Daily Morning Report Date: 07.10.2025
NIFTY OUTLOOK: 25077.65 FII: -313.77 cr DII: 5036.39 cr
As discussed yesterday, market behaviour remained on expected lines during the day, as the continuation of bullish momentum and strong demand took the Nifty rally up to 24995.95 on a successful breakout above 24940, and it closed near our projected level of 25077 at 25077.65.
A series of three consecutive bullish candles on the daily chart indicates strong momentum, suggesting the current uptrend is likely to continue. If Nifty sustains this northward move, then on a decisive breakout above 25124, it may rally further to 25171–25217, while stronger demand could extend gains up to 25263.
However, on the downside, 25031–24985 may act as immediate support. A breakdown below these levels may drag the index down to 24938–24891.
Bank Nifty OUTLOOK:
SPOT: 56104.85 PCR: 1.09 Max CE OI: 57000 Max PE OI: 55000
On October 6th, 2025, Bank Nifty closed at 56104.85 (+515.60 / +0.93%). The total intraday movement was 436.95 points, with a high of 56164.20 and a low of 55727.25.
Technical View:
Important support and resistance levels for Bank Nifty are 55200 and 56350 respectively.
Intraday support and resistance are at 55985 and 56225 respectively.
Intraday Technical Strategy:
Go long above 56225 with a stop loss at 56185 and a target of 56345.
Go short below 55985 with a stop loss at 56025 and a target of 55865.
The Relative Strength Index (RSI) for the Bank Nifty index is at 63.40. Below 30 is considered oversold and above 70 overbought.
Bank nifty Day SMA Analysis:
Bank nifty is trading above 8 out of 8 SMA’s (5, 10, 20, 30, 50, 100, 150, 200 Day).
Bank nifty is trading below 0 out of 8 SMA’s.
One bullish candlestick Pattern was identified in bank nifty.
• Long Line Uptrend
Macros:
- Dollar index @ 97.81
- S&P 500 @ 16.51
- Brent crude @ 65.47
- 10 years bond yield is @ 4.168
Note:
The number of Americans filing new unemployment claims rose marginally during the last week of September, indicating a stagnant labor market. While businesses are refraining from large-scale layoffs, they remain cautious about hiring amid economic uncertainty. Economists attribute this stagnation to President Donald Trump’s trade and immigration policies, coupled with the accelerating adoption of artificial intelligence, both of which have dampened labor demand and participation.
Meanwhile, U.S. holiday online sales are projected to grow at a slower pace this year. According to Adobe Analytics, sales between November 1 and December 31 are expected to rise 5.3% to $253.4 billion, compared with an 8.7% increase last year, reflecting continued pressure on consumer spending due to macroeconomic headwinds.
Tariff effects are now visibly weighing on U.S. economic momentum, signalling broader impacts across consumption and employment trends.
Contributed by
Ashok bhandari : INH000019549
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