ROHAN SHAH
TECHNICAL ANALYST, ASIT C MEHTA INVESTMENT
Where is Nifty headed this week?
Nifty ended higher for the third straight week, buoyed by gains in banking and heavyweight counters. Technically, the index faces an immediate hurdle near the 25,800 zone, which coincides with the upper band of an ascending broadening wedge pattern, Fibonacci clusters, and a supply zone. Sustaining above this level will be crucial for the index to maintain its upward momentum. A failure to breach this resistance could trigger profit-taking towards the 25,200–24,800 zone, while a breakout past 25,800 would open the way towards all-time high levels. Trading strategies for the week
The FMCG index has witnessed a smart recovery from its longterm support zone, confirming renewed strength. Stocks like Hindustan Unilever, Colgate Palmolive, and Tata Consumer are displaying positive chart structures and can be considered for accumulation. Additionally, Oberoi Realty, SBI, Asian Paints, Bajaj Auto, and Alkem Lab are exhibiting strength and hold the potential to outperform. In contrast, media and IT sectors remain laggards, showing persistent weakness on the charts, and should be avoided for long exposure.
AJIT MISHRA
SVP-RESEARCH, RELIGARE BROKINGWhere is Nifty headed this week?
As the index successfully surpassed its trendline resistance at 25,450 and the June high of 25,669, we are now eyeing the potential to retest of the record high i.e. 26,277, and inch further up. However, it may face immediate resistance near 26,000. On the downside, support is placed at 25,450, with a stronger base around 25,150. Trading strategies for the week
The market enters the new week with an optimistic outlook. However, investors should stay vigilant to external risks. Participants may continue to adopt a buy-on-dips approach, with a focus on sectors demonstrating consistent earnings visibility— particularly banking, FMCG, and consumer durables. IT and export-oriented stocks may remain volatile amid global uncertainty. Within the broader market, preference should be given to fundamentally sound large and midcap stocks over smallcaps for long trades. Bullish On: Bharti Airtel, Hindustan Aeronautics, L&T, M&M, Marico, Phoenix Mills, Prestige Estate, Reliance, Tata Consumer Products, Titan, and TVS Motor Company. Bearish On: Bandhan Bank, Computer Age Management Services, Container Corporation of India, Indian Energy Exchange, Infosys, Indian Railway Finance Corp, and Rail Vikas Nigam.
RAJESH PALVIYA
HEAD OF TECHNICAL AND DERIVATIVES, AXIS SECURITIES
Where is Nifty headed this week?
On the weekly chart, Nifty formed a long bullish candle with a higher-high and -low structure, closing above the previous week’s high, which indicates strength and positive momentum. The index has also broken above the medium-term downward-sloping trendline. With Nifty surpassing the June 2025 swing high, it suggests that the market is likely to witness a strong uptrend ahead, potentially moving towards the all-time high of 26,277. On the downside, the support zone is located between 25,500 and 25,300, with major support at 25,084 (20-day SMA). A sustained move above 25,800 could trigger buying interest towards levels of 26,000 to 26,250, while a break below 25,500 might lead to a decline towards 25,250 to 25,000.
Trading strategies for the week
The weekly RSI remains above its reference line, reinforcing the bullish sentiment. We recommend a buy-on-dips strategy as long as Nifty is trading above 25,400. One can focus on sectors such as banking, NBFC, automobile, capital goods, real estate, FMCG, and chemicals in the coming weeks. We may see upward momentum in stocks like Nestle India, Titan, Mahindra & Mahindra, Bajaj Auto, Godrej Properties, MCX, BSE, ICICI Bank, and SRF. Traders can initiate a moderately bullish strategy with reduced premium outflow and lower breakeven point called BULL CALL Spread of 28th October Expiry. In this net delta Long strategy, traders need to buy one lot of 25,700 call strike at Rs 206 and simultaneously sell one lot of 26,000 call strike at Rs 71 so that net outflow or maximum loss will be restricted to up to Rs 9,750. Nifty on expiry if it closes above 25,835, the strategy will start making a profit as it’s the break-even point for the strategy; however, as the risk is limited, so is the profit. The maximum gains will be restricted up to Rs 12,375, because the gains of a long 25,700 strike call will be offset by the sold 26,000 strike call if Nifty closes above 26,000 on expiry