The India VIX, often referred to as the “fear gauge” of the market, slipped 2.01% to 12.30 as of November 10, 3:33 PM IST, reflecting a slight cooling in market volatility expectations.
The decline indicates that investors currently foresee a relatively stable trading environment in the near term. A lower VIX generally signals reduced anxiety among market participants and supports the ongoing positive sentiment in equities.
Nifty Outlook Today
“Overall, Nifty appears poised for range-bound movement as traders adopt a cautious stance ahead of key triggers. While the 25,500-25,350 zone is likely to act as a strong support base, the 25,650-25,750 zone remains the immediate resistance cluster. A buy-on-dips approach remains favourable only as long as the index sustains above 25,500, while a decisive close above 25,750 could pave the way for a meaningful up-move toward the 25,900-26,000 levels,” commented Dhupesh Dhameja, Derivatives Research Analyst, SAMCO Securities.
Bank Nifty Outlook
“Overall, the index appears to be in a consolidation phase, with support placed at 57,600-57,500 and resistance at 58,100-58,300. As long as the index holds above 57,600, the ongoing sideways movement within the flag pattern may persist. A decisive breakout above 58,250 would, however, signal the potential resumption of the uptrend, paving the way for the index to move toward 58,500-58,700 levels in the near term,” said Dhupesh Dhameja, Derivatives Research Analyst, SAMCO Securities.
Stocks To Buy Today
On Tuesday, November 11, technical analyst Riyank Arora of Mehta Equities Ltd. recommended buying two stocks after the Nifty index produced a modest bullish candle on the daily chart, indicating a cautious effort at recovery after recent losses.
CDSL
Buy | CMP: ₹1589 | SL: ₹1550 | Target: ₹1675 / ₹1720
CDSL has regained momentum after bouncing from its support near ₹1550. The stock is witnessing renewed buying interest with improving volume and a positive RSI crossover. Holding above ₹1589 may open the way for an up-move toward ₹1675 and ₹1720. Traders can consider buying with a stop-loss at ₹1550 to manage downside risk.
Torrent Pharma
Buy | CMP: ₹3817 | SL: ₹3750 | Target: ₹3950 / ₹4000
Torrent Pharma is maintaining a strong uptrend, holding firm above its key support zone. The stock’s technical structure and RSI both indicate continued bullish momentum. A sustained move above ₹3820 could drive prices toward ₹3950 and ₹4000. Traders should look to buy on dips while keeping a strict stop-loss at ₹3750.