Market breadth was slightly negative, as more stocks fell than rose, showing that only a few large-cap stocks led the gains. The Nifty opened flat but held firm through the session, forming a mild bullish candle on the daily chart. Technically, a sustained move above 25,120 could lead to an upside toward 25,200–25,250, while key support remains at 25,000 and 24,950.
Among sectors, energy and oil & gas were the top performers, supported by rising crude prices and positive global cues. Pharma, telecom, and consumer durables also contributed to the uptrend, while metals, FMCG, and media sectors witnessed profit booking.
The Nifty 50 prediction today indicates a sideways to bullish trend. The range is between 24950 and 25250, with support at 24950-25000 and resistance at 25200-25250. Traders should monitor these crucial levels closely for potential market shifts.
The Bank Nifty mirrored the broader trend, closing around 56,050, up 180 points, showing short-term strength. Support is seen at 55,900, with resistance near 56,400–56,600; a breakout above this zone could push the index toward 57,000.
Today Bank Nifty prediction suggests a sideways to bullish range between 55900 and 56600, with strong support at 55900-56000 and resistance at 56500-56600. Traders should monitor these crucial levels closely for potential market shifts.
On October 7, Indian equity markets ended the session on a mildly positive note, extending their recent gains but with signs of selective participation. The Sensex rose 195.84 points close at 81,985.96, while the Nifty 50 added 30.65 points to settle at 25,108.30.
The SENSEX today prediction is projected to move in a sideways to bullish range, between 81400 and 82500. Key support is expected around 81400-81500, while resistance is likely near 82400-82500. Traders should monitor these crucial levels closely, as a breakout in either direction could signal a significant market move.
Meanwhile, the India VIX remained subdued at 10.12, reflecting low volatility and steady market sentiment. In the derivatives space, the highest call open interest was seen at 25,200, while the maximum put OI stood at 25,000, indicating support near 25,000 and resistance around 25,200 in the near term.
Prediction is given by the Technical Research Team - Choice.
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