Technical Forecast 17th October 2025 by Vaishali Parekh, Vice President - Technical Research at PL Capital
Below the Technical Forecast 17th October 2025 by Vaishali Parekh, Vice President - Technical Research at PL Capital
Forecast
NIFTY / SENSEX
Nifty continued with the strong, robust move further ahead, indicating a breakout above the resistance zone of the 25500 level, with bias gaining strength, expecting a further upward move in the coming days. With the undertone getting strong, the index would have the next target of the 27800 zone, above which the trend would turn bullish to retest the previous peak zone of the 26300 level with the important support positioned at the 25000 level from here on. Sensex indicated a strong bullish candle on the daily chart. The overall sentiment of the market players closed on a strong note near the 83500 level to anticipate a further rise in the coming days. The index has gained strength, with most of the frontline stocks indicating a positive revival to expect further gains, and once the recent peak of the 84000 zone is breached decisively, one can expect fresh targets of the 86000 and 86500 levels in the coming days. The support for the day is seen at 25450 levels, while the resistance is seen at 25800 levels
BANKNIFTY / BANKEX
Bank Nifty has indicated a significant positive move with bias and sentiment turning strong with anticipation of further rise in the coming days, having the result outcome of the major frontline banking stocks like HDFC Bank and ICICI Bank being released soon. The index's next target of the 57700 level is in close vicinity, and thereafter, with sustained strength, it can carry on with the upward move for the higher target of the 59700 level, with the 50EMA at the 55600 zone positioned as the important support. Bankex gave a strong breakout above the previous all-time high level of the 64684 zone with a bullish candle formation on the daily chart to enter a new territory, and we can expect further upward movement in the coming days. The index has overall strengthened the trend further, with most of the PSU banks & financial stocks also beginning to participate in the rally to support the benchmark index, and we can anticipate fresh upside targets of 66200 and 67800 levels in the coming days. BankNifty would have the daily range of 57000-58000 levels.
Nifty / BankNifty / Sensex / Bankex - Daily Technical Levels
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