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Nifty Technical Analysis by Samco

Nifty & Nifty Bank Technical Analysis by Samco Securities

by Om Mehra, Technical Research Analyst, SAMCO Securities

đź•— Last Update: 4 November 2025, 8.00 PM

Nifty on the Edge, Consolidation Gains strength Near 25,600 Zone

Nifty ended the session at 25,597.65, down 0.64%, after struggling to hold on to the previous day’s gains. The index opened on a subdued note and gradually drifted lower through the session, forming a bearish candle on the daily chart. The closing came exactly near the middle Bollinger band at 25,600. The recent decline reflects exhaustion after the October rally, as Nifty slipped below the 23.6% Fibonacci retracement and is inching toward the 38.2% retracement, placed around the 25,500 level.

The RSI has eased to around 52, while the MACD has given a negative crossover, indicating that the bullish momentum is slowing. However, the broader trend remains positive, and this phase appears to be a normal correction accompanied by short-term volatility.

The immediate support remains around 25,500–25,430, while on the higher side, resistance is capped near 25,740–25,800. Only a decisive close above this range could push the index higher. For now, Nifty is expected to remain range-bound, with a slight sell-on-rise tone until the resistance zone is decisively surpassed. The India VIX settled at 12.65, and a move above 13 could lead to increased volatility in the coming sessions.

Nifty Bank ended the session at 57,827.05, down 0.47%, after a subdued session marked by minor fluctuations. The index opened weak and moved within a narrow range throughout the day, forming a small bearish candle on the daily chart. The index closed just below the upper Bollinger band, reflecting a phase of consolidation rather than exhaustion after the recent rally.

The index hovered near the 23.6% Fibonacci retracement level of 57,550, which is acting as a near-term base. The middle Bollinger band, placed around 57,400, aligns with the short-term moving average which offers short term support. The RSI, easing to around 61, while the MACD is tilting to the downside, suggesting mild weakness in the short-term trend.

The support for the index is placed around 57,600–57,500, followed by a secondary base near 57,300. On the upside, resistance is seen at 58,150–58,300, and a close above this zone could open the path toward the all-time high of 58,577. As long as the index holds above 57,400, the broader trend remains positive; however, short-term volatility and minor corrective moves cannot be ruled out.

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