The Nifty ended 23 points higher, while the Sensex was up by 130 points.
Shrikant Chouhan,
Head Equity Research,
Kotak Securities
Mumbai, October 23, 2025: Today, the benchmark indices witnessed profit booking at higher levels. The Nifty ended 23 points higher, while the Sensex was up by 130 points. Among sectors, the IT index outperformed today, rallying over 2 percent. Technically, after a gap-up open, market consistently witnessing profit booking at higher levels. From the day's highest level, the market shed over 230/750 points. Additionally, on the daily charts, a bearish candle has formed, indicating temporary weakness. However, the short-term market outlook remains positive.
For day traders, levels of 26,000/84,800 will act as key levels to watch. As long as the market trades below these levels, profit booking is likely to continue. On the downside, the market could slip to 25,800-25,700 / 84,300-84,000. On the upside, above 26,000/84,800, the chances of reaching 26,100-26,150 / 85,300-85,500 would increase.
Hrishikesh Yedve, AVP Technical and Derivative Research, Asit C. Mehta Investment Interrmediates Ltd, adds:
“The Nifty index opened on a gap-up note, witnessed profit booking, and finally settled the day on a flat note at 25,891. Technically, on the daily chart, Nifty found resistance near the short-term trend line and formed a big bearish candle, indicating selling pressure at higher levels. On the upside, 26,100 will act as an immediate hurdle for the index, while 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 book profits on bounce and wait for index to retrace back to support levels mentioned above.
The Bank Nifty index opened on a gap-up note, witnessed heavy profit booking, and eventually settled on a flat note at 58,078. Technically, on the daily chart, the Bank Nifty index formed a red candle with a long upper shadow, indicating selling pressure at higher levels. On the downside, immediate support is placed near 57,630, while the major hurdle is positioned around 58,580. As long as the index remains below 58,580, traders are advised to book profits on bounce and wait for a fresh bullish trigger.”
