Trade Setup For Nov 27: Nifty Faces Resistance At 26,300 As Index Tests All-Time High

The Nifty has entered into a "bull-run" as it broke its three-session losing streak to end near a record-high, according to analysts.

The Nifty has formed a bullish Marubozu candlestick pattern in the daily chart, which engulfed previous three-session price action, signalling strength. It has formed a strong bullish candle, showing that price opened at one extreme and closed at the other, indicating strong one-sided market momentum, according to Bajaj Broking Research.

The key resistance levels for the Nifty lie around the "imminent" all-time high level of 26,277 between 26,300 and 26,500 levels. On the downside, support is placed at 26,100–26,000, according to Rajesh Bhosale, equity technical analyst at Angel One.

The analyst added that 26,100–26,000 remained the immediate support zone, while a stronger base shifted towards 25,850, aligning with the 20-double exponential moving average and last week's matching lows.

Bullish momentum for the Bank Nifty is also likely to continue. The index sees key resistance at 60,000–60,300 levels, while support lies at 59,200-59,000 levels, as per Angel One's Rajesh Bhosale.

"Bank Nifty formed a bullish Marubozu candlestick pattern, which engulfed previous four sessions price action signalling strength. The index in the process rallied to a fresh all time high," Bajaj Broking added.

Nifty settled above 26,200 mark on Wednesday, just 72 points away from a record-high.

The benchmark also recorded the biggest intraday gain since 26 June 2025, while, broader market indices gain for second consecutive session.

"The all-time high now sits within striking distance and appears more like a near-term formality", added Rajesh Bhosale, Equity Technical Analyst, Angel One.

Nifty metal and Nifty Oil and Gas led the gains in Nifty and all sectoral indices closed higher. The top gainers for the index were JSW steel and SAIL with gains over 3%. Sensex settled near the 85,600 mark.