Nifty Breaks Above 26,000 — Can the Index Sustain This Strength?

Indian markets ended the week on a positive note, with the Nifty rising 0.61% to close at 26,068. This came right after the index hit a fresh 52-week high of 26,246 on November 20 before cooling off.

Meanwhile, the India VIX jumped 14% to 13.63, reminding traders that volatility is quietly tightening its grip.

◉ Key Levels to Watch

Support Zones

• Immediate support: 26,000.
  
• Major support: 25,400 – 25,500, where strong put writing is visible
  

Resistance Zones

• Near-term resistance: 26,200 – 26,300
  
• Major resistance: 26,500
  

◉ Key Triggers This Week

Q2 GDP Data (Nov 28)

• India’s GDP print for Q2 FY25–26 will be released this week.
  
• Economists expect another strong reading, especially after Q1 GDP exceeded projections.
  

India–US Trade Deal Progress

• Comments from Commerce Minister Piyush Goyal—hinting at “good news soon”—have lifted sentiment.
  
• The proposed agreement aims to increase bilateral trade from $191 billion to $500 billion by 2030.
  

◉ Outlook & Strategy

• For the coming week, a buy-on-dips approach remains favourable as long as Nifty sustains above 26,000.
  
• A breakdown below this level could shift momentum, but for now, the bias stays positive with caution due to higher volatility.