Market Commentary (closing) for 29th October 2025 by Bajaj Broking
Below the Market Commentary (closing) for 29th October 2025 by Bajaj Broking
Market Closing Commentary
The benchmark indices ended on a firm and optimistic note, tracking positive cues from Asian markets and improved clarity on global trade trends. Hopes of progress in India–US trade talks further lifted sentiment, fueling broad-based buying across key sectors. All eyes will be on FOMC Fed Meeting scheduled tonight. At the close, the Sensex gained 368.97 points (0.44%) to settle at 84,997.13, while the Nifty 50 advanced 117.70 points (0.45%) to end at 26,053.90. On the sectoral front, the rally was led by Nifty Oil & Gas, Metal, and Media, which rose between 1–2%, reflecting broad-based participation and strong institutional interest. Most other sectors also traded in the green, though Nifty Auto witnessed mild profit booking. The broader market also joined the uptrend, with the Nifty Midcap index rising 0.64% and the Small cap index gaining 0.43%, underscoring sustained buying appetite beyond frontline stocks.
Nifty Outlook
The index formed a bullish candlestick pattern ahead of an important global event, marking a higher high and lower low, and closed above the past three days’ high — a clear sign that bulls are in control.
Over the last seven sessions, it has been moving within a broad range of 26,100–25,700. A sustained close above this range could trigger an upward move towards the previous all-time high and further towards 26,500 in the near term. On the downside, immediate support lies near 25,700, which aligns with the breakout zone followed by 25,540 which is the 21 days EMA — making it an important support area. Overall, the outlook remains positive, and any pullback towards this support is likely to attract fresh buying.
Bank Nifty Outlook
The index formed a bullish candlestick for the third straight session, signaling continued strength in the ongoing uptrend. It is now close to making a new all-time high, showing that buyers are firmly in control and every dip is being bought into. After an early sell-off, the index recovered smartly and closed with strong gains. Going ahead, a decisive move above last week’s high of 58,577 would confirm a breakout continuation, paving the way for a rally towards 59,000 and 59,300, which correspond to the 138.2% Fibonacci projection of the recent correction (57,628–53,561). However, failure to clear this level may result in range-bound movement between 58,600 and 57,300 in the near term. On the downside, immediate support is seen around 57,300–57,500, aligning with the previous breakout zone, while a stronger support base lies near 56,800–56,500. Overall, the outlook remains positive, and any pullbacks should be viewed as buying opportunities within these support areas.
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