The Nifty 50 faced challenges in maintaining its position above the psychological 26,000 mark during the monthly F&O expiry on October 28, ultimately closing at 25,936, down 64 points after a volatile trading session. Despite this setback, the overall trend remains bullish, supported by strong technical indicators and momentum. Analysts expect the index to reach its record high of 26,277 as it trades above the 26,000 threshold, with immediate support levels identified at 25,850 and 25,800. Should the index fall below this zone, 25,700 is considered a critical support point.

During the session, the Nifty 50 peaked at an intraday high of 26,042 but struggled to sustain initial gains, reflecting indecision in the market as indicated by the formation of a Doji candlestick pattern. The index remains above key moving averages, which are trending upward, illustrating a generally positive trend. The Relative Strength Index (RSI) has cooled slightly but stays above the 70 zone, indicating that while momentum has eased, the overall trend is digesting recent gains rather than reversing course. Analysts suggest that if the Nifty can build momentum above 26,000, a rally could be imminent, with resistance at 26,300.

In contrast to the Nifty, the Bank Nifty demonstrated stronger performance, rising by 100 points to close at 58,214. It formed a bullish candle with a lower shadow, indicating sustained buying interest at lower levels. The index has been trading within a narrow range, struggling to break above the 58,200–58,300 resistance zone. While the RSI has decreased from 76.64 to 72.88, indicating a slight pullback after an overbought condition, the broader trend remains positive, as confirmed by the MACD, which is well above its signal line. Analysts note that if the Bank Nifty can exceed 58,300, it may continue toward 58,800, while the 57,600–57,500 area serves as crucial support in the event of a downturn.