Daily Market Quote :05 November 2026

Nifty continued its excellent upside rally on Thursday and closed the day with sharp gain of 576 points. A long bull candle was formed on the daily chart with huge opening upside gap around 23960-24300 levels.

Technically current market action indicates strong thrust of bulls to push the market higher. Though, Nifty placed at the swing highs, still there is no indication of any tiredness or reversal pattern forming at the higher levels. If Thursday’s opening upside gap doesn’t get challenged in the next 2-3 sessions, then one may expect uptrend continuation pattern for the short term.

The short-term trend of Nifty continues to be positive. On the way up, Nifty could find strong resistance around 24700-24800 levels before showing any consolidation/dip from the highs. Any weakness could find support around 24300.