The Nifty index opened on a gap-up note, witnessed some profit booking, and finally settled the day on a bullish note at 25,843
Hrishikesh Yedve,
AVP Technical and Derivative Research,
Asit C. Mehta Investment Interrmediates Ltd.
Mumbai, October 20, 2025:“The Nifty index opened on a gap-up note, witnessed some profit booking, and finally settled the day on a bullish note at 25,843. Technically, on the daily chart, Nifty formed a spinning top pattern, indicating selling pressure at higher levels. On the upside, 26,000 will act as an immediate hurdle for the index. On the downside, the recent breakout zones of 25,670 and 25,450 will act as key short-term support levels. Hence, traders are advised to maintain a buy-on-dips strategy in Nifty.
The Bank Nifty index opened on a gap-up note, witnessed renewed buying interest, and closed on a bullish note at 58,033. Technically, Bank Nifty has maintained above its previous all-time high of 57,628 and formed a bullish candle with a long upper shadow, reflecting selling pressure at higher levels. On the downside, immediate support is seen near 57,830, while major support lies around 56,920, where the bullish gaps are placed. As long as the index remains above 56,920, the ongoing bullish momentum is likely to persist. On the upside, Bank Nifty could extend its rally towards the 58,500–59,000 zone. Hence, traders are advised to continue with a buy-on-dips approach for the short term.”
