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Below The Quote on Morning Outlook from Amruta Shinde, Technical & Derivative Analyst at Choice Equity Broking Private Limited

"The Indian equity markets are expected to open on a flat to positive note today, as indicated by the GIFT Nifty, which was trading around the 25,946 mark in early trades, reflecting a gain of 131 points. This points to a cautiously optimistic sentiment, even as mixed global cues and the absence of strong domestic triggers keep traders vigilant. Investors are likely to track global market trends, crude oil price movements, and institutional flows for near-term direction.

The Nifty index ended the week on a flat note, gaining 85 points after a strong upward move earlier in the week. On the weekly timeframe, the index witnessed a correction of nearly 311 points from its high, indicating heightened volatility and profit booking at higher levels. A breakdown below 25,670 could trigger weakness toward 25,500–25,400, while on the upside, resistance is placed at 25,950, followed by 26,000 and 26,100. Sustaining above these resistance levels will be crucial for the index to resume its upward trajectory.

The Bank Nifty also ended the week on a flat note, closing at 57,699 after hitting a new lifetime high during a highly volatile week. If selling pressure re-emerges and the index slips below 57,400, a correction toward 56,900 and 56,700 cannot be ruled out. On the upside, immediate resistance is seen at 58,000, followed by 58,300 and 58,700. A decisive move above 58,700 would likely reaffirm bullish momentum and open the path for fresh highs in the near term.

On the institutional front, Foreign Institutional Investors (FIIs) turned net buyers, purchasing equities worth Rs.621.51 crore on October 24, while Domestic Institutional Investors (DIIs) also provided strong support, buying equities worth Rs.173.13 crore on the same day.

Given the heightened volatility and mixed technical setup, traders are advised to maintain a cautious “buy-on-dips” approach, particularly when trading with leverage. Booking partial profits during rallies and keeping tight trailing stop-losses will be essential to manage risk effectively. Fresh long positions should be considered only if the Nifty sustains above the 26,200 mark. While the broader market undertone remains cautiously bullish, close monitoring of key technical levels and global developments will be crucial for trading decisions in the sessions ahead."

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