Trade Setup – NSE NIFTY & MANAPPURAM

NSE NIFTY SPOT – Wave Outlook For November 2025

NSE Nifty seems to be completing Wave (4) near the 1.618 Fibonacci extension level around 25,480 – 25,500, showing signs of exhaustion within a falling channel. The RSI is forming a small positive divergence, which means selling momentum is slowing down and a bounce could be near. Overall, the market has been struggling to cross the previous day’s highs, keeping the tone cautious as sellers have been active on every rise.

After a fall, if Nifty holds above 25,480 and breaks out of the channel with a sustained move above 25,664, it can mark the start of Wave (5), targeting 25,750 – 26,000+. However, if it fails to hold the support and slips below 25,450, the weakness may extend a bit more before a proper reversal. In short, a 15-minute close above 25,664 will signal short-term strength, while a fall below 25,480 will keep bears in control.

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NSE MANAPPURAM – Sharp Bounce Targets ₹285+

MANAPPURAM bounced back strongly from 265 after a recent correction from 305. The stock is still above its 200-day EMA, showing long-term strength. RSI is recovering from oversold levels, and volume has increased, hinting at fresh buying. Overall, it looks like buyers are returning at lower levels.

If price sustains above 270.5, buyers can long for the following targets: 276.2 – 279.8 – 284.1+.

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