Indian benchmark indices are expected to open positively as global sentiment improves following the U.S. government’s progress on a shutdown bill. ## U.S. Government Shutdown Bill
– The U.S. Congress passed a bill to end the longest federal shutdown. – This development raises hopes for more stable economic activity. ## Market Reactions
– The GIFT Nifty was at 25,723, up 60 points (0.2%) at 7:40 a.m., indicating a favorable start for domestic equity. – Market experts view this as a relief for global investors, reducing risks to U.S. government operations and economic data releases. – The positive outlook has increased investors’ risk appetite, leading to broad-based buying in the Indian equity market. ## Wall Street Performance
– Major U.S.
indices closed significantly higher, driven by gains in AI-focused companies like Nvidia and Palantir. – The S&P 500 rose by 1.54%, the Nasdaq by 2.27%, and the Dow Jones by 0.81%. ## Nifty Key Levels for November 11
– The Nifty 50 remains within a rising channel, supported above the critical zone of 25,500 – 25,550. – Resistance is seen at 25,700 – 25,820; a breakout above this could signal further gains. – A drop below 25,500 may test support at 25,300 – 25,150. – Ponmudi R, CEO of Enrich Money, mentioned that as long as the index stays above the channel’s lower end, the market structure will remain positive.
## Bank Nifty Outlook
– The Bank Nifty is consolidating near its resistance zone of 58,000–58,200. – A breakout above this zone could push the index towards 58,600–59,000, with immediate support at 57,800–57,500.
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