Technical Forecast 10th November 2025 by Vaishali Parekh, Vice President - Technical Research at PL Capital
Below the Technical Forecast 10th November 2025 by Vaishali Parekh, Vice President - Technical Research at PL Capital
Forecast
NIFTY / SENSEX
Nifty after witnessing a weak morning session, recovered strongly after hitting the low near the important 50EMA at 25320 zone to overall improve the sentiment and bias expecting to carry on with the same optimistic approach in the coming sessions. The index would need to move past the 25750 zone to improve the bias and establish conviction for further rise having targets of 26100 and 26500 levels expected. With the broader markets also recovering significantly and with support maintained near the 25300 level we expect further gains for the index. Sensex after witnessing a short period of correction has shown signs of taking support near the important 50EMA at 82700 level and with a recovery visible has slightly improved the bias to anticipate for further continuation of the upward move in the coming sessions. The index would need to move past the near-term resistance of 84000 zone to overall improve the bias and expect for further rise with conviction. The index would have the important near-term support at 100 period MA at 82100 level.. The support for the day is seen at 25350 levels, while the resistance is seen at 25700 levels.
BANKNIFTY / BANKEX
BankNifty indicated a strong bounce back from 57160 zone to close above the 57800-level improving the bias and along with the PSU Banks showing active participation, we expect further follow through of the index with 58500 level as the near-term. As said earlier, a decisive breach above the tough resistance zone of 58500 level is much needed to expect for fresh upward move in the coming days having further higher target of 60000 level, with downside support positioned near the 50EMA at 56500 level which needs to be sustained. Bankex witnessed a strong bounce back from the low made near 64350 zone to slightly ease out the sentiment and closing above the 65000 zone has improved the bias to some extent to anticipate for further rise in the coming sessions. The near-term support would be maintained near the 63700 level which needs to be sustained and, on the upside, a decisive breach above the 65700 zone shall once again strengthen the bias to trigger for fresh upward move in the coming days. BankNifty would have the daily range of 57500- 58500 levels.
Nifty / BankNifty / Sensex / Bankex - Daily Technical Levels
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