NIFTY OUTLOOK: 25,891.40 FII: -1,165.94 cr DII: 3,893.73 cr
As discussed yesterday, market behaviour remained on the expected lines during the day. Strong buying momentum initially lifted Nifty to an intraday high of 26,104.2, but it failed to sustain at higher levels and slipped towards the day’s low of 25,862.45.
A long bearish candle has appeared on the daily chart, suggesting that prices have reached a key resistance zone after a sharp rally. This indicates a change in sentiment from bullish to bearish and rising selling pressure at higher levels.
If selling persists, a decisive breakdown below 25,840 could drag Nifty down to 25,789–25,737. Further supply pressure could extend the decline to 25,687.
However, yesterday’s close above Tuesday’s session still indicates continuation of the broader uptrend. Hence, above 25,943, Nifty may attempt a recovery toward 25,995–26,045, and if demand strengthens, it could test 26,096.
BANK NIFTY OUTLOOK:
Spot: 58,078.05 PCR: 1.10 Max CE OI: 58,500 Max PE OI: 57,000
On 23rd October 2025, Bank Nifty closed at 58,078.05, up by 22.80 points (0.09%). The index witnessed a total intraday movement of 626.05 points, marking a high of 58,577.50 and a low of 57,951.45.
Technical view:
Important support and resistance level of Bank nifty are 57250 and 58600 respectively.
Intraday Support and resistance of Bank nifty are 57905.90 and 58250.20 respectively.
Intraday Breakout Strategy:
Go long above 58,250.20 with SL 58,192 and target 58,422.
Go short below 57,905 with SL 57,963.25 and target 57,733.
The RSI for Bank Nifty stands at 76.60, indicating an overbought zone (above 70), which suggests that some profit booking may emerge at higher levels.
Bank nifty Day SMA Analysis:
Bank nifty is trading above 8 out of 8 SMA’s (5, 10, 20, 30, 50, 100, 150, 200 Day).
Bank nifty is trading below 0 out of 8 SMA’s.
No candlestick Pattern was identified in bank nifty.
Contributed by
Ashok bhandari : INH000019549
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