Nifty & Nifty Bank Technical Analysis by Samco Securities
by Om Mehra, Technical Research Analyst, SAMCO Securities
đź•— Last Update: 8 October 2025, 8.00 PM
Nifty Pulls Back from Peak; Momentum Turns Subdued
Nifty ended the session at 25,046.15, down 0.25%, forming a bearish candle with a long upper shadow, which reflects intraday rejection from higher levels. However, despite the mild decline, the index hovers above crucial levels that were earlier resistances.
Nifty remains positioned above all major moving averages, though the narrowing gap between the 9-EMA and 20-EMA suggests that the short-term upside may be moderating. The RSI remains at 54, flattening around the midline, while the MACD stays in the neutral zone. The Super trend level around 25,180 continues to act as a crucial near-term resistance, followed by the Bollinger upper band near 25,480.
The support is placed at 24,900, followed by 24,850, which coincides with the 50% Fibonacci retracement. The India VIX closed at 10.31 and any rise toward 11 level could bring a sharp rise in volatility in the coming sessions. Nifty could remain choppy and non-directional, with large swings until the 24,850–25,220 range is decisively taken out.
Nifty Bank ended the session at 56,018.25, down 0.39%, forming a spinning top candle on the daily chart, which reflects indecision after a strong six-session up move. The pattern indicates a pause in momentum, as intraday gains were erased, signalling that the index is encountering selling pressure from higher levels.
The index remains positioned above all major moving averages, reaffirming its medium-term strength. However, the near-term trend may turn sideways or experience mild profit-booking if it fails to regain traction above 56,300.
The RSI is currently at 61, while the MACD maintains a positive crossover, though histogram bars indicate a slight reduction in momentum. The support is seen near 55,650, followed by 55,500, whereas resistance is placed at 56,300–56,400.
Although the medium-term outlook remains steady, the combination of an extended rally and rejection from the upper band points to a potential cooling-off phase in the coming sessions.
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