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Market Analysis

Weekly Technical Outlook

Support, resistance, trend bias and options-driven technical scenarios for Nifty 50,  Bank Nifty and Sensex.

Data as of Data cut-off: 2026-10-30
Overall weekly bias
Week: 2026-11-02 → 2026-11-06 · Data cut-off: 2026-10-30
Positive weekly bias

Nifty 50: Mildly Bullish, Bank Nifty: Neutral, Sensex: Strong Bullish. Confidence varies by index.

nifty_50: Mildly Bullishbank_nifty: Neutralsensex: Strong Bullish
Nifty 50
Mildly Bullish
23,053.10▲ 2.01%
Confidence
Moderate
Market regime
Trending
Technical score
+3
RSI (14)
61.9
Close vs 20 EMA
22,845.81
Weekly range
22,387.35 — 23,118.10
Immediate resistance
23,318.35 · 23,583.60
Immediate support
22,587.60 · 22,122.10
Bias invalidation
Bias valid above 22,587.60 · Bearish risk below 22,122.10 · Bullish upside above 23,318.35
Expected weekly range: 22,614.65 — 23,491.55
Bank Nifty
Neutral
54,686.95▲ 0.74%
Confidence
Moderate
Market regime
Consolidation
Technical score
-1
RSI (14)
44.0
Close vs 20 EMA
54,967.82
Weekly range
53,626.15 — 55,068.50
Immediate resistance
55,294.92 · 55,902.88
Immediate support
53,852.57 · 53,018.18
Bias invalidation
Bias valid above 53,852.57 · Bearish risk below 53,018.18 · Bullish upside above 55,294.92
Expected weekly range: 53,821.54 — 55,552.36
Sensex
Strong Bullish
74,459.53▲ 1.83%
Confidence
High
Market regime
Consolidation
Technical score
+4
RSI (14)
63.2
Close vs 20 EMA
73,632.89
Weekly range
72,514.57 — 74,742.59
Immediate resistance
75,296.56 · 76,133.59
Immediate support
73,068.54 · 71,677.54
Bias invalidation
Bias valid above 73,068.54 · Bearish risk below 71,677.54 · Bullish upside above 75,296.56
Expected weekly range: 73,122.72 — 75,796.34

Previous week at a glance

Nifty 50
Open · High
22,524.40 · 23,118.10
Low · Close
22,387.35 · 23,053.10
Return
2.01%
Range (pts / %)
730.75 · 3.23%
Sessions +/−
5 / 0
Candle type
Strong bullish candle
Low 22,387.35Close 23,053.10 · 91%High 23,118.10
Strongest session
2026-10-29+246.10
Weakest session
2026-10-2820.85
Bank Nifty
Open · High
54,250.30 · 55,068.50
Low · Close
53,626.15 · 54,686.95
Return
0.74%
Range (pts / %)
1,442.35 · 2.66%
Sessions +/−
3 / 2
Candle type
Neutral candle
Low 53,626.15Close 54,686.95 · 74%High 55,068.50
Strongest session
2026-10-29+734.05
Weakest session
2026-10-27-445.80
Sensex
Open · High
72,990.04 · 74,742.59
Low · Close
72,514.57 · 74,459.53
Return
1.83%
Range (pts / %)
2,228.02 · 3.05%
Sessions +/−
4 / 1
Candle type
Strong bullish candle
Low 72,514.57Close 74,459.53 · 87%High 74,742.59
Strongest session
2026-10-29+882.57
Weakest session
2026-10-28-7.41

Technical scorecards

NIFTY 50
Total +3
IndicatorReadingSignalScore
Weekly structureHigher highPositive+1
Close vs 20 EMAAbove (22845.81)Positive+1
Close vs 50 EMABelow (23159.68)Negative-1
Close vs 200 EMABelow (24114.06)Negative-1
RSI (14)61.86Positive+1
Weekly return+2.00%Positive+1
BANK NIFTY
Total -1
IndicatorReadingSignalScore
Weekly structureHigher highPositive+1
Close vs 20 EMABelow (54967.82)Negative-1
Close vs 50 EMABelow (55646.09)Negative-1
Close vs 200 EMABelow (56810.50)Negative-1
RSI (14)44.04Negative-1
Weekly return+0.74%Neutral+0
SENSEX
Total +4
IndicatorReadingSignalScore
Weekly structureHigher highPositive+1
Close vs 20 EMAAbove (73632.89)Positive+1
Close vs 50 EMAAbove (74389.29)Positive+1
Close vs 200 EMABelow (77673.73)Negative-1
RSI (14)63.22Positive+1
Weekly return+1.83%Positive+1

Recommended bands: +6 Strong Bullish · +3 to +5 Bullish · −2 to +2 Neutral · −3 to −5 Bearish · −6 Strong Bearish.

Support & resistance zones (with confluence scoring)

Nifty 50
Support zones
ZoneStrengthConfluenceFactors
22,529.97 — 22,645.23Moderate2
Weekly pivotPsychological 22600
22,064.47 — 22,179.73Moderate2
Weekly pivotPsychological 22100
Resistance zones
ZoneStrengthConfluenceFactors
23,260.72 — 23,375.98Moderate2
Weekly pivotPsychological 23300
23,525.97 — 23,641.23Moderate2
Weekly pivotPsychological 23600
 Bank Nifty
Support zones
ZoneStrengthConfluenceFactors
53,715.85 — 53,989.28Moderate2
Weekly pivotPsychological 53900
52,881.46 — 53,154.90Moderate2
Weekly pivotPsychological 53000
Resistance zones
ZoneStrengthConfluenceFactors
55,158.20 — 55,431.63Moderate2
Weekly pivotPsychological 55300
55,766.17 — 56,039.60Moderate2
Weekly pivotPsychological 56000
Sensex
Support zones
ZoneStrengthConfluenceFactors
72,882.39 — 73,254.69Moderate2
Weekly pivotPsychological 73000
71,491.39 — 71,863.69Moderate2
Weekly pivotPsychological 71500
Resistance zones
ZoneStrengthConfluenceFactors
75,110.41 — 75,482.71Moderate2
Weekly pivotPsychological 75300
75,947.44 — 76,319.74Moderate2
Weekly pivotPsychological 76000

Confluence counts independent factors overlapping the zone (weekly pivot, moving averages, weekly high/low, psychological round-numbers).

Expected weekly ranges (multi-method)

Nifty 50
Close 23,053.10
Historical volatility
22,579.05 — 23,527.14
Width 948.09
Previous-week range
22,614.65 — 23,491.55
Width 876.90
Options-implied
22,821.90 — 23,284.30
Width 462.40
Combined reference
22,671.87 — 23,434.33
Width 762.46

Historical volatility uses the last 20 daily returns × √5. Previous-week range is scaled by 0.6. Combined = midpoint of the two ranges. Options-implied range is populated when weekly ATM straddle data is available.

Bank Nifty
Close 54,686.95
Historical volatility
53,776.73 — 55,597.17
Width 1,820.44
Previous-week range
53,821.54 — 55,552.36
Width 1,730.82
Options-implied
53,075.65 — 56,298.25
Width 3,222.60
Combined reference
53,557.97 — 55,815.93
Width 2,257.96

Historical volatility uses the last 20 daily returns × √5. Previous-week range is scaled by 0.6. Combined = midpoint of the two ranges. Options-implied range is populated when weekly ATM straddle data is available.

Sensex
Close 74,459.53
Historical volatility
72,902.04 — 76,017.03
Width 3,114.99
Previous-week range
73,122.72 — 75,796.34
Width 2,673.62
Options-implied
73,372.08 — 75,546.98
Width 2,174.90
Combined reference
73,132.28 — 75,786.78
Width 2,654.50

Historical volatility uses the last 20 daily returns × √5. Previous-week range is scaled by 0.6. Combined = midpoint of the two ranges. Options-implied range is populated when weekly ATM straddle data is available.

Options positioning

Nifty 50
Exp 2026-11-03
23,053.10ATM 23,050
PCR (OI)
1.597
PCR (volume)
0.991
Max pain
23,000
ATM straddle
231.20
Implied move
± 1.00%
Call wall
23,500
Put floor
22,000
Options-implied range
22,821.90 — 23,284.30

Put OI dominant — supportive positioning

Bank Nifty
Exp 2026-11-23
54,686.95ATM 54,700
PCR (OI)
0.955
PCR (volume)
0.981
Max pain
55,500
ATM straddle
1,611.30
Implied move
± 2.95%
Call wall
57,000
Put floor
58,000
Options-implied range
53,075.65 — 56,298.25

Balanced positioning

Sensex
Exp 2026-11-05
74,459.53ATM 74,500
PCR (OI)
1.719
PCR (volume)
0.930
Max pain
74,300
ATM straddle
1,087.45
Implied move
± 1.46%
Call wall
77,000
Put floor
70,000
Options-implied range
73,372.08 — 75,546.98

Put OI dominant — supportive positioning

PCR = Put OI / Call OI. Values ≥ 1.25 = put-heavy, potentially supportive. ≤ 0.75 = call-heavy, potentially resistance-heavy. Options positioning may change materially after the market opens, around major events and near contract expiry.

Options open-interest heatmap

Nifty 50 · OI ladder (±10 strikes around ATM 23,050)
CE OICE ΔCE IVStrikePE IVPE ΔPE OI
3,35,66000.022,55015.9044,24,160
9,40,61500.022,60015.5085,10,190
4,31,14500.022,65015.2046,57,055
18,67,64500.022,70014.901,07,30,980
5,28,32000.022,75014.6047,00,930
24,11,17507.522,80014.401,05,95,715
6,17,76008.522,85014.2049,43,965
27,03,54509.322,90014.0093,21,520
12,91,42009.622,95013.9046,03,625
74,58,36009.823,00013.9093,08,390
35,06,815010.023,050ATM14.0043,84,965
69,00,140010.223,10014.1027,48,850
36,75,425010.223,15014.405,19,155
77,08,480010.323,20014.708,52,930
34,09,250010.423,25015.301,63,800
67,33,415010.623,30015.803,71,475
34,93,165010.823,35016.7082,420
1,02,47,055010.923,40017.502,28,085
42,40,210011.123,45018.501,27,270
1,32,79,760011.523,50019.605,32,870
36,59,045011.823,55020.5017,030
 Bank Nifty · OI ladder (±10 strikes around ATM 54,700)
CE OICE ΔCE IVStrikePE IVPE ΔPE OI
14,130015.653,70015.4061,050
34,290014.953,80015.201,07,070
37,200014.953,90015.1090,930
4,07,730014.854,00015.107,91,370
38,520014.654,10014.9075,900
63,060014.854,20014.901,07,610
51,300014.754,30014.9095,940
50,490014.754,40014.801,02,810
3,86,280014.554,50014.505,19,630
83,970014.454,60014.5094,860
1,33,170014.454,700ATM14.401,13,340
1,46,490014.354,80014.401,07,400
1,23,840014.454,90014.301,24,800
11,43,630014.355,00014.0011,26,080
1,10,850014.355,10014.2096,120
80,520014.255,20014.1046,980
64,080014.155,30014.0042,930
62,610014.055,40013.9023,100
6,62,310013.955,50013.904,84,860
43,800013.855,60014.0011,070
48,060013.855,70013.8016,860
Sensex · OI ladder (±10 strikes around ATM 74,500)
CE OICE ΔCE IVStrikePE IVPE ΔPE OI
98,420013.173,50016.304,55,900
21,820013.173,60016.301,85,720
29,660013.273,70016.201,41,020
36,880013.273,80016.102,22,480
27,820013.273,90016.002,12,160
1,97,660013.074,00015.906,40,860
1,22,960013.074,10015.802,41,680
1,84,080013.074,20015.603,34,840
1,60,640013.074,30015.602,82,820
1,63,800013.074,40015.501,85,140
3,28,140013.174,500ATM15.403,52,200
2,17,300013.074,60015.401,64,740
2,03,760012.974,70015.301,33,100
1,34,580012.974,80015.4067,280
96,580012.974,90015.4026,980
4,20,400012.875,00015.4083,920
1,19,900012.875,10015.509,980
1,26,280012.775,20015.5012,440
69,100012.675,30015.708,320
78,040012.775,40015.706,680
2,65,260012.775,50016.0022,460

Conditional scenarios · bullish / range-bound / bearish

Nifty 50
Bullish scenario
Trigger 23,318.35 · A sustained move above 23318.35 with supportive breadth may open room toward 23583.6.
Invalidates if price returns below 22,587.60.
Range-bound scenario
Range 22,587.60 — 23,318.35. Trading between 22587.6 and 23318.35 would indicate continued consolidation near the pivot at 22852.85.
Bearish scenario
Trigger 22,587.60 · A sustained break below 22587.6 may expose the 22122.1 support zone.
Invalidates if price recovers above 23,318.35.
Bias invalidation framework
Bias valid above 22,587.60 · Bearish risk below 22,122.10 · Bullish conviction above 23,318.35
Bank Nifty
Bullish scenario
Trigger 55,294.92 · A sustained move above 55294.92 with supportive breadth may open room toward 55902.88.
Invalidates if price returns below 53,852.57.
Range-bound scenario
Range 53,852.57 — 55,294.92. Trading between 53852.57 and 55294.92 would indicate continued consolidation near the pivot at 54460.53.
Bearish scenario
Trigger 53,852.57 · A sustained break below 53852.57 may expose the 53018.18 support zone.
Invalidates if price recovers above 55,294.92.
Bias invalidation framework
Bias valid above 53,852.57 · Bearish risk below 53,018.18 · Bullish conviction above 55,294.92
Sensex
Bullish scenario
Trigger 75,296.56 · A sustained move above 75296.56 with supportive breadth may open room toward 76133.59.
Invalidates if price returns below 73,068.54.
Range-bound scenario
Range 73,068.54 — 75,296.56. Trading between 73068.54 and 75296.56 would indicate continued consolidation near the pivot at 73905.57.
Bearish scenario
Trigger 73,068.54 · A sustained break below 73068.54 may expose the 71677.54 support zone.
Invalidates if price recovers above 75,296.56.
Bias invalidation framework
Bias valid above 73,068.54 · Bearish risk below 71,677.54 · Bullish conviction above 75,296.56

Scenarios are conditional and use rule-based technical zones. Not personalised trading or hedging recommendations.

Market breadth & sector confirmation

Advances vs declines
2,5486,9890.36× A/D
Strong Negative Breadth
52W highs / lows
60211
Sector participation
3up10down
Leading: IT, Healthcare, Pharma
Lagging: Consumer Durables, Media, Energy

Heavyweight contribution

Top positive Nifty 50 movers
  1. TRENT
    TRENT LTD
    +5.44%
  2. INDIGO
    INTERGLOBE AVIATION LTD
    +4.33%
  3. INFY
    INFOSYS LIMITED
    +3.36%
  4. APOLLOHOSP
    APOLLO HOSPITALS ENTER. L
    +3.02%
  5. POWERGRID
    POWER GRID CORP. LTD.
    +1.92%
Top negative Nifty 50 movers
  1. SHRIRAMFIN
    SHRIRAM FINANCE LIMITED
    -2.13%
  2. NESTLEIND
    NESTLE INDIA LIMITED
    -1.82%
  3. M&M
    MAHINDRA & MAHINDRA LTD
    -1.72%
  4. JIOFIN
    JIO FIN SERVICES LTD
    -1.21%
  5. ADANIPORTS
    ADANI PORT & SEZ LTD
    -1.18%

Nifty 50 constituents (screener_snapshots) · % change is a proxy for approximate index-point contribution.

Institutional positioning (FII / DII)

As of 30-Oct-2026
FII cash segment
Net+3,599₹ cr
Buy+20,564₹ cr
Sell+16,965₹ cr
DII cash segment
Net-818₹ cr
Buy+16,644₹ cr
Sell+17,461₹ cr

Events that could change the technical setup

Later this week
  1. 23:30USFOMC Rate Decision + Powell PresserAll marketsGoldSilver
  2. 23:30USUS Non-Farm Payrolls (Oct)GoldSilverUSD/INR
  3. 23:30USUS CPI (Oct)GoldSilverUSD/INR
  4. 23:30USUS Non-Farm Payrolls (Nov)GoldSilverUSD/INR
  5. 23:30USUS CPI (Nov)GoldSilverUSD/INR
  6. 23:30USFOMC Rate Decision + Powell Presser (SEP)All marketsGoldSilver

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