Exclusive Technical Analysis of the Market by Nagaraj Shetti
Senior Technical Research Analyst, HDFC Securities
🕗 Last Update: 15 October 2025, 6.00 PM
🔔 Nifty Market Update – 16 October 2025
After showing sharp weakness on Tuesday, Nifty witnessed sharp bounced back on Wednesday and closed the day higher by 178 points. After opening on a positive note, the market witnessed a sustainable upmove for better part of the session. Intraday dips have been utilized to move higher and Nifty finally closed near the highs.
A long bull candle was formed on the daily chart, that indicates counter attack of bulls after one session of weakness on Tuesday. Nifty is currently placed at the edge of breakout of cluster resistance like down sloping trend line, previous swing high and upper range of last few sessions around 25400-25500 levels.
The underlying trend of Nifty is positive. A decisive breakout of key resistance at 25500 is likely to open more upside towards 25700-25800 in the near term. Immediate support is placed at 25200.
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