Nifty Outlook: 25,936.20 FII: Rs.10,339.80 cr DII: Rs.1,081.55 cr
As discussed yesterday, market behaviour remained on expected lines as Nifty continued its uptrend, rallying up to 26,041 but failing to sustain there, slipping to a day low near our support level of 25,810.
A long-legged Doji appeared near the resistance on the daily chart, indicating that despite high volatility and initial optimism, the market ended almost unchanged. This suggests a loss of direction and significant indecision among traders.
For the upside, a move above 25,989 could see bulls attempting to regain control, with Nifty possibly rising towards 26,042–26,095. If buying strengthens further, it may test 26,147.
However, as the candle has appeared near the resistance and the peak of the rally, it may indicate buyer exhaustion, favouring the bears. A decisive breakdown below 25,883 could drag Nifty down to 25,830–25,777. If selling pressure intensifies, it may even test 25,725.
Bank Nifty Outlook:
Spot: 58,214.10 PCR: 1.01 Max CE OI: 58,200 Max PE OI: 58,200
On 28th October 2025, Bank Nifty closed at 58,214.10, up by 99.85 points (+0.17%). The index moved 543.45 points during the session, making a high of 58,313.80 and a low of 57,770.35.
Technical View:
- Key support and resistance levels are 57,500 and 58,300 respectively.
- Intraday support and resistance are at 58,065 and 58,364 respectively.
Intraday Technical Strategy:
- Go long above 58,364 with a stop loss at 58,314 and target 58,513.
- Go short below 58,065 with a stop loss at 58,114 and target 57,915.
RSI: The Relative Strength Index (RSI) for Bank Nifty stands at 72.9. Readings below 30 indicate oversold conditions, while above 70 indicate overbought 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 on daily chart
Macros
1. Dollar index is @ 98.75
2. S&P 500 is @ 16.37 ( -5.38% )
3. Brent crude is @ 65.20 4. U.S. 10 years bond yield is @ 3.997
Note: Note: The United States signed a flurry of deals on trade and critical minerals with four Southeast Asian partners on Sunday, looking to address trade imbalances and diversify supply chains amid tighter export curbs on rare earths by China.
India will not accept limits on its trading choices or rush to sign agreements, Trade Minister Piyush Goyal said on Friday, even as a senior government official said a bilateral trade deal with Washington was “very near”.
“India will not sign any trade deal in a hurry,” Goyal said during a speech at the Berlin Global Dialogue, referring to European Union and the U.S. concerns over India’s continued purchases of Russian oil.
New Delhi has been resisting U.S. demands to allow market access for American grains and dairy, citing the need to protect the livelihoods of small farmers. But India could consider allowing some corn and soymeal imports, trade and industry sources said.
After the United States sanctioned Russia’s top oil producers on Wednesday, Indian refiners – major buyers of cheap Russian oil – said they are set to sharply cut imports, potentially clearing a key hurdle to a U.S.-India trade deal.
Contributed by
Ashok bhandari : INH000019549
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