Indian benchmarks posted broad-based gains on Friday, propelled by an appreciating rupee alongside healthy second-quarter earnings. The sharp rally propelled the NSE Nifty 50 above the 25,000 threshold to touch its strongest mark since February 2026. Looking toward the special November 8 festive window, analyst Chandan Taparia selected Meesho, Eternal, MCX, and Adani Ports based on their positive chart patterns. Continued upward movement for these picks relies on holding specific technical bases, such as the 1600 zone for Adani Ports.
Key points
Chandan Taparia identified Meesho, Eternal, MCX, and Adani Ports as technically strong se…: Chandan Taparia identified Meesho, Eternal, MCX, and Adani Ports as technically strong selections for November 8.
Technical upside for Meesho and Eternal depends on sustaining the 255 zone and the 370 zo…: Technical upside for Meesho and Eternal depends on sustaining the 255 zone and the 370 zone respectively.
Strong foreign fund inflows, softer crude oil prices, and currency strength continue to r…: Strong foreign fund inflows, softer crude oil prices, and currency strength continue to reinforce domestic market sentiment.
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The Nifty 50 and Sensex extended their winning streak to a seventh consecutive session on Friday, defying a selloff in global markets as improving domestic cues fuelled a strong rally on Dalal Street. The Sensex surged over 1,700 points, while the Nifty reclaimed the crucial 25,000 mark, supported by sustained foreign fund inflows and a decline in crude oil prices.
Investor sentiment also drew support from healthy second-quarter corporate earnings and a strengthening rupee, adding to the festive cheer in the domestic market.
The 30-share BSE Sensex climbed 1,718.01 points, or 2.17%, to close at the day's high of 81,028.02.
The NSE Nifty 50 rose 493.75 points, or 2.01%, to settle at 25,030.35, also its highest level of the session. The index touched a nine-month high, with buying seen across sectors. It had last closed at a higher level of 25,088.40 on 2 February 2026.
For this year’s Diwali Muhurat trading session, Chandan Taparia, Head of Derivatives and Technicals, Wealth Management, Motilal Oswal Financial Services, has recommended four stocks across diverse sectors.
His picks include Meesho, Eternal, Multi Commodity Exchange…
Record earnings from the copper division and operational recovery at Novelis propelled Hindalco Industries to strong second-quarter financial growth. While elevated domestic coal prices threaten to temporarily increase domestic aluminium production costs in the coming quarter, broader market sentiment remains reinforced by robust earnings diversification away from London Metal Exchange swings.
Market participants entering the auspicious Samvat 2083 session face a landscape defined by thin liquidity and technical resistance near recent market highs. Analysts advise against placing aggressive bets, instead recommending a selective, stock-specific approach that capitalizes on low benchmark valuations while sidestepping overheated market segments. Investors must carefully navigate key technical boundaries alongside external macroeconomic headwinds like crude oil fluctuations.
Strong foreign institutional inflows and lower crude oil prices sparked a massive weekly rebound across Indian equity benchmarks, pushing the Nifty 50 past key technical milestones. Market participants are positioning for additional momentum during the upcoming festive session as major indices flash technical breakouts. However, analysts warn that elevated momentum indicators could trigger near-term consolidation following the sharp advance.