Nifty & Bank Nifty Market Update – Oct 24, 2025 | Technical Outlook & Trends

Mumbai, Oct 24, 2025: Indian benchmark indices witnessed broad-based profit booking on Friday amid ongoing global trade tensions and policy uncertainties. Despite a late hour rebound, the Nifty ended the day on a weak note, closing near the 25,800 marks. The Sensex fell by 344.52 points or 0.41% to settle at 84,211.88, while the Nifty slipped 96.25 points (0.37%) to close at 25,795.15. Sectoral trends showed pronounced selling pressure, particularly in Nifty Private Banks, PSU Banks, and Healthcare stocks. In contrast, select sectors such as Nifty Metal, Realty, and Oil & Gas managed to close in positive territory, helping to partly curb the market’s overall decline. The broader market also mirrored the cautious sentiment, with the Nifty Midcap 100 index falling 0.24%, while the Smallcap index edged lower by 0.21%, indicating widespread profit-taking across segments.

Nifty Outlook

Nifty on the weekly chart has formed a high wave candle with a higher high and higher low signaling consolidation amid stock specific action after the recent sharp up move. Nifty Following 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, indicating the likelihood of a short-term consolidation at higher levels as can be seen in last two sessions. We anticipate the index to trade within the 25,600–26,100 range to cool off overbought conditions, while a decisive break above 26,100 could open the door for an up move toward 26,500 in the coming weeks. On the downside, the 25,500–25,700 zone is expected to act as a strong support area, backed by the 38.2% Fibonacci retracement of the recent rally (24,587–25,782) and the previous breakout zone. Any dips toward this range can be viewed as buying opportunities.

Bank Nifty Outlook

Bank nifty on the weekly chart has formed a high wave candle with a higher high and higher low signaling consolidation amid stock specific action after the recent sharp up move. Going forward, the index is expected to consolidate with positive bias, with immediate supports placed at 57,300-57500 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 58500 and 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.

Conclusion

Indian markets opened on a muted note today despite positive cues from global market. The benchmark Nifty started the session below the 26,000 mark and remained under pressure throughout the day, eventually slipping below 25,800. Bank Nifty mirrored this weakness, reflecting broad-based selling across major sectors. Sentiment was further dampened after India’s Trade Minister reiterated that the country would not rush into trade agreements under restrictive conditions, weighing on investor confidence.

Among sectors, Metals and Realty stocks showed relative strength, while weakness persisted in Banks, Consumer Goods, Healthcare, Financial Services, and Pharma counters. On the derivatives front, notable open interest buildup was seen in SAMMAANCAP, MARICO, CUMMINSIND, COFORGE, and HINDUNILVR, indicating active positions in these counters.

Technically, Nifty remains range-bound between 25,500 and 26,000 levels, and a decisive move beyond this band will likely set the tone for the next directional trend.

Arributed to Bajaj Broking, Ashika Investments, ConceptPR