Indian equity benchmarks declined over half a percent on Friday
Gaurav Garg,
Research Analyst
Lemonn Markets Desk
Mumbai, October 24, 2025: Indian equity benchmarks declined over half a percent on Friday, snapping a six-day winning streak as investors booked profits and foreign funds turned sellers. Profit-taking in banking, FMCG, IT, and auto stocks weighed on sentiment, while uncertainty over reports of a potential India–US trade deal further dampened investor enthusiasm. Foreign Institutional Investors offloaded equities worth Rs1,165.94 crore on Thursday, ending five sessions of buying. The India VIX rose nearly 1 percent to 11.84, reflecting a slight increase in market volatility. The Nifty may remain range-bound in the near term, with support seen at 25,780–25,590 and resistance near 26,000.
Amol Athawale, VP Technical Research, Kotak Securities, adds:
In the last truncated week, the benchmark indices experienced volatile activity. After a roller-coaster session, the Nifty ended 0.34 percent higher, while the Sensex gained 606 points. Among sectors, IT and PSU bank indices outperformed; the IT index gained 2.92 , and PSU banks rallied 2.35 percent.
Technically, on weekly charts, the index has formed a shooting star kind of formation, and on daily charts, a reversal pattern has emerged, which supports a temporary weakness. However, the short-term market outlook remains positive. We believe that the short-term market setup is still favourable, but traders may adopt a strategy of buying on corrections and selling on rallies.
On the downside, 25,700/84000 and 25,550/83500 are key support zones, while 26,000/84800 and 26,100–26,150/85000-85200 could act as crucial resistance levels for the bulls. However, below 25,550/83500, sentiment could turn bearish. In such a scenario, traders may consider exiting long positions.
For Bank Nifty, 57,500–57,000 could serve as crucial support levels, while 58,000 and 58,650 are key resistance areas for the bulls. However, below 57,000, the upward trend could become vulnerable.
