Indian Equity Market Ends Flat: Sensex 84,556 | Nifty 25,891 | Key Supports & Outlook

Udaipur, Oct 23, 2025: The Indian equity market ended the session on a flat note, trimming early gains as investors resorted to selective profit booking amid cautious global sentiment. Uncertainty around global trade developments and the absence of fresh domestic triggers led to a profit booking. At the close, the Sensex gained 130.06 points or 0.15% to settle at 84,556.40, while the Nifty 50 edged higher by 22.80 points or 0.09% to close at 25,891.40. A strong performance was witnessed in the Nifty (IT) sector, which surged 2.21%, supported by renewed buying interest in leading IT majors. Other sectors such as Private Banks, Media, and FMCG also ended in the green, reflecting stock-specific strength. However, profit booking was evident in Healthcare, Oil & Gas, and Pharma sectors, which capped the market’s overall upside momentum. The broader market underperformed the benchmarks, with the Nifty Midcap 100 closing marginally lower by 0.06%, while the Nifty Small cap 100 slipped 0.05%.

Nifty Outlook

Index opened gap up above the 26,000 levels but failed to sustain at higher levels and gave up its gains to close almost flat on Thursday. It has formed a bear candle with a higher high and higher low signaling profit booking at higher levels after the recent strong up move. Nifty after a sharp 1,500-point rally over the past four weeks, the stochastic oscillator on both daily and weekly charts has entered the overbought zone. This suggests the potential for a short-term consolidation or corrective pause at higher levels. We expect index to consolidate in the range of 25,600-26,100 thus working off the overbought condition developed after the recent rally. On the downside, the zone of 25,500–25,700 is expected to act as a strong demand area, coinciding with the 38.2% Fibonacci retracement of the ongoing rally (24,587–25,782) and the recent breakout region — thus providing a solid technical support base. We believe dips towards the support area should be used as a buying opportunity.

Bank Nifty Outlook

Index opened on a positive note but failed to sustain at higher levels and gave up its gains to close marginally higher on Thursday. It has formed a bear candle signaling profit booking at higher levels.

Going forward, the index is expected to consolidate with positive bias, with immediate supports placed at 57,500-57600 levels being the last week breakout area and a stronger demand zone is seen near 56,800-56,500 levels. On the higher side, resistance is placed around 59000 levels being the 138.2% retracement of the entire previous decline (57628-53561). From an oscillator perspective, the Stochastic indicator has reversed upward and is nearing the overbought territory, suggesting a possible phase of consolidation with a positive undertone.

Attributed to Bajaj Broking | ConceptPR