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Below the Quote on Weekly Market Wrap 31th October 2025 by Amol Athawale, VP-Technical Research, Kotak Securities

In the last week, the benchmark indices witnessed profit booking at higher levels. The Nifty ended 0.24 percent lower, while the Sensex was down by 273 points. Among sectors, the PSU Bank index gained the most, rallying 4.66 percent, whereas the Capital Market index was the top loser, shedding 1.83 percent. During the week, the market once again faced resistance near 26,100/85300 and reversed sharply. Technically, on daily and intraday charts, it has formed a double top-like pattern, and on weekly charts, a shooting star like formation has appeared, indicating further weakness.

However, the short-term market outlook remains positive. We believe that the 25,700–25,650/83900-83700 zone will act as a crucial support level for traders, while 26,000/85000 and 26,100/85300 could serve as key resistance areas for the bulls. A successful breakout above 26,100/85300 could push the market toward 26,250–26,350/85800-86100. Conversely, if the market falls below 25,650/83700, sentiment could turn negative, potentially slipping to 25,500–25,450/83300-83100.