Stock Market Outlook Today: Sensex, Nifty Likely to Consolidate as Investors Eye GDP Data & US-India Agreement

Stock market on Friday is expected to open on a cautious note with consolidation in Nifty and Bank Nifty, as investors await key triggers including GDP data, the US-India agreement, and the RBI policy announcement. While short-term profit booking may emerge near previous highs, the broader trend remains positive, suggesting that Nifty could gradually test 26,500-26,800 and Bank Nifty may target 60,400-61,000 levels in the coming weeks.

Stock Market Outlook Today on 28 November 2025

Indian equity markets are likely to witness cautious trading on Friday, 28 November 2025, following a mixed session on Thursday where Nifty touched a fresh all-time high but ended with minimal gains.

According to Bajaj Broking Research, "The benchmark Nifty index hit a new all-time high on 27th November, achieving a major milestone after a gap of 14 months. But the rally was short-lived. After touching the new high, the index saw some selling pressure. In the last hour, fresh buying helped Nifty bounce back slightly and finish above 26,200 with a tiny rise of 0.04%."

The Sensex closed at 85,720.38, up 110.87 points or 0.13 percent, while the Nifty ended at 26,215.55, gaining just 10.25 points or 0.04 percent. Most sectoral indices closed lower, with oil & gas, realty, consumer durables, and energy slipping around 0.5%, while media, IT, and private banks performed relatively better. The midcap index ended flat, whereas the small-cap index fell by 0.5%, reflecting a mixed market sentiment.

Nifty Prediction Today: Will Nifty Reach All Time High Again?

Technical experts at Bajaj Broking note that Nifty is consolidating after Thursday's milestone move. They said, "Nifty formed a small bodied candle with shadows in either direction signaling consolidation amid stock specific action after previous session strong up move. Index on Thursday session has hit a fresh all-time high of 26,310. Going ahead we expect the index to maintain overall positive bias and gradually head towards 26,500 and then towards 26,800 levels in the coming weeks."

Short-term support is positioned around 25,800-25,700, coinciding with the 20- and 50-day EMAs and recent two-week lows, which makes this zone crucial for sustaining the positive bias.

Hrishikesh Yedve, AVP Technical and Derivative Research, Asit C. Mehta Investment highlighted that Nifty's immediate hurdle remains 26,310, with a potential upside toward 26,500-26,800 if this level is breached sustainably. On the downside, 26,000 and 25,840 remain key support zones.

Bank Nifty Outlook For 28 November 2025

Bank Nifty also displayed strong momentum on Thursday. Bajaj Broking Research commented, "Bank Nifty formed a small bullish candlestick pattern with a higher high and a higher low signaling continuation of the positive momentum. The index in the process rallied to a fresh all-time high of 59,866... We expect the index to retain its positive momentum and move towards the 60,400 level in the coming sessions. A move above that will open further upside towards 61,000 levels." The 58,800-58,600 zone is likely to provide strong support for short-term traders.

Regarding Bank Nifty, Mr Yedve noted, "The Bank Nifty index witnessed mild profit booking near the trendline resistance; however, it still managed to form a bullish candle, indicating underlying strength. As long as Bank Nifty holds above 59,400, the ongoing rally could see an extension toward the 59,900-60,000 marks. Therefore, short-term traders are advised to maintain a buy-on-dips approach in Bank Nifty."

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