Market Outlook: Technical Call Of The Day & Top 5 Stocks In Focus For December 4, 2025

The Nifty 50 extended its losing streak for the fourth straight session, staying below the 10-day EMA while managing to hold the 20-day EMA (25,970) and the Bollinger midline (25,940), aided by a late-session rebound on December 3. A decisive breach of these supports could strengthen bearish momentum and drag the index toward 25,840—the low of Wednesday’s long candle—with a deeper decline toward the 50-day EMA possible thereafter. On the upside, resistance is expected near 26,155, followed by 26,300.

Throughout the day, the index traded weak and slipped below the key 26,000 mark, ending at 25,986, down 46 points. It formed a bearish candle resembling a Doji with shadows on both sides, reflecting market indecision. Momentum indicators also remained soft: RSI slipped to 53.56, while the MACD stayed in a bearish crossover, with a slightly widening negative histogram.

Despite the pressure, holding above the 20-day EMA and the prior swing low of 25,842 keeps near-term bullish hopes intact. However, the 26,150–26,200 band is expected to pose stiff resistance. Options data indicated a near-term trading band of 25,500–26,500 for the Nifty. The highest Call OI was at the 26,000 strike, followed by 26,500 and 26,200, while Put OI was heaviest at 25,500, 26,000 and 25,900. Fresh Put writing was concentrated at the 25,900, 25,500, and 25,950 strikes, whereas Call writers were active at 26,000, 26,500 and 26,100.

Bank Nifty outperformed, defending both the 59,000 level and the 20-day EMA. The index gained 74 points to settle at 59,348 and formed a bullish candle with a pronounced lower shadow, signalling buying interest at intraday dips. It remains above all major moving averages, though the RSI at 62.62 still reflects a bearish crossover and the MACD has turned negative with the histogram below zero, suggesting continued consolidation. The 59,400–59,500 zone is expected to act as a key resistance area; a move above 59,500 could lift the index toward 59,800 and 60,100, while support lies between 59,000 and 58,900.

India VIX stayed muted at 11.21, slipping 0.13 percent and remaining below all major moving averages, offering comfort to bullish participants. Sectorally, IT, media, private banks and telecom gained 0.2–0.6 percent, whereas PSU banks dropped 3% and oil & gas, metals, power, PSU, capital goods and consumer durables fell 0.5–1.5%. Among the major Nifty laggards were Max Healthcare, Shriram Finance, Bharat Electronics, InterGlobe Aviation and Tata Consumer, while Wipro, Hindalco, TCS, Axis Bank and ICICI Bank featured among the top gainers.

AEGISLOG - TECHNICAL CALL OF THE DAY  

Aegis Logistics is trading comfortably above its 200-EMA levels on the daily chart indicating strength over the long run though it is just shy of to trade above its 40 and 100 EMA levels. The stock has been trading sideways with clear uptrend visible via trend line as reflected in the chart. The super trend indicator is also positive supported by positive RSI divergence and volume activity reflecting bullish implications.        

BUY AEGISLOG CMP 769.30 SL 735.40 TGT 820.00

Top 5 stocks to watch out for 4th Dec 2025

RailTel:

• RailTel Corporation of India Ltd. has received the work order from Mumbai Metropolitan Region Development Authority as Selection of System Integrator (SI) for Design, Development and Implementation of Regional Information System for Mumbai Metropolitan Region and Urban Observatory at MMRDA, Mumbai amounting to Rs 48.77 crore (Excluding Tax). The time period for completion of the said order is 28th December 2027. 

Godawari Power & Ispat:

• The company has informed exchanges that "Consent to Operate" additional 2 MTPA Iron Ore Pellet Plant has been received from the Chhattisgarh Environment Conservation Board. The company has lighted up the said pellet plant after receiving the consent and the Commercial Production is expected within a week's time. After commencing the commercial operations, the same will be intimated to the exchanges. With the operation of this additional iron ore pellet plant, the pellet manufacturing capacity stands increased from 2.7 MTPA to 4.7 MTPA.

Indigo: 

• IndiGo, India’s largest airline, is grappling with a major operational meltdown, with its on-time performance crashing to 35% on Tuesday. Flight delays and cancellations continued into Wednesday, with nearly 200 flights disrupted across key airports including Delhi, Mumbai, Bengaluru and Hyderabad. 

• The chaos stems from an acute crew shortage triggered by the rollout of new (Flight Duty Time Limitation) FDTL norms mandating longer rest hours. Many aircraft were grounded due to lack of cabin crew, while several flights saw delays of up to eight hours. Given IndiGo’s 60% domestic market share, the disruption has created widespread turbulence across the aviation network.

 Petronet LNG:

• Oil and Natural Gas Corporation (ONGC) Limited and Petronet LNG Limited (PLL) have entered into a 15-Years Ethane Unloading, Storage and Handling (USH) Services Binding Term Sheet (commencing between October – December 2028 and ending on 15th anniversary of the commencement date).

• PLL is developing ethane unloading, storage and handling (USH) facilities with an ethane storage tank capacity of approx. 1,70,000 Cubic Meters at Dahej, Gujarat. PLL is also constructing a unique third jetty at Dahej which will be capable of handling Ethane and Propane in addition to LNG. 

Pine Labs:  

• Pine Labs reported a strong Q2FY26, with revenue rising 18% YoY to Rs 650 crore and Adjusted EBITDA surging 62% YoY to Rs 122 crore, expanding margins to 19%. The company delivered operating cash flow of Rs 241 crore. International business contributed 17% of quarterly revenue, up from 15% a year ago. Pine Labs also processed a record quarterly GTV of over $48 billion and crossed 1 million merchants on its platform. Interestingly, the company returned to profitability with Rs 6 crore as compared to loss of Rs 32 crore last year in the same quarter on account of lower depreciation and ESOP costs.