Nifty Analysis by Angel One
For October 20, 2025
Nifty write up by Rajesh Bhosale, Equity Technical Analyst, Angel One
Bulls Celebrate Early Diwali as Nifty Hits New Calendar-Year High
Ahead of the festive week, the markets witnessed a splendid run. The week began on a cautious note after renewed US–China tariff tensions over the weekend, with Nifty testing levels around 25050 on Tuesday. However, holding firmly above key supports, prices staged a strong comeback in the following sessions. The up-move gathered momentum as Nifty surpassed intermediate hurdles to end the week just above 25,700, posting gains of around 0.50% on Friday and 1.68% week-on-week.
Courtesy of this powerful rally, Nifty has notched a fresh calendar-year high, and the chart structure now presents several encouraging technical signals suggesting that the uptrend remains well-intact. On the weekly chart, Nifty has crossed above the July swing high, confirming a ‘Cup-and-Handle’ breakout. Additionally, the trendline connecting lower tops from the all-time highs has been decisively breached, marking the end of a prolonged consolidation phase that lasted for over a year, a period that offered little to no returns for the benchmark index. With this breakout, the bulls appear to have re-entered the driver’s seat. The immediate upside targets are seen around the 26000 mark, followed by the all-time high near 26277. While the broader pattern suggests the potential for much larger gains in the coming months, it’s prudent to approach one milestone at a time. Traders are advised to maintain a positive bias and continue adopting a buy-on-dips strategy. Immediate support is now placed around 25500, followed by 25350, which coincides with a bullish gap zone from Thursday’s session. Given the current setup of strong price action supported by momentum indicators, Nifty appears well-poised to advance toward the mentioned resistance zones in the near term. Although the coming week may see some consolidation, given the truncated trading week and festive sentiment among participants, broader markets are likely to stay abuzz, with midcaps and thematic stocks continuing to outperform.
With this, we take this opportunity to wish you all A HAPPY DIWALI and PROSPEROUS NEW YEAR.
Key levels to watch
NIFTY
Support: 25500 – 25350
Resistance: 26000 – 26200
BANKNIFTY
Support : 57300 – 57000
Resistance: 58300 – 58500
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