NIFTY OUTLOOK: 25722.10 FII: -6769.34 cr DII: 7068.44 cr
As discussed in the previous report dated 27th October 2025, market behaviour remained on expected lines during the week as the interrupted uptrend faced resistance around 26045, from where Nifty slipped to a weekly low of 25711.
Further, an inverse hammer candle appeared after a gravestone doji on the weekly chart of Nifty. These two consecutive formations near resistance indicate that buying pressure has likely been exhausted, and sellers have overtaken buyers. This has shifted sentiment from bullish to bearish. Any continuation of this southward move may find support around 25600–25480, and if these supports fail to hold, Nifty may slide further towards 25358–25237.
Nifty has shown range-bound movement over the past two weeks. The failure to sustain higher levels on two consecutive attempts suggests 25965–26087 may act as a major supply zone. A decisive move above this zone could resume the uptrend and push Nifty towards 26207. An immediate resistance lies at 25843, between the broader range of 25722.10–25965.
BANK NIFTY OUTLOOK
SPOT: 57776.35 PCR: 0.85 Max CE OI: 57000 Max PE OI: 58000
On 31st October 2025, Bank Nifty closed at 57776.35 (-254.75 / -0.44%). The total movement in the index was 598 points during the session. It made a high of 58254.95 and a low of 57656.95.
Technical View:
- Important support: 57550 Resistance: 58000
- Intraday support: 57600 Resistance: 57940
Intraday Technical Strategy:
- Go long above 58000 with stop loss 57926 and target 58225
- Go short below 57550 with stop loss 57626.50 and target 57326
The Relative Strength Index (RSI) for the Nifty Bank index is 62.30 — readings below 30 indicate oversold conditions, and above 70 indicate overbought conditions.
Bank nifty Day SMA Analysis:
Bank nifty is trading above 6 out of 8 SMA’s (20, 30, 50, 100, 150, 200 Day).
Bank nifty is trading below 2 out of 8 SMA’s. (5 ,10 Day)
No candlestick Pattern was identified in bank nifty on daily chart
Macros:
1. Dollar index is @ 99.63
2. S&P 500 vix is @ 17.44
3. Brent crude is @ 64.77
4. US 10 years bond yield is @ 4.101
Note:
The White House on Saturday released details of the agreement reached between U.S. President Donald Trump and Chinese President Xi Jinping to de-escalate the ongoing trade war. The deal includes U.S. tariff reductions and a pause in Beijing’s new restrictions on rare earth minerals and magnets. It also resumes Chinese purchases of American soybeans, averting Trump’s proposed 100% tariff on Chinese goods and extending the trade truce between the world’s two largest economies for about a year.
As far as India is concerned, the country collected Rs.1.96 trillion in gross GST during October, about 5% higher y-o-y, reflecting a strong festive season and higher demand. Net collections stood at Rs.1.69 trillion, up 0.6% from October 2024. The government noted that the full impact of recent tax cuts on state revenues will become clear next month as collections are realised with a lag. The higher GST inflow is seen as a positive indicator of improving consumption and compliance trends.
Contributed By
Ashok Bhandari (RA) SEBI Regd. No. INH00019549
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