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Below the Technical Forecast 08th October 2025 by Vaishali Parekh, Vice President - Technical Research at PL Capital

Forecast

NIFTY / SENSEX

Nifty, continuing with the upward move witnessed a halt near the 25200 zone where the index found resistance and witnessed some profit booking amid some volatility during the session with overall bias and sentiment maintained with a positive approach. The index would need to sustain above the 25000 zone and thereafter, a decisive breach above the important hurdle at 25300 zone shall establish conviction and clarity for further rise in the coming days to carry on with the ongoing uptrend. Sensex has halted the upward journey finding resistance near 82300 zone and with some profit booking witnessed has slipped down to end near the 81900 level with bias and sentiment maintained intact. The 50EMA at 81350 level would be the near term support and can further ahead can anticipate for further rise in the coming days with next target expected till 83000 zone. The support for the day is seen at 25000 levels, while the resistance is seen at 25300 levels.

BANKNIFTY / BANKEX

BankNifty, having an optimistic view resisted near the 56500 zone during the session witnessing some erosion but has maintained the bias intact with further upward move anticipated in the coming days. The neckline zone of the Inverted Head and Shoulder pattern at 55700 level shall be positioned as the important support from current level which needs to be sustained and on the upside a positive move till 57700 zone can be anticipated with the overall sentiment maintained positive. Bankex after witnessing the robust move in the last 3 sessions, resisted near the 63650 zone with profit booking dragging the index down to close marginally in the red. The index would have the near term support at the neckline of the Inverted Head and Shoulder pattern at 62700 level which needs to sustain to maintain the overall bias intact. The near term upside target of 64700 level is still open above which shall trigger for fresh upward move in the coming days. BankNifty would have the daily range of 55800-56800 levels.

Nifty / BankNifty / Sensex / Bankex - Daily Technical Levels

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