Technical Forecast 31th October 2025 by Vaishali Parekh, Vice President - Technical Research at PL Capital
Below the Technical Forecast 31th October 2025 by Vaishali Parekh, Vice President - Technical Research at PL Capital
Forecast
NIFTY / SENSEX
Nifty witnessed some profit booking to shed some of the gains and once again is gripped between the range of 26100 and 25800 zone with consolidation happening since the last 4-5 sessions with overall bias still maintained with a cautiously positive approach. The index would need a decisive breach above the 26100 zone to establish conviction and thereafter, can expect for the near-term targets of 26300 and 26700 levels in the coming days, having the important support positioned near the 25400 zone which needs to be sustained. Sensex once again witnessed resistance near 85000 zone and slipped down with profit booking seen with the index gripped tightly between a narrow range of 84000 and 85000 levels with consolidation happening. The index would need a decisive breach above the 85000 zone to trigger for a fresh breakout and thereafter expect for further upward movement in the coming days. As mentioned earlier, the index would have the important near-term support at 84000 level. The support for the day is seen at 25700 levels, while the resistance is seen at 26100 levels.
BANKNIFTY / BANKEX
BankNifty once again witnessing resistance near the 58500-zone slipped down with profit booking seen and is gripped in a tight rangebound zone of 58500 and 57500 levels since the past few sessions with bias maintained overall positive and would need a decisive breach on either side to confirm a specific directional movement in the coming days. With the crucial near-term support positioned near the 57500 zone, we can expect for the next target of 60000 level in the coming days once a breakout above 58500 zone is confirmed. Bankex witnessed profit booking once again to slip down and has been moving sideways since the past 4-5 sessions having resistance near the 66000 zone with near term support maintained near the 64800 level which needs to be sustained to maintain the overall bias intact. A decisive breach above 66000 is much needed to expect for next higher targets of 67200 and 68700 levels in the coming days to carry on with the positive move further ahead. BankNifty would have the daily range of 57600-58600 levels.
Nifty / BankNifty / Sensex / Bankex - Daily Technical Levels
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