Market Minute | December 03, 2025
🚨 Nifty50 defends 20-DEMA as IT & Private Banks step up; PSU Banks take a hit; DrReddy’s breakout on watch & more inside!
Nifty 25,986.00 â–¼ -0.18%
Sensex 85,106.81 â–¼ -0.04%
Bank Nifty 59,348.25 â–² +0.13%
A Market that fell, But bounced back!
The Market looked under pressure for most of the day, but the Nifty50 once again showed that its 20-DMA is more than just a line on the chart. After slipping early and even breaking below 25,900, the index clawed its way back to finish comfortably above the 20-DMA. Sensex too ended almost flat, but the real price action was the recovery from the day’s low.
Under the surface though, things weren’t as Bullish. Breadth was weak: 37 Nifty50 stocks closed in the red. The Nifty Midcap 100 and Small Cap 100 slipped close to ~1%, showing broad-based softness across segments. But even in a tired market, the Nifty Bank quietly added 74 points, helping stabilize the sentiment.
Sectoral Mood: IT & Private Banks rose while PSU Banks take a hit!
With the Rupee hitting a fresh record low, export-heavy IT stocks finally found wind beneath their wings. Wipro led from the front with a solid 1.81% gain. Private Banks also chipped in steadily.
But the pain point was unmistakable: PSU banks fell. The government’s denial of any plan to raise FDI limits sent the entire pack tumbling, dragging the PSU Bank Index down 3.07%. Indian Bank, HUDCO, Bank of India, and Bharat Dynamics were among the worst-hit Midcap names.
Metal names saw mixed action, Hindustan Zinc gained 1.77%, Thanks to Silver touching fresh highs, while JSW Steel recovered from its intraday lows after news of its JFE BPSL deal. Meanwhile, Angel One slipped 5.12% on a weak November update, and IndiGo continued its three-day losing streak.
The road ahead: What’s next?
The index feels like it’s trying to stabilize, at least for now. The Nifty found intraday support near the 200-hourly moving average at 25,880, adding weight to the broader demand zone of 25,825–25,880. On the upside, the real hurdle begins at 26,100, with an even stronger supply wall at 26,150.
Bank Nifty, on the other hand, is looking relatively well-positioned. It held firm near 58,900 and is now knocking on the door of 59,400–59,500, a breakout here could unlock higher levels quickly. As for the Sensex, Support is near 84,700–84,750 and resistance starts around 85,450.
NIFTY50: Top Gainers
WIPRO â–² +1.81%
TCS â–² +1.41%
ICICIBANK â–² +1.35%
NIFTY50: Top Losers
MAXHEALTH â–¼ -2.82%
ADANIENT â–¼ -2.22%
BEL â–¼ -2.20%
Key levels to watch for December 04, 2025
Open Interest insights
Call writers are strongly defending 26,100 (36.61L) and 26,200 (27.08L), creating a firm overhead barrier for the index. At the same time, put writers are active at 25,900 (36.14L), where the index has been finding support. The PCR-OI is at 0.7.
What does this mean? This setup hints that Nifty may stay rangebound, resistance near 26,100–26,200, support around 25,900. A decisive break of either side could set the tone for the next move.
Today’s buzzing stocks at a glance
News you can use
Rupee hits a fresh record low of 90.18 against the US dollar.
India’s November Services PMI rises to 59.8 from 58.9 in October, says HSBC/S&P Global.
India’s November Composite PMI eases to 59.8 from 60.4 in October.
NBCC secures five new orders worth ₹665 crore.
MoS Finance says no proposal has been approved to raise FDI in PSU banks to 49%.
JSW Steel and JFE Steel to form 50:50 joint venture for the transfer of the BPSL integrated steel facility. JFE Steel to invest ₹15,750 crore in the new JV.
Chart of the day: DRREDDY
Spotted: Flag & Pole
Structure: A Flag & Pole pattern forms when a sharp, impulsive rally (the pole) is followed by a consolidation (the flag), showing a brief pause in momentum.
Validation: A breakout above the flag’s upper boundary, ideally with strong volume, confirms continuation of the prior trend.
Trading Insight: This pattern signals trend strength; once price breaks out of the flag, it often resumes the rally quickly, mirroring the pole’s momentum.
That’s a wrap for today’s action-packed session! We’ll be back in your inbox on December 04, 2025, with more sharp insights, fresh trends, and signals from the markets.