NIFTY OUTLOOK: 25,877.85 FII: -3,077.59 cr DII: 2,469.34 cr
As discussed yesterday, market behaviour remained on the expected lines during the session, as Nifty failed to surpass its previous resistance and slipped near our support level of 25,850, making a day low of 25,845.
A bearish candle has appeared on the daily chart of Nifty, indicating selling pressure near resistance zones. If selling intensifies further, a decisive breakdown below 25,827 may drag Nifty down to 25,775–25,724. If supply pressure increases, it may even test 25,673.
On the upside, 25,930–25,980 may act as immediate resistance. A breakout and sustained move above these levels could push Nifty higher towards 26,032–26,083.
BANK NIFTY OUTLOOK:
Spot: 58,031.10 PCR: 0.91 Max CE OI: 57,000 Max PE OI: 58,000
On 30th October 2025, Bank Nifty closed at 58,031.10, down 354.15 points (-0.61%). The total intraday movement was 332 points, with a high of 58,331.20 and a low of 57,999.20.
Technical View:
- Key support and resistance levels: 57,500 and 58,300 respectively.
- Intraday support and resistance: 57,939.80 and 58,122.40 respectively.
Intraday Breakout Strategy:
- Go long above 58,122.40 with a stop loss at 58,091.97 and target 58,213.70.
- Go short below 57,939.80 with a stop loss at 57,970.30 and target 57,848.50.
RSI: The Relative Strength Index for Bank Nifty stands at 67. (Below 30 is considered oversold and above 70 overbought.)
Bank nifty Day SMA Analysis:
Bank nifty is trading above 7 out of 8 SMA’s (10, 20, 30, 50, 100, 150, 200 Day).
Bank nifty is trading below 1 out of 8 SMA’s. (5 Day)
No candlestick Pattern was identified in bank nifty on daily chart
Macros:
1. Dollar index is @ 99.30
2. S&P 500 Vix is @ 16.73
3. Brent crude is @ 64.14
4. U.S. 10 years bond yield is @ 4.09
Note:
U.S. President Donald Trump said he had an “amazing, outstanding” meeting with China’s President Xi Jinping on Thursday, though he offered little clarity on how Washington and Beijing plan to ease trade tensions. He indicated that a trade deal could come “pretty soon,” citing only a few remaining hurdles. Trump also announced a 10% cut in fentanyl tariffs on Chinese imports, effective immediately.
In India’s context, trade talks with the U.S. are progressing well, and an announcement is expected post the Bihar elections. The U.S. granting India a six-month sanctions waiver to operate the Iranian port of Chabahar is a positive sign, strengthening India’s trade links with Afghanistan and Central Asia while bypassing Pakistan. The waiver, along with President Trump’s recent statements, signals a possible thaw in U.S.-India trade relations, which had strained after the doubling of tariffs on Indian imports.
Indian refiners, meanwhile, are reducing Russian oil imports following Washington’s sanctions on Rosneft and Lukoil.
Conclusion:
There are clear indications that a U.S.-India trade deal may soon materialize. The waiver for the Chabahar port underscores Trump’s intent to finalize the deal sooner rather than later. Once the Bihar elections conclude, an announcement could follow — which may drive Indian equities to outperform other Asian peers. Mark my words — a strong rally may be on the horizon.
Contributed By
Ashok Bhandari (RA)
SEBI Regd. No. INH00019549
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