Technical indicators suggest a potential breakout above 25,400, with resistance near 25,500 and support between 25,220–25,150. The India VIX fell 5.6% to 10.53, signalling subdued volatility amid cautious optimism. | Photo Credit:
Ponmudi R, CEO of Enrich Money, said with favourable macroeconomic conditions, easing dollar outflows, and strong domestic liquidity, Indian equities remain well-positioned to extend their gains, led by strength in banking, IT, and consumption sectors.
“After consolidating for the past four sessions near the upper trendline, Nifty is now showing signs of a potential breakout. A sustained move above 25,400 could lead to a steady rally, with 25,450 as the immediate swing target and 25,650 the June 30 high emerging as the next significant resistance zone. On the downside, support levels are placed between 25,220 and 25,150, where buying interest is likely to emerge. As long as Nifty sustains above 25,150, the short-term structure remains bullish, with higher highs anticipated in the coming sessions,” Ponmudi said.
Meanwhile, Asian stocks are up in early deals on the F&O market, which also points to a positive outlook for the Indian markets.
Amruta Shinde, Technical & Derivative Analyst at Choice Equity Broking Private Limited, said the India VIX — a key gauge of market volatility — fell 5.60 per cent to 10.53, reflecting subdued volatility despite ongoing uncertainty. In the derivatives segment, open interest (OI) data showed the highest call writing at the 25,500 strike, while the maximum put OI was concentrated at 24,300. This positioning indicates strong resistance around the 25,500 mark. Overall, sentiment remains cautiously optimistic, but a decisive close above 25,500 will be crucial to revive bullish momentum in the near term.”
Published on October 16, 2025