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Below the Technical Forecast 21st November 2025 by Vaishali Parekh, Vice President - Technical Research at PL Capital

Forecast

NIFTY / SENSEX

Nifty opened with a gap up and has indicated a strong breakout above the important resistance zone of the 26100 level, entering a new territory with bias and sentiment maintained with a positive approach. The index would need to sustain above the 26000 zone to keep the bias intact, and we can expect fresh higher targets of 26700 and 27200 levels in the coming days provided the important and crucial support zone near the 25700 zone is sustained to maintain the overall positive trend. Sensex witnessed a strong recovery from the 85200 zone during the intraday session with a steady gain as the day progressed and ended on a quite optimistic note above the 85600 level, expecting a further rise in the coming sessions. The support for the day is seen at 26000 levels, while the resistance is seen at 26400 levels.

BANKNIFTY / BANKEX

Bank Nifty has continued with the upward move with a gradual gain, with frontline banking stocks like HDFC Bank, ICICI Bank, and Axis Bank showing signs of gaining strength to pull the index further in the coming days, with targets of 60500 and 63000 expected, as we have mentioned earlier. The index would need to sustain the important support positioned near the 50EMA zone at the 57200 level to keep the overall trend intact, with the sentiment getting better. Bankex continues to witness a gradual rise after sustaining the important near-term support at the 66000 level and expects a further move till the 67700-68500 zone. The index would continue to have the important support positioned near the 65800 level. BankNifty would have the daily range of 58800-60000 levels.

Nifty / BankNifty / Sensex / Bankex - Daily Technical Levels

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