Technical Morning Ideas 01st October 2025 by Vaishali Parekh Vice President - Technical Research, PL Capital Group - Prabhudas Lilladher Ltd
Below the Technical Morning Ideas 01st October 2025 by Vaishali Parekh Vice President - Technical Research, PL Capital Group - Prabhudas Lilladher Ltd
Forecast
NIFTY / SENSEX
Nifty, once again witnessed a sluggish session on the expiry day with a rangebound movement gripped between the 24700 and 24600 zone for the entire session to end almost on a flat note. With the bias overall maintained with a cautious approach, the index is precariously placed having the crucial and major support positioned near the 24450-24500 zone, as mentioned earlier, and on the upside, would desperately need a decisive breach above the 24900 zone to expect for further upside movement in the coming days. Sensex after sliding heavily since the last 7 sessions, it witnessed a narrow rangebound session with bias maintained with a cautious approach having the important and crucial support at the 200 period SMA at 79500 zone which needs to be sustained. As mentioned earlier, for the bias to improve, it would need to cross the 50EMA at 81400 zone and thereafter expect for further rise in the coming days. The support for the day is seen at 24500 levels, while the resistance is seen at 24800 levels.
BANKNIFTY / BANKEX
BankNifty, after opening on a positive note remained almost stagnant with narrow range movement to close in the green near 54600 zone with bias precariously placed anxiously anticipating for a pullback in the coming sessions. As said earlier, with the major support zone lying near 53600 level of the previous bottom made, the index would need to breach above the 50EMA level at 55100 zone and thereafter, the neckline of the Inverted Head and Shoulder at 55500 level to establish conviction and expect for further rise in the coming days. Bankex on the other hand witnessed some pullback but with sluggish movement witnessed ending near the 61500 zone and bias maintained with an optimistic approach anticipating for further bounce in the coming sessions. The index has the important 50EMA at 61800 level which needs to decisively breached to improve the bias and thereafter can expect for further rise. As said earlier, most of the PSU Banks have started picking up which can add support to the benchmark index. BankNifty would have the daily range of 54200-55400 levels.
Nifty / BankNifty / Sensex / Bankex - Daily Technical Levels
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