Technical Forecast 20th October 2025 by Vaishali Parekh, Vice President - Technical Research at PL Capital
Below the Technical Forecast 20th October 2025 by Vaishali Parekh, Vice President - Technical Research at PL Capital
Forecast
NIFTY / SENSEX
Nifty extended the gains further, moving past the important 25700 level, with the frontline stocks like M&M, ICICI Bank, ITC, RIL, and HDFC Bank pulling the index to hit almost the 25800-zone strength, but witnessed some profit booking in the second half to shed some gains, maintaining the overall strong bias. The index would be aiming to retest the previous peak of the 26300 zone in the coming days with the undertone maintained strong, having the important support positioned near the 25300 level as of now. Sensex witnessed a strong session, sustaining above the 161.8% retracement level of 83750, and with a gradual rise seen during the intraday session, it has strengthened the bias anticipating a further rise in the coming days. As mentioned earlier, the index would have the near-term support positioned near the 82500 zone, and on the upside, with the undertone maintained strong, it has opened the gates for higher targets of 84400 and 89500 levels, with bias and sentiment getting better and better. The support for the day is seen at 25600 levels, while the resistance is seen at 25900 levels.
BANKNIFTY / BANKEX
Bank Nifty has reached our initial target of the 57700 zone with strength indicated, and the resulting outcome of the frontline banking stocks like HDFC Bank and ICICI Bank shall decide the further course of the index with the overall bias maintained strong, expecting further rise in the coming days. The index would have the important support near the 56000 zone, which needs to be sustained to keep the overall bias intact. Bankex continued with the positive move, extending the gains, and surged ahead with the trend getting stronger, breaching above the previous peak zone of the 64700 level, anticipating a further rise in the coming days. As mentioned earlier, the index would have important support near the 63000 zone, which needs to be sustained, and, on the upside, with the bias improving, we can anticipate fresh targets of 66150 and 67750 levels in the coming days. BankNifty would have the daily range of 57300-58300 levels.
Nifty / BankNifty / Sensex / Bankex - Daily Technical Levels
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