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Below the Technical Forecast 29th October 2025 by Vaishali Parekh, Vice President - Technical Research at PL Capital

Forecast

NIFTY / SENSEX

Nifty witnessed a volatile session, finding resistance near the 26000 zone, and amid fluctuations hit the low of the 25800 level on the monthly expiry day to finally close near the 25950 level with bias maintained with a cautiously positive approach. As mentioned earlier, the index having the important support positioned near the 25400 zone would need a decisive breach above the 26000 zone to trigger a fresh upward move having near-term targets of 26300 and 26700 levels in the coming days. Sensex witnessed a highly volatile session, swinging both ways, finding resistance near the 85000 zone, and thereafter, showing good support near the 84200 level to close near the 84600 level, with bias overall maintained with a cautious approach. As mentioned earlier, the index is precariously placed, having the crucial and major support positioned near the 83700 zone, and on the upside, it would need a convincing and decisive breach above the 85200 zone to expect further upside movement in the coming days. The support for the day is seen at 25800 levels, while the resistance is seen at 26200 levels.

BANKNIFTY / BANKEX

Bank Nifty amid fluctuations resisted near the 58300 zone and recovered from the 57800 level to close near the 58200 level, with consolidation visible since the last 3-4 sessions. With the overall bias maintained positive, the index would have the next target of the 60000 level expected once the level of the 58600 zone is breached above to establish conviction. On the downside, as mentioned earlier, the near-term support near the 57300 zone would be crucial, which needs to be sustained to keep the overall trend intact. Bankex has been witnessing a very slow and sluggish movement rising with a stagnant pace, but sentiment overall is improving, as witnessed in the last few sessions. As we have been mentioning, the index would need a decisive move past the 65800 zone to overall improve the bias, and thereafter, establish conviction anticipating a fresh upward move in the coming days with the 64500 level maintained as the important support zone, which needs to be sustained. BankNifty would have the daily range of 57800-58800 levels.

Nifty / BankNifty / Sensex / Bankex - Daily Technical Levels

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