Overview: Positive Global Cues Lift Market Sentiment
The Indian stock market is expected to open on a positive note on October 28, 2025, supported by strong cues from global markets and optimism following a rally on Wall Street.
The Gift Nifty is trading around 26,055, indicating a premium of 43 points over the Nifty futures’ previous close — signaling a likely upbeat start for the benchmark indices Sensex and Nifty 50.
On Monday, domestic equity markets ended sharply higher, extending gains for the third consecutive session. The Sensex surged 566.96 points (0.67%) to close at 84,778.84, while the Nifty 50 advanced 170.90 points (0.66%) to settle at 25,966.05.
Market experts suggest that momentum may continue today, driven by bullish chart patterns, sustained foreign inflows, and improved investor sentiment.
Key Highlights: What to Watch in Today’s Market Session
- Gift Nifty trading above 26,050, signaling a positive start.
- Sensex support seen at 84,500, resistance at 85,300.
- Nifty 50 may test 26,300 – 26,400 in near term.
- Bank Nifty support at 57,700 – 57,600, resistance at 58,500 – 59,100.
- Global markets buoyed by Wall Street rally and expectations of US Fed rate cut.
- Investors eye US-China trade talks and domestic quarterly earnings.
Global Market Trends: Wall Street Rally Boosts Global Equities
Wall Street Closes Higher
US markets closed significantly higher on Monday, supported by strong corporate earnings and rising expectations that the US Federal Reserve may deliver a rate cut in its next policy meeting.
- The Dow Jones Industrial Average gained over 1.1%,
- The S&P 500 rose 1.4%,
- While the Nasdaq Composite climbed nearly 1.6%.
Analysts believe that the Wall Street rally has created a ripple effect across Asian markets, boosting investor confidence and risk appetite.
Asian Markets Trade Mixed
Asian equities traded mixed in early trade on Tuesday as investors balanced optimism over the US rally with concerns about China’s economic recovery.
- Nikkei 225 and Hang Seng indices posted moderate gains.
- Shanghai Composite remained range-bound amid weak manufacturing data.
These global cues are expected to influence Indian equities positively during the day’s session.
Sensex Today: Technical Outlook and Key Levels
Sensex Gains Momentum
The Sensex formed a bullish candle on daily charts, signaling further upward momentum. Intraday patterns also show a reversal formation, suggesting continued strength from current levels.
Key Insights by Experts:
“For day traders, 84,500 will act as an immediate support zone. As long as the Sensex trades above this level, bullish sentiment is expected to continue. On the higher side, the index could retest 85,000–85,300 levels,” said Shrikant Chouhan, Head of Equity Research, Kotak Securities.
According to Om Ghawalkar, Market Analyst at Share.Market, the Sensex, after breaching 84,700, now targets resistance at 85,000, with strong support near 84,300 – 84,000.
Sensex Technical Levels to Watch
| Parameter | Support | Resistance |
|---|---|---|
| Immediate Support | 84,500 | — |
| Major Support | 84,000 | — |
| Immediate Resistance | — | 85,000 |
| Major Resistance | — | 85,300 |
Outlook:
Analysts expect the Sensex to remain bullish, with possible intraday consolidation before resuming its upward move. Traders are advised to maintain long positions as long as the index sustains above 84,500.
Nifty 50 Today: Expected Movement and Technical Setup
Bullish Candle Formation Signals Strength
The Nifty 50 formed a long bullish candle with a minor upper shadow on Monday, indicating continuation of the uptrend following a brief correction.
“The bullish pattern of higher tops and bottoms remains intact. The recent decline to 25,718 could be seen as a higher bottom,” said Nagaraj Shetti, Senior Technical Analyst at HDFC Securities.
He added that the underlying market trend remains positive and that Nifty 50 could move towards 26,300 – 26,400 levels in the short term.
Key Support and Resistance Levels
| Parameter | Support | Resistance |
|---|---|---|
| Immediate Support | 25,700 | — |
| Key Support | 25,670 | — |
| Immediate Resistance | — | 26,100 |
| Next Resistance | — | 26,300 – 26,400 |
According to Yedve, market strategist, traders should look to buy near support levels of 25,670 and book profits around 26,100. If Nifty sustains above 26,100, it could test its all-time high near 26,280.
Om Ghawalkar also mentioned that Nifty remains positive as long as it trades above 25,500, with 26,000 acting as an immediate resistance followed by 26,300.
Bank Nifty Today: Bullish Trend Intact Despite Resistance
Rebound After Two-Day Decline
The Bank Nifty index ended 414.65 points higher at 58,114.25, forming a bullish candle with a higher high and higher low, indicating a strong rebound after two sessions of mild correction.
“The zone of 58,500–58,600 is likely to act as a crucial resistance area. A decisive breakout above 58,600 could trigger a sharp rally towards 59,100, followed by 59,500 in the near term,” said Sudeep Shah, Head of Technical Research and Derivatives at SBI Securities.
Technical Indicators Support Continued Uptrend
Om Mehra, Technical Research Analyst at SAMCO Securities, pointed out that the Bank Nifty rebounded strongly from near-term support around 57,650, aligning with the 23.6% Fibonacci retracement level.
He noted:
- The index remains above key moving averages.
- The RSI at 72 reflects strong momentum.
- The MACD continues to signal a bullish phase.
Bank Nifty: Key Levels
| Parameter | Support | Resistance |
|---|---|---|
| Immediate Support | 57,800 – 57,600 | — |
| Strong Support | 57,300 – 57,500 | — |
| Immediate Resistance | — | 58,300 – 58,500 |
| Breakout Resistance | — | 59,100 – 59,500 |
Outlook:
Analysts expect dips to be used for accumulation, suggesting a “buy-on-dips” strategy for quality banking stocks.
Sectoral Outlook: What’s Driving the Market
1. Banking and Financials
The Bank Nifty’s strength indicates renewed buying interest in major banking names like HDFC Bank, ICICI Bank, and SBI.
- Support from strong credit growth data.
- Improved liquidity conditions in the system.
2. Information Technology (IT)
Following the Wall Street rally, Indian IT giants like Infosys, TCS, and Wipro are expected to gain as investors bet on better global demand and a stable dollar index.
3. Auto and FMCG
Domestic consumption-focused sectors such as Auto and FMCG may witness buying interest amid festival season demand and easing inflation.
4. Metals and Energy
Metal and energy counters could remain volatile amid fluctuations in global commodity prices and demand signals from China.
Market Strategy: How Traders Should Position
Short-Term Traders
- Maintain buy-on-dips strategy above key support zones.
- Watch for breakout above Nifty 26,100 for momentum plays.
- Keep strict stop-loss at 25,670 on long positions.
Positional Traders
- Continue holding long positions in Bank Nifty and Nifty.
- Focus on sectoral rotation — IT, banking, and FMCG expected to outperform.
- Monitor FIIs/DIIs flows for trend confirmation.
Expert Views: Market Sentiment Remains Bullish
1. Shrikant Chouhan, Kotak Securities:
“Bullish sentiment likely to persist as long as Sensex trades above 84,500. Next targets seen near 85,300.”
2. Nagaraj Shetti, HDFC Securities:
“Nifty’s bullish structure of higher highs and higher lows indicates sustained momentum. Next target zone lies around 26,300–26,400.”
3. Om Ghawalkar, Share.Market:
“Both Sensex and Nifty remain positive; traders should buy on dips near support levels for short-term gains.”
4. Sudeep Shah, SBI Securities:
“Bank Nifty’s strong recovery signals renewed buying interest. Above 58,600, expect sharp upside momentum.”
Broader Market Performance
The broader indices — Nifty Midcap 100 and Smallcap 100 — also posted healthy gains on Monday. The market breadth remained positive, indicating sustained investor appetite across sectors.
- Midcap Index rose by 0.8%,
- Smallcap Index gained 0.6%,
- India VIX, the volatility index, declined 3%, suggesting improved market confidence.
Factors to Watch on October 28
- US Fed Rate Expectations:
Traders await clues on potential interest rate cuts in the upcoming Fed meeting. - US-China Trade Developments:
Any progress in trade negotiations may further uplift global sentiment. - Crude Oil Prices:
Brent crude hovering around $81 per barrel could influence Indian energy stocks and inflation outlook. - Rupee Movement:
The INR’s stability near 83.20 per USD is likely to support foreign inflows. - Corporate Earnings:
Investors will track quarterly results of large-cap firms for guidance on margins and revenue growth.
Investor Takeaway: Optimism Prevails Despite Volatility
The overall outlook for the Indian stock market remains optimistic, supported by global risk-on sentiment, improving domestic fundamentals, and technical strength across indices.
Key Takeaways
- Nifty 50 likely to test 26,300 – 26,400.
- Sensex may approach 85,300 if bullish momentum sustains.
- Bank Nifty eyeing 59,100 – 59,500 on sustained breakout.
- Buy-on-dips strategy remains favored.
- Global cues and corporate earnings will guide short-term direction.
Disclaimer
The views and investment recommendations expressed above are those of individual analysts and brokerage firms. Investors are advised to consult certified financial advisors before making investment decisions.
