Technical Morning Ideas 06th October 2025 by Vaishali Parekh Vice President - Technical Research, PL Capital Group - Prabhudas Lilladher Ltd
Below the Technical Morning Ideas 06th October 2025 by Vaishali Parekh Vice President - Technical Research, PL Capital Group - Prabhudas Lilladher Ltd
Forecast
NIFTY / SENSEX
Nifty, after having a weak opening, gradually picked up to close on a marginally positive note closing near the 24900 zone to continue with the upward move retesting the important 50EMA at 24900 level and would anticipate for further rise in the coming days. The index maintaining the important support at 24500 zone, is expected to gain further with the RSI improving indicating and as mentioned earlier, a decisive move above the near-term hurdle of 25250 level shall further establish conviction and clarity for further rise. Sensex had indicated a decent pullback from 80200 zone with a significant rise after the 8 consecutive losing streak has improved the bias and sentiment to some extent. Once a decisive move past the important 50EMA level at 81350 zone is confirmed, the index can establish some conviction to anticipate for further rise in the coming days.The previous bottom made near the 79800 zone is positioned as the important and crucial support zone which needs to be sustained. The support for the day is seen at 24800 levels, while the resistance is seen at 25200 levels.
BANKNIFTY / BANKEX
BankNifty, continued with the positive move gaining almost 250 points and has maintained above the important 50EMA at 55150 level to improve the bias and has reached the 55600 level which is the neckline zone of the Inverted Head and Shoulder pattern on the daily chart above which we can expect for a breakout and further rise can be anticipated with upside target of 58000 – 58500 levels expected. The important support would be maintained near the 54400-54500 zone which needs to be sustained as of now. Bankex indicating a higher bottom formation on the daily chart has witnessed a decent pullback taking support near the 61000 zone to improve the bias and sentiment anticipating for further rise. The index has indicated an Inverted Head and Shoulder pattern on the daily chart and with a decisive move above the neckline zone at 62700 level is confirmed, we can anticipate for a fresh upward move in the coming days with the trend improving and target of 65400 level expected. BankNifty would have the daily range of 55200-56200 levels.
Nifty / BankNifty / Sensex / Bankex - Daily Technical Levels
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