Technical Forecast 06 Nov 2025 by Vaishali Parekh, Vice President - Technical Research at PL Capital
Below the Technical Forecast 06 Nov 2025 by Vaishali Parekh, Vice President - Technical Research at PL Capital
Forecast
NIFTY / SENSEX
Nifty, after witnessing two sessions of profit booking, indicated a revival from the 25650 zone to touch the 25800 level during the intraday session, improving the bias, with the broader markets also showing active participation to support the index, expecting further upward movement in the coming sessions. With the overall trend still maintained positive, the index can improve further till the 26100 zone, above which a decisive move can further trigger fresh upward movement in the coming days with the important support positioned near the 25400 zone, as mentioned earlier. Sensex witnessed a session of consolidation near the 83500-84000 zone, and with the bias maintained intact, we can expect a further rise once a decisive breach above the 84500 zone is confirmed, with upside targets of 85300 and 86000 levels achievable in the coming days. As mentioned earlier, on the downside, the 83200 zone is positioned as the important and strong support level that needs to be sustained to keep the overall bias intact. The support for the day is seen at 25600 levels, while the resistance is seen at 26000 levels.
BANKNIFTY / BANKEX
Bank Nifty witnessed a decent recovery once again to continue with the range-bound movement between the 57500 and 58500 zones, and only a decisive breach above the 58500 zone, when confirmed, can we expect a fresh upward move for the next target of the 60000 level in the coming days, with the crucial nearterm support positioned near the 57500 zone, which needs to be sustained to keep the overall bias intact. Bankex has indicated a bullish candle formation with bias improving as most of the frontline banking stocks have shown positive signs for further upward movement, accompanied by most of the PSU banks, which are looking good. The index needs to breach above the 65800 zone decisively, as mentioned earlier, to trigger a fresh upward move, having targets of 67700 and 68500 levels possible in the coming days. BankNifty would have the daily range of 57700-58600 levels.
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