Technical Forecast 19th November 2025 by Vaishali Parekh, Vice President - Technical Research at PL Capital
Below the Technical Forecast 19th November 2025 by Vaishali Parekh, Vice President - Technical Research at PL Capital
Forecast
NIFTY / SENSEX
Nifty witnessed a breather near the psychological level of the 26000 zone, and amid some volatility, witnessed some profit booking to close near the 25900 level with the bias maintained positive and with the undertone overall maintained strong. We can anticipate a turnaround after a short consolidation or dip in the coming sessions. The index would have the important near-term support at the 25700 level, which, as we have been mentioning earlier, needs to be sustained to keep the overall trend intact, and on the upside, we can expect the next targets of 26300 and 26700 levels to be anticipated. Sensex has been finding resistance near the 85050 zone and has slipped down with profit booking witnessed to close near the 84673 zone for the session with bias and sentiment still maintained intact. The index would have the important 20DMA at the 84240 zone as the immediate support for the coming sessions, which needs to be sustained to maintain the optimistic approach, and as mentioned earlier, a decisive breach above the important hurdle at the 85300 zone is necessary to establish conviction and clarity for further rise in the coming days to carry on with the ongoing uptrend. The support for the day is seen at 25750 levels, while the resistance is seen at 26100 levels.
BANKNIFTY / BANKEX
Bank Nifty halted near the 59100 zone after the strong breakout witnessed in the previous session, and with bias maintained positive, it has further scope for an upward move in the coming sessions, with near-term support positioned near the 58500 level, which needs to be sustained. The index would have the important and major support positioned near the 50EMA at the 57000 level, as mentioned earlier, and on the upside, once stability is confirmed, one can expect higher targets of 60500 and 63000 levels in the coming days. Bankex gained much strength during the session, decisively breaching above the 1.28% retracement level of the 66050 zone, and as compared to Sensex, it has outperformed and has much upside potential to carry on with the positive move further ahead towards the 1.61% retracement level of 67700. BankNifty would have the daily range of 58500-59500 levels.
Please refer disclaimer at https://www.plindia.com/disclaimer/
SEBI Registration No. INH000000271
