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Market Outlook: Nifty, Sensex Likely to Trade Range-Bound Amid Muted Global Cues
Benchmark indices Nifty 50 and Sensex are expected to maintain their range-bound movement on Tuesday, November 4, mirroring the subdued sentiment across Asian markets.
At 7:30 a.m., the GIFT Nifty was trading at 25,874, down by 45 points (0.17%), indicating a muted opening for Dalal Street.
On the domestic front, markets continue to consolidate with a positive undertone, supported by robust institutional inflows and steady corporate earnings momentum. However, analysts caution that volatility could persist within the current trading band.
Overnight, U.S. markets ended on a mixed note. The S&P 500 and Nasdaq Composite closed higher—up 0.17% and 0.46%, respectively—driven largely by optimism around AI-related deals. Meanwhile, the Dow Jones Industrial Average slipped 0.48%, as uncertainty loomed over the Federal Reserve’s monetary policy outlook due to limited fresh economic data.
Across Asia, equities opened lower on Tuesday, tracking weak U.S. data and ongoing concerns about the Fed’s policy stance, which weighed on investor sentiment.
Key Levels to Watch on November 4
The Nifty 50 continues to find strong support around 25,660, which serves as a critical pivot zone for the ongoing structure.
“A sustained close below this level could trigger short-term weakness toward 25,500–25,400, while holding above 25,800 may open the door for a retest of 25,960–26,050,”
said Ponmudi R, CEO of Enrich Money.
He further added that a decisive breakout above 26,100 could reignite bullish momentum, potentially setting the stage for the next leg higher in the index.
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