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Diwali Trading Rally: Can the 8-Year Streak Continue?
7 Nov
Summary
- Indian stock market set for ceremonial Muhurat Trading on November 8, 2026.
- Key indices Nifty, Bank Nifty, and Sensex have risen for eight straight years.
- Market sentiment is positive, with supportive global factors and key support levels identified.
The Indian stock market is poised for the ceremonial Muhurat Trading session on November 8, 2026. For the past eight consecutive years, benchmark indices such as the Nifty, Bank Nifty, and Sensex have concluded this special Diwali trading period on a higher note.
Market observers are keenly anticipating whether this strong tradition will persist. Historically, from 2006 to 2025, the Nifty 50 index has shown a higher close on most Muhurat sessions, with the Sensex also demonstrating a similar positive trend. This decadal strike rate stands at 80% for both indices.
Analysts suggest a generally positive outlook for the upcoming session, with supportive global market sentiment. Factors like Brent Crude slipping below $100 per barrel and weakness in the US dollar following US midterm election results are seen as positive triggers. However, some expect potential profit booking or consolidation after recent rallies.
Key technical levels are being watched closely. Immediate support for the Nifty 50 is seen around 24,800-24,850, with resistance at 25,130-25,200. A sustained trade above 25,200 could signal continued bullish momentum into the following week.
