There was buying seen in selective Oil gas and Capital Goods stocks, whereas Healthcare and Financial services stocks registered intraday profit booking at higher levels.
Shrikant Chouhan,
Head Equity Research,
Kotak Securities
Mumbai, October 30, 2025: Today, the benchmark indices witnessed selling pressure at higher levels. The Nifty ended 176 points lower, while the Sensex was down by 593 points. Among sectors, there was buying seen in selective Oil gas and Capital Goods stocks, whereas Healthcare and Financial services stocks registered intraday profit booking at higher levels.
Technically, after a gap-down open, the entire day market witnessed selling pressure at higher levels. A bearish candle on daily charts and a double top formation on intraday charts indicate further weakness from the current levels. However, the short-term texture of the market still remains positive.
We are of the view that the market is witnessing range-bound activity; hence, level-based trading would be the ideal strategy for day traders. For day traders, as long as the market is trading below 26,000/84500, the weak sentiment is likely to continue on the downside, with the market potentially slipping to 25,800/84200. Further downside may also continue, which could drag the market to 25,720/84000.
On the flip side, above 26,000/84500, the sentiment could change. If the market moves above this level, it could rise to 26,100–26,150/84800-85000.
Gaurav Garg, Research Analyst Lemonn Markets Desk, adds:
Equity benchmarks slipped on Thursday as cautious commentary from the US Federal Reserve and renewed foreign fund outflows weighed on sentiment. The Fed’s 25 bps rate cut was in line with expectations, but Chair Jerome Powell’s indication of a pause in further easing dampened risk appetite, especially amid the ongoing US government shutdown. FIIs turned net sellers, offloading ₹2,540 crore worth of equities, adding to pressure on domestic markets. Dr. Reddy’s, HDFC Life, Sun Pharma, Bharti Airtel, and Tata Steel were among the top laggards, falling up to 5%. The India VIX climbed 1.5% to 12.16, reflecting heightened market anxiety. On the technical front, Nifty’s momentum has slowed in recent highs, though bullish continuation patterns persist. Dips toward 25,810 are expected to attract buying, with immediate resistance seen near 26,010.
