Indian equity markets opened on a weaker note on Tuesday, with both the Nifty 50 and the Sensex slipping in early trade before recovering some ground by the close. Despite the mild decline, both indices managed to hold above their key moving averages, suggesting continued underlying strength in the broader trend. Market sentiment, however, remained cautious as traders booked profits after recent gains, with momentum indicators hovering around overbought levels, hinting at possible consolidation in the near term.
Sectoral performance was mixed, reflecting selective buying interest across the board. Metal and PSU Bank stocks emerged as notable gainers, supported by renewed optimism in industrial demand and improving credit outlook. In contrast, realty, CPSE, and capital market stocks came under pressure, dragging the overall market lower. Global cues were largely negative, with most Asian markets ending in the red amid cautious investor sentiment, although a slight uptick in U.S. futures hinted at some resilience in overseas markets.
In this overview, we will analyse the key technical levels and trend directions for Nifty and BSE Sensex to monitor in the upcoming trading sessions. All the charts mentioned below are based on the 5-minute timeframe.
Nifty 50
(In this analysis, we have used 20/50/100/200 EMAs, where 20 EMA (Red), 50 EMA (Orange), 100 EMA (Light Blue), and 200 EMA (Dark Blue)).
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The Nifty 50 Index opened on a negative note at 25,939.95 on Tuesday, down by 26.1 points from Monday’s closing of 25,966.05. The index opened on a bearish note but later surged to 26,041.7, marking its day high in the morning session. Subsequently, it declined to the 25,826 level before rebounding to 25,929. During the morning session, the index traded within the 25,800-26,050 range, staying above all four EMAs (20/50/100/200) on the 15-minute chart.
In the afternoon, the index turned volatile and touched its day low at 25,810. Overall, it moved within a narrow 25,800-26,000 range throughout the session. During the afternoon session, the Nifty 50 closed above all four EMAs of 20/50/100/200 in the 15-minute time frame. The Nifty’s immediate resistance levels are R1 (25,984), R2 (26,042) and R3 (26,101), while immediate support levels are S1 (25,826), S2 (25,782) and S3 (25,721).
The Nifty index had reached a day’s high at 26,041.70 and saw a day’s low at 25,810.05. Finally, it had closed at 25,936.20, in the red below the 25,950 level, losing 29.85 points, or 0.11%. The Nifty 50 closed above all four EMAs of 20/50/100/200 in the daily time frame.
Momentum Indicators
RSI (Daily): The Nifty 50’s RSI stood at 70.03, which is above the overbought zone of 70, indicating potential for a reversal.
Bollinger Bands (Daily): The index is trading in the upper band of the Bollinger Band range above the middle band (Simple Moving Average). Its position in the upper range indicates a bullish sentiment, and the Index formed a doji candle in the daily time frame, meaning an indecision on Tuesday session and took support near 25,810 and 26,042 acted as a resistance level. A sustained move above the middle band signals a bullish sentiment, while a drop back toward the lower band may reinforce bearish sentiment.
Volume Analysis: Tuesday’s trading session had an above-average volume of 395.23 Mn.
Derivatives Data: Options OI indicates strong Put writing at 25,900, followed by 25,800, establishing it as a firm support zone. On the upside, a significant Call OI buildup at 25,950 and 26,000 suggests a potential resistance supply. PCR (Put/Call Ratio) stands at 0.8788 (<1), leaning towards Bullish sentiment, and the Long unwinding indicates a Strong Bearish outlook, with an overall mixed outlook for the next trading session.
Bank Nifty
(In this analysis, we have used 20/50/100/200 EMAs, where 20 EMA (Red), 50 EMA (Orange), 100 EMA (Light Blue), and 200 EMA (Dark Blue)).
The Bank Nifty Index started the session on a negative note at 58,006.55 on Tuesday session, down by 107.7 points from Monday’s closing of 58,114.25. The index started on a Bearish note, was trading between the range of 57,750 and 58,350. In addition, the index was trading above all four EMAs of 20/50/100/200 in the 15-minute time frame in the morning session. In the afternoon session, the Index was volatile and pulled back above the 58,200 mark.
Further, the Index was trading in the range of 57,900 and 58,350, ended in green. During the afternoon session, Bank Nifty closed above all four EMAs of 20/50/100/200 in the 15-minute time frame. The Bank Nifty’s immediate resistance levels are R1 (58,311) and R2 (58,582), while immediate support levels are S1 (57,939), S2 (57,566), and S3 (57,331).
The Bank Nifty index had peaked at 58,313.80 and made a day’s low at 57,770.35. Finally, it had closed in green at 58,214.10, closing above the 58,200 level, gaining 99.85 points or 0.17%. The Relative Strength Index (RSI) stood at 72.88, above the overbought zone of 70 in the daily time frame, and Bank Nifty closed above all four EMAs of 20/50/100/200 in the daily time frame.
Sensex
(In this analysis, we have used 20/50/100/200 EMAs, where 20 EMA (Red), 50 EMA (Orange), 100 EMA (Light Blue), and 200 EMA (Dark Blue)).
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The BSE Sensex Index also opened on a negative note at 84,625.71 on Tuesday, down by 153.13 points from Monday’s closing of 84,778.84. The index started its session on a bearish note but surged as high as 84,987, marking its day high. Subsequently, it declined to the 84,228 level before rebounding to 84,568. The Index was trading within the 84,200-85,000 range and was trading above the EMAs of 20/100/200 but remained below the 50 EMA in the 15-minute time frame in the morning session.
In the afternoon session, the Index pulled down to 84,219 marking its day low, but later recovered and ended above the 84,600 level. The Index was trading in the 84,200-84,750 range, maintaining its overall bearish trend and closed above all four EMAs of 20/50/100/200 in the 15-minute time frame. The BSE Sensex immediate resistance levels are R1 (84,960) and R2 (85,283), while immediate support levels are S1 (84,246), S2 (83,807), and S3 (83,351).
The BSE Sensex index had peaked at 84,986.94 and made a day’s low at 84,219.39. Finally, it had closed at 84,628.16 in red, losing 150.69 points or 0.18%. The Relative Strength Index (RSI) stood at 69.16, below the overbought zone of 70 in the daily time frame, and the BSE Sensex closed above all four EMAs of 20/50/100/200 in the daily time frame.
India VIX
The India VIX increased by 0.095 points or 0.8%, from 11.86 to 11.95 during Tuesday’s session. An increase in the India VIX typically indicates higher price volatility in the stock market, suggesting a less stable market environment. However, a stable market environment and minimal volatility are anticipated when the India VIX is below 15.
Market Recap – 28th October 2025
On Tuesday, the Nifty 50 opened lower at 25,939.95, down -56.10 points from its previous close of 25,966.05. The index hit an intraday low of 25,060.55, dropping below the 26,000 level, before closing at 25,810.05, down -29.85 points, or -0.11%. Despite the decline, the index remained above all key moving averages (20/50/100/200-day EMAs) on the daily chart, indicating some technical support.
The BSE Sensex mirrored the Nifty’s trend, opening at 84,625.71, down -153.13 points from the previous close of 84,778.84. It followed a similar pattern, closing at 84,628.16, a drop of -150.68 points, or -0.18%. Both indices showed high momentum, with RSI values for Nifty 50 at 70.03 and Sensex at 69.16, crossing the overbought threshold of 70.
The majority of indices remained negative on Tuesday. However, some indices were in green. The Nifty Metal index was the biggest gainer, rising 1.23% or 129.05 points, and standing at 10,596. Stocks such as Jindal Steel, which jumped 3.79% on Tuesday. While other metal stocks like JSW Steel Ltd, Tata Steel Ltd, and SAIL also gained up to 2.92%. The Nifty PSU Bank was also among the major gainers, gaining 1.21% or 97.00 points, and standing at 8,087.65. Stocks such as Indian Bank rose 3.28%, followed by Bank of Maharashtra and Punjab & Sindh Bank, which gained up to 1.92% on Tuesday.
The Nifty Realty Index was the biggest loser, falling -1.1%, or -10.05 points, to 944.6. Stocks like Brigade Enterprises Ltd, Signature Global Ltd, Oberoi Realty, and Prestige Estates Projects Ltd saw declines of up to -2.4%. The Nifty CPSE Index also declined -0.9%, or -57.4 points, to 6,554.55. Key stocks like Oil India Ltd, Coal India Ltd, ONGC Ltd, and NBCC Ltd fell by up to -2.3%. The Nifty Capital Market Index also followed the negative trend, closing at 4,643.1, down -0.8%, or -39.2 points. Stocks like BSE Ltd dropped -3.6%, while other Capital Market stocks such as MCX India Ltd, Angel One Ltd, and Anand Rathi Wealth Ltd saw losses of up to -2%.
Asian markets experienced a downturn on Tuesday. Japan’s Nikkei 225 declined by -0.63%, dropping -316.32 points to close at 50,196. Hong Kong’s Hang Seng fell by -0.40%, ending at 26,329, while China’s Shanghai Composite decreased by -0.22% to 3,988.22. Conversely, Singapore’s Straits Times Index increased by 0.23%, finishing at 4,450.36, but South Korea’s KOSPI declined by -0.81%, closing at 4,010.41. At 4:11 p.m. IST, U.S. Dow Jones Futures were slightly higher, up 0.12%, at 47,599.42, gaining 54.83 points.
Trade Setup Summary
The Nifty 50 opened on a negative note at 25,939.95 on Tuesday and ended the session in the red below the 25,950 level at 25,936.20. A break below 25,826 could trigger further selling towards 25,782, while breaking the next resistance level of 25,984 could trigger bullishness towards the 26,042 level.
Bank Nifty also started the session on a negative note at 58,006.55 but ended the session in the green at 58,214.10, above the 58,200 level. A break below 57,939 could trigger further selling towards 57,566, while breaking the next resistance level of 58,311 could trigger bullishness towards the 58,582 level.
Sensex also opened on a negative note at 84,625.71 and ended the session in the red at 84,628.16, below the 84,650 level. A break below 84,246 could trigger further selling towards 83,807, while breaking the next resistance level of 84,960 could trigger bullishness towards the 85,283 level.
Given the ongoing volatility and mixed sentiments, it’s advisable to avoid aggressive positions and wait for clear directional moves above resistance or below support. Traders should consider these key support and resistance levels when entering long or short positions following the price break from these critical levels. Additionally, traders can combine moving averages to identify more accurate entry and exit points.
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