Pre-Market Strategy: 04 Nov 2026 | Nifty & Bank Nifty: Key Support & Resistance Levels | Mainboard & SME IPO Radar

Indian Stock Market Pre-Market Opening Today, 4 November 2026: GIFT Nifty Signals Cautious Start; IPO Listings, Allotments and Earnings in Focus

Indian equities may see a cautious start on Wednesday after four consecutive sessions of gains. GIFT Nifty traded below the previous Nifty close, while global technology weakness, crude oil movements, institutional flows and several IPO events remain in focus.

Indian Stock Market Overview

Indian benchmark indices extended their rally on Tuesday, 3 November 2026, with the Nifty 50 closing at a fresh recent high.

• Nifty 50: 23,810.85, up 370.05 points (+1.58%).
• Sensex: 76,917.85, up approximately 1,225.07 points (+1.62%).
• Bank Nifty: 55,540.05, up 537.85 points (+0.98%).
• Nifty Midcap 100: 58,596.25, up 612.85 points (+1.06%).
• Nifty Smallcap 100: 18,652.85, up 57.55 points (+0.31%).
• India VIX: 15.72, up 0.22 points (+1.44%).

The Nifty closed at the day’s high, reflecting strong buying in large-cap stocks. However, the relatively modest gain in small-cap stocks indicates that participation was stronger in larger companies.

GIFT Nifty Today

GIFT Nifty: Around 23,710–23,728, approximately 80–100 points below Tuesday’s Nifty close.

GIFT Nifty indicated a cautious to mildly negative opening for the Indian market. After four consecutive sessions of gains, traders may see some profit booking or consolidation.

The key question will be whether domestic buying absorbs the initial selling pressure. A recovery above the previous close could restore bullish momentum, while sustained weakness below the opening range may lead to further profit booking.

Global Market Cues

US Markets

US markets remained mixed as investors assessed technology-sector valuations, artificial intelligence investment and the implications of the US midterm election developments.

Technology stocks faced pressure, while the broader market showed a more mixed performance. US futures were also indicating a cautious tone during the early Asian session.

Investors should monitor the Nasdaq and US technology futures because continued weakness in global technology shares may affect Indian IT stocks.

European Markets

European equities faced pressure amid broader global uncertainty and weakness in selected cyclical and technology-related stocks.

Investors will continue tracking global risk appetite, crude oil movements and developments in international trade and geopolitics.

Asian Markets

Asian markets were largely weak in early Wednesday trading.

• Nikkei 225: Around 62,892, down approximately 0.30%.
• KOSPI: Around 5,802, up approximately 2.72%.
• Hang Seng: Around 23,526, up approximately 0.57%.
• Shanghai Composite: Around 3,608, down approximately 0.82%.
• Taiwan Weighted: Around 43,307, down approximately 3.59%.
• ASX 200: Around 8,851, down approximately 0.40%.

The weakness in Japan and Taiwan contrasts with the positive performance in South Korea and Hong Kong. This mixed regional picture may keep Indian markets volatile at the opening.

Commodities and Currency Market

Crude Oil

• Brent Crude: Around $104.20 per barrel.
• WTI Crude: Around $97.72 per barrel in the latest available indication.

Crude oil remains below its recent elevated levels. Lower oil prices can provide relief to India’s import bill and inflation outlook, although geopolitical developments remain a key risk.

Gold and Silver

• International Gold: Around $3,946 per ounce.
• Domestic Gold: The rupee-denominated gold market remains sensitive to international prices and currency movements.
• Silver: International and domestic prices may remain volatile as investors assess the dollar and global risk sentiment.

Gold and silver should be monitored separately across international spot, futures and domestic MCX contracts. Their prices can differ because of currency movements, duties and contract specifications.

US Dollar Index and USD/INR

• USD/INR: Around ₹94.73–₹94.74.
• US Dollar Index: Around 101.67.

The rupee’s movement against the dollar remains important for foreign portfolio flows, imported inflation and commodity prices.

FII and DII Activity

Institutional flows were strongly positive from foreign investors on Tuesday, 3 November.

• FII/FPI: Net buying of approximately ₹6,837 crore.
• DII: Net selling of approximately ₹3,679 crore.
• Combined institutional activity: Net buying of approximately ₹3,158 crore.

Foreign buying supported the market rally, while domestic institutions booked net outflows. Continued FII participation will be important for sustaining the current upward momentum.

Nifty 50 Support and Resistance

Previous Close: 23,810.85
Previous High: 23,810.85
Previous Low: 23,482.80
Previous Change: +370.05 points (+1.58%)

Based on Tuesday’s High, Low and Close, the calculated Classic Pivot levels are:

• Pivot Point: 23,701.50
• Immediate Support (S1): 23,592.15
• Next Support (S2): 23,373.45
• Major Support (S3): 23,264.10
• Immediate Resistance (R1): 23,920.20
• Next Resistance (R2): 24,029.55
• Major Resistance (R3): 24,248.25

Nifty closed at its previous session’s high, showing strong buying momentum. However, the negative GIFT Nifty indication suggests that some profit booking may emerge at the opening.

A sustained move above the pivot point of 23,701.50 may help the index recover towards 23,920.20. A decisive breakout above R1 may bring 24,029.55 into focus.

On the downside, a sustained move below 23,592.15 may increase selling pressure towards 23,373.45.

Bank Nifty Support and Resistance

Previous Close: 55,540.05
Previous High: 55,739.00
Previous Low: 55,174.10
Previous Change: +537.85 points (+0.98%)

Based on Tuesday’s High, Low and Close, the calculated Classic Pivot levels are:

• Pivot Point: 55,484.38
• Immediate Support (S1): 55,229.75
• Next Support (S2): 54,919.43
• Major Support (S3): 54,664.80
• Immediate Resistance (R1): 55,794.70
• Next Resistance (R2): 56,049.33
• Major Resistance (R3): 56,359.65

Bank Nifty gained 0.98% on Tuesday, but its performance remained below the Nifty 50. The index needs sustained buying above its pivot point to strengthen the bullish outlook.

A sustained move above 55,484.38 may support a recovery towards 55,794.70. A decisive breakout above R1 may open the way towards 56,049.33.

On the downside, a break below 55,229.75 may bring 54,919.43 into focus. Further weakness below this level could expose the major support at 54,664.80.

India VIX

India VIX: 15.72, up 0.22 points (+1.44%).

India VIX moved higher despite the market’s strong rally. This indicates that traders continue to expect some volatility.

Traders should avoid excessive leverage and maintain disciplined stop-losses, particularly after the recent multi-session rally.

Stocks in Focus Today

State Bank of India

SBI remains in focus as investors track its quarterly results and developments in the banking sector. Asset quality, credit growth, deposit mobilisation and net interest margins will be important indicators.

ITC

ITC remains on investors’ radar following its quarterly results. The company’s profitability, FMCG business performance and cigarette segment trends will be closely monitored.

National Aluminium Company (NALCO)

NALCO reported strong quarterly earnings, with consolidated net profit increasing approximately 28.3% year-on-year to ₹1,835 crore. Revenue also increased, keeping the stock in focus.

Marico

Marico reported a 29.2% increase in consolidated net profit to approximately ₹558 crore, while revenue grew around 13% to ₹3,897 crore.

Trident

Trident reported a 93.1% increase in consolidated net profit to approximately ₹175.6 crore. The company also approved a ₹4,650 crore capacity expansion and modernisation project.

Akums Drugs and Pharmaceuticals

Akums reported a sharp increase in quarterly profit, with consolidated net profit rising approximately 176.7% year-on-year to ₹112.9 crore. Revenue increased 31.9%.

Granules India

Granules India reported a 39.2% increase in quarterly net profit to approximately ₹181.8 crore, while revenue grew around 20.3%.

Lupin

Lupin received USFDA approval for its Amifampridine Tablets, 10 mg. The development is relevant for the company’s US generics business.

NBCC

NBCC signed an agreement with the Government of Bihar for four residential and commercial redevelopment projects worth approximately ₹2,000 crore.

Mainboard IPO Updates

M.K. Sons Fine Jewels IPO

• Issue Segment: Mainboard
• Issue Size: Approximately ₹275.40 crore.
• Listing Date: 4 November 2026.
• Event Today: Listing.

M.K. Sons Fine Jewels is scheduled to make its stock market debut today. Investors should monitor the listing price, opening trades and market response.

Bombay Coated & Special Steels IPO

• Issue Segment: Mainboard
• Issue Size: Approximately ₹183.06 crore.
• Allotment: Scheduled earlier on 3 November.
• Tentative Listing Date: 5 November 2026.

Investors should check the allotment and refund status ahead of the scheduled listing.

SME IPO Updates

Vedant Poly Fabs IPO

• Issue Period: 2–4 November 2026.
• Price Band: ₹88–₹94 per share.
• Issue Size: Approximately ₹56.68 crore.
• Closing Date: 4 November 2026.
• Allotment Date: 5 November 2026.
• Tentative Listing Date: 9 November 2026.

Vedant Poly Fabs is scheduled to close today. Investors should review the final subscription figures before the application window closes.

Antala Industries IPO

• Issue Period: 29 October–5 November 2026.
• Price Band: ₹62–₹66 per share.
• Issue Size: Approximately ₹23.33 crore.
• Closing Date: 5 November 2026.
• Event Today: Issue remains open.

The SME issue continues to accept applications. Investors should evaluate the company’s financials, valuation and risk factors before applying.

HGS (India) IPO

• Allotment Date: 4 November 2026.
• Tentative Listing Date: 6 November 2026.
• Issue Size: Approximately ₹34.56 crore.
• Price Band: ₹114–₹120 per share.

Applicants can check the allotment status today.

Johnsoncab Electricals IPO

• Allotment Date: 4 November 2026.
• Tentative Listing Date: 6 November 2026.
• Issue Size: Approximately ₹56.02 crore.
• Price Band: ₹190–₹200 per share.

Investors should check the allotment status and refund-related updates.

Maxwell Engineering Solutions IPO

• Allotment Date: 4 November 2026.
• Tentative Listing Date: 6 November 2026.
• Issue Size: Approximately ₹57.64 crore.
• Price Band: ₹150–₹158 per share.

The allotment status is expected today.

Vectras Enprocon IPO

• Allotment Date: 4 November 2026.
• Tentative Listing Date: 6 November 2026.
• Issue Size: Approximately ₹53.05 crore.
• Price Band: ₹99–₹105 per share.

Applicants can check the allotment status today.

Ajwa Projects IPO

• Segment: SME
• Listing Date: 4 November 2026.

The company is scheduled to list today. Investors should monitor its opening price and trading activity.

Carver Roboweld IPO

• Segment: SME
• Listing Date: 4 November 2026.

The issue is scheduled to make its market debut today.

IPO Calendar: Key Events Today

Company	Segment	Event on 4 November
Vedant Poly Fabs	SME	Closes
Antala Industries	SME	Remains Open
HGS (India)	SME	Allotment
Johnsoncab Electricals	SME	Allotment
Maxwell Engineering Solutions	SME	Allotment
Vectras Enprocon	SME	Allotment
M.K. Sons Fine Jewels	Mainboard	Listing
Ajwa Projects	SME	Listing
Carver Roboweld	SME	Listing

No fresh mainboard IPO is scheduled to open today.

Intraday Trading Strategy

GIFT Nifty indicates a cautious opening after Tuesday’s strong rally. Traders should avoid chasing the previous session’s momentum and wait for confirmation during the first 15–30 minutes.

Nifty 50 Intraday Strategy

• Bullish Setup: If Nifty sustains above the pivot point of 23,701.50, it may move towards R1 at 23,920.20. A decisive breakout can open the way towards 24,029.55.
• Neutral Setup: If the index trades around 23,701.50 without clear buying or selling pressure, wait for a confirmed directional move.
• Bearish Setup: A sustained fall below S1 at 23,592.15 may bring 23,373.45 into focus.
• Further Breakdown: A decisive move below 23,373.45 may expose 23,264.10.

Bank Nifty Intraday Strategy

• Bullish Setup: If Bank Nifty sustains above the pivot point of 55,484.38, it may move towards R1 at 55,794.70. A breakout above R1 may open the way towards 56,049.33.
• Neutral Setup: If the index remains around the pivot without confirmation, avoid taking an aggressive directional position.
• Bearish Setup: A sustained move below S1 at 55,229.75 may increase selling pressure towards 54,919.43.
• Further Breakdown: A decisive fall below 54,919.43 may bring S3 at 54,664.80 into focus.

Risk Management

• Avoid chasing the opening gap.
• Wait for a confirmed breakout or breakdown.
• Use strict stop-losses and controlled position sizing.
• Monitor banking stocks for confirmation before taking aggressive Bank Nifty positions.
• Avoid excessive leverage while India VIX remains elevated.

Final Market Verdict

Indian equities enter Wednesday after four consecutive sessions of gains, with Nifty closing at 23,810.85 and Bank Nifty at 55,540.05.

However, GIFT Nifty’s negative indication and weakness in several Asian markets suggest that the opening may be cautious. Continued foreign buying and relatively lower crude oil prices remain supportive factors, while global technology weakness and elevated volatility may limit immediate upside.

Nifty’s ability to hold above its pivot point of 23,701.50 and Bank Nifty’s ability to sustain above 55,484.38 will be important for determining the next intraday direction.

Overall View: Cautious to mildly positive; wait for support levels to hold and resistance breakouts to confirm before taking fresh positions.

One-Line Trader Note

After four consecutive sessions of gains, protect profits and avoid chasing the opening move; let Nifty and Bank Nifty confirm their next direction.

Disclaimer

This market outlook is intended for informational and educational purposes only. It is not investment advice or a recommendation to buy or sell any security. Market conditions can change rapidly. Investors and traders should conduct their own research and consult a qualified financial adviser before making investment decisions.