Technical Analysis

WHAT LIES AHEAD : NEAR-TERM PICTURE [EasyDNNnews:PaidContentStart]

SPOT NIFTY : 

The benchmark Nifty 50 index staged a sharp V-shaped recovery. After correcting nearly 400 points from last Thursday’s high to the recent low of 25,842.95, the index rebounded to register a fresh all-time high of 26,310.45. This breakout came after a long 14-month wait, with the previous record last seen in September 2024. Thursday’s all-time high coincided with resistance at the upper Bollinger Band, triggering Intraday volatility as Nifty briefly slipped below the 26,150 mark. However, a late-session recovery helped the index close above 26,200 for the second straight trading day. 
On the daily chart, this volatility resulted in a high-wave-type candle, though the structure continues to show a higher-high and higher-low pattern. This indicates routine profit booking after Wednesday’s strong rally rather than any structural weakness. Going forward, as long as the index sustains above the 26,070–26,110 zone, the trend remains positive and a buy-on-dips approach is preferred. A breakdown below this zone may pull the index back towards its 20-DMA, currently at 25,870. Overall, the market structure remains constructive, with 26,070–26,110 acting as the crucial immediate support. On the upside, 26,310–26,340 is expected to serve as near-term resistance. A weekly close above this band could pave the way for a move towards 26,800 in the medium term. 

NIFTY DERIVATIVES:
This week Nifty futures closed higher over the last week closing level around lifetime high. Index continued the up move by forming higher high higher low structure in which it closed 0.66 per cent or 172 points higher and closed at 26,393.30. ATM Implied Volatility (IV) is placed below the last week's level at 8.18, with India VIX decreased marginally from last week at 11.78. The Put-Call Ratio (PCR) of upcoming weekly expiry is in neutral region at 1.14. For the coming weekly expiry, total call open interest stands at 19,41,846 contracts, while total put open interest is at 22,25,450 contracts. Among out-of-the-money call options, the 26,500 strike carries the highest open interest at 1,41,699 contracts, followed by the 26,300 with 1,30,217 and 26,600 strike with 1,11,990 contracts, respectively. On the put side, the deep out-of-the-money strike 25,000 has the highest open interest at 1,28,361 contracts, followed by the strike 26,100 with 1,13,863 contracts and strike 25,900 with 1,08,604 contracts. The Max Pain level for the upcoming expiry is positioned at 26,200. 

STOCK STRATEGY
HINDUSTAN COPPER LIMITED ............. BUY .......... CMP ₹325.90
BSE Code ...... 513599
Target 1 .... ₹375
Target 2 .... ₹410
Stoploss ...₹292 (CLS) 

▪️Current Observation: Hindustan Copper Ltd. engages in the exploration, exploitation, and mining of copper and copper ore. Its product portfolio includes cast copper rods, copper cathodes, copper concentrate, copper sulphate, sulphuric acid, reverts, anode slime, and nickel cathodes. Founded on November 9, 1967, and headquartered in Kolkata.
▪️From a technical standpoint, the stock recently confirmed a trend reversal after breaking out of its lower-high and lower-low structure. Beginning May 2024, the price corrected sharply and marked a low of Rs 182.88, which aligns with the 61.8 per cent Fibonacci retracement level of its previous impulse wave. The stock then witnessed a strong rebound and successfully breached the lower-high and lower-low structure, indicating strength returning to the trend. Recently, it broke out of a trend reversal price pattern around Rs 286, a development that carries significant long-term upside potential.
▪️Additionally, copper as a global commodity is on the verge of a strong upmove, which is likely to support the stock’s performance. The company has reduced debt and is currently almost debt-free. It has maintained a healthy dividend payout ratio of 30.1 per cent. Other key metrics include a Stock P/E of 54.8, Dividend Yield of 0.44 per cent, ROCE of 23.8 per cent, ROE of 18.7 per cent, and a Market Capitalisation of Rs 31,443 crore.
▪️Given these factors, we are priming for an upmove. Consider initiating a buy position with a stop loss at Rs 292 and an upside target range of Rs 375–Rs 410. 

REVIEW OF STOCK STRATEGY 

In issue no 4 , dated November 06, 2025, we recommended purchasing shares of Indus Towers Ltd at Rs 398.5. Stock closed below the falling trendline of long-term price continuation breakout on the day of recommendation. Post our recommendation it traded higher and touched the trendline after which it witnessed sell off and traded lower. By analysing the waves of the price patterns, Stock entered in the 2 wave which is the corrective wave that's why stock did not traded higher and remained in range within our target timeline. Thus, we closed position around our buying cost at Rs 397.7. This update is shared exclusively through the Flash News app to ensure our subscribers receive timely and accurate information.

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