NIFTY OUTLOOK: 25763.35 FII: -1883.78 cr DII: 3516.36 cr
As discussed yesterday, market behaviour remained on expected lines during the day. Nifty respected its opening bullish gap of 20th October 2025 and rallied up to 25803 after surpassing 25775, closing near the same level at 25763.35.
A small bullish candle formed on the daily chart suggests bulls are attempting to defend the gap created on 20th October. If follow-through buying emerges, a decisive breakout above 25814 may take Nifty towards 25865–25916. Further demand could push it to test 25967.
On the downside, 25713–25661 may act as immediate support. A sustained break below these levels could drag Nifty to 25611–25560.
BANK NIFTY OUTLOOK:
SPOT: 58101.45 PCR: 0.92 Max CE OI: 58000 Max PE OI: 58000
On 3rd November 2025, Bank Nifty closed at 58101.45, up 325.10 points (0.56%). The index moved 529.15 points during the session, making a high of 58247.55 and a low of 57718.40.
Technical View:
Key support and resistance levels are 57550 and 58600 respectively.
Intraday support and resistance are 57955 and 58250 respectively.
Intraday Strategy:
- Go long above 58250 with stop loss 58198 and target 58392.
- Go short below 57955 with stop loss 58004 and target 57810.
The RSI for Bank Nifty stands at 65.60; 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)
One bullish candlestick Pattern was identified in bank nifty on daily chart
- Belt Hold Uptrend
Macros:
1. Dollar index is @ 99.68.
2. S&P 500 is @ 17
3. Crude is @ 65.05
4. 10 years bond yield is @ 4.111
Note: A new geopolitical flashpoint appears to be emerging. Reuters reported that U.S. military construction activity in Puerto Rico and the Virgin Islands indicates preparations that could support operations inside Venezuela. Venezuelan President Nicolas Maduro has repeatedly accused the U.S. of attempting to remove him from power. Significant infrastructure upgrades are underway at the former Roosevelt Roads base, with improvements enabling use by fighter jets and cargo planes.
Globally, major manufacturing economies continued to struggle in October as weak U.S. demand and tariffs imposed by President Donald Trump weighed on factory orders. U.S. manufacturing activity contracted for the eighth consecutive month, with new orders declining and supply chains facing pressure.
In contrast, India’s manufacturing activity gained momentum in October, supported by strong domestic demand that offset slower export growth. The HSBC India Manufacturing PMI, compiled by S&P Global, rose to 59.2 in October from 57.7 in September, surpassing the preliminary estimate of 58.4. Optimism remained strong, supported by expectations of GST reforms and healthy demand.
Conclusion: Global data indicate contrasting trends—while China’s growth momentum is cooling, India’s economy continues to expand at a faster pace. A potential U.S.–China trade deal could ease global export slowdowns, and a subsequent U.S.–India trade agreement would further accelerate economic activity. Supportive GST and tax reforms, along with accommodative RBI policies, are expected to sustain liquidity and demand.
In this scenario, Nifty could move towards 26998 in the coming months, with the potential to rise by nearly 10% over the next 1–1.5 years. The combination of strong domestic demand, improving manufacturing momentum, and renewed foreign inflows could mark the beginning of a fresh bull cycle for Indian equities.
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