Sensex Gains Amid Foreign Buying; Key Levels for Traders on Expiry Day

The Indian stock market witnessed a significant rally on November 12, 2026, with the Sensex climbing 239 points to close at 82,118.45, while the Nifty 50 gained 57 points to reach 25,331.85. This surge was largely attributed to a revival in foreign institutional investor (FII) inflows, a decline in crude oil prices, and positive global cues that bolstered investor sentiment. As the market approaches the monthly derivatives expiry, traders are keenly observing key technical levels to strategize their positions.

On November 11, foreign institutional investors returned as net buyers, purchasing equities worth ₹12,563 crore, marking a significant turnaround in market dynamics. In contrast, domestic institutional investors (DIIs) continued their selling streak, recording net sales of ₹8,434 crore over nine consecutive sessions. This shift in institutional flows has been pivotal in driving the recent market performance.

V K Vijayakumar, Chief Investment Strategist at Geojit Investments Limited, noted that the Nifty's impressive rally of 9.55% in just seven trading sessions in November was primarily fueled by aggressive buying from FIIs. "The tug of war between the FIIs and DIIs has reversed, with FIIs now taking the lead as buyers, while DIIs are consistently selling," he explained. This change in sentiment is crucial as it indicates a potential shift in market momentum.

The decline in crude oil prices has also played a significant role in shaping market sentiment. Brent crude traded near $92 a barrel, reflecting a 1.4% increase on Wednesday, while West Texas Intermediate (WTI) hovered around $86. The easing of crude prices is attributed to rising production in the Middle East and a decrease in hostilities between Iran and the US. Although Brent has seen a year-to-date increase of over 50%, the recent reversal in November suggests a more stable supply outlook, which is welcomed by investors.

As the derivatives expiry approaches, traders are closely monitoring key technical levels that could dictate market movements. The Sensex is facing resistance at the 82,400–82,500 range, while the 81,300–81,500 zone serves as a crucial support area. According to Sachin Gupta, Vice President – Technical Research at Choice Equity Broking, a sustained move above 82,500 could trigger further recovery, while maintaining the support zone is essential for preserving a positive near-term outlook.

The broader trading range is established between 81,300 and 82,500, with traders advised to watch for signs of profit booking as the index nears immediate resistance. The formation of a doji candle during the first hour of trading indicated indecision at higher levels, suggesting that the market could experience volatility as traders adjust their positions ahead of expiry.

Expiry day often brings heightened volatility, particularly around significant support and resistance levels. Traders are advised to closely monitor price action and derivatives positioning rather than relying solely on broader market trends. The unwinding of positions and adjustments by traders can lead to sharp movements in the underlying index, making it imperative for market participants to stay vigilant.

The Relative Strength Index (RSI) currently stands at 81.34, indicating that the market is in overbought territory. This could signal a potential correction if profit booking occurs. Traders should be prepared for possible fluctuations and adjust their strategies accordingly.

Looking ahead,, the Indian stock market is experiencing a robust rally driven by foreign buying and favorable global conditions. However, as traders navigate the complexities of derivatives expiry, understanding key support and resistance levels will be critical in formulating effective trading strategies. With the Sensex showing a bullish bias, the coming sessions will be pivotal in determining whether the upward momentum can be sustained or if profit booking will take precedence. Market participants are encouraged to remain alert and responsive to market signals as they position themselves for the future.