels in maintaining the bullish structure. "Strong support is positioned at 25,700, aligned with the previous gap from 12th November, the 20-day EMA, and key retracement levels," Bajaj Broking Research said.

The daily RSI indicator also reinforces the bullish momentum, with the 14-period RSI staying in an uptrend and rebounding from its short-term moving average, pointing to ongoing strength.

Bank Nifty Outlook, 20 November 2025

Bank Nifty, too, displayed remarkable resilience, climbing to a fresh all-time high of 59,264 in Wednesday's trade. The index extended its breakout from a four-week consolidation range of 57,300-58,600, indicating sustained buying, particularly in heavyweight and PSU banking names.

Bajaj Broking Research highlighted that "Bank Nifty continues to show relative strength compared to the Nifty, indicating sustained buying interest."

The brokerage expects the index to maintain its upward bias with a potential move toward 59,800 in the coming sessions. The support zone of 58,500-58,200 is expected to cushion any downside, as previous resistance levels now transition into support.

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