Daily Morning Report Date: 08.10.2025
NIFTY OUTLOOK: 25108.30 FII: 1440.66 cr DII: 452.57 cr
As discussed yesterday, market behaviour remained on expected lines during the session. Strong buying confidence and sustained bullish momentum carried Nifty up to our resistance of 25217, marking a high of 25220.90.
After this smart rally, a shooting star candlestick pattern appeared near the resistance level on the daily chart, indicating weakening buying strength and a potential pause to the current bullish trend — a signal for possible profit booking. If such profit booking persists, then on a decisive breakdown of 25063, Nifty may slip further to 25018–24973, with strong supply possibly extending the decline to 24928.
However, in the absence of clear confirmation and with Tuesday’s close above Monday’s close, short-term positive sentiment remains intact. Immediate resistance is placed around 25153–25200. A sustained move above these levels could push Nifty further to 25243–25289.
BANK NIFTY OUTLOOK:
SPOT: 56239.35 PCR: 1.09 Max CE OI: 57000 Max PE OI: 55000
On 7th October 2025, Bank Nifty closed at 56239.35, up by 134.50 points (0.24%), with an intraday movement of 477.40 points. The index made a high of 56502.45 and a low of 56025.05.
Technical View:
Key support and resistance levels are 55200 and 56350, respectively.
Intraday support and resistance are at 56108 and 56371.
Intraday Technical Strategy:
Go long above 56371 with a stop loss at 56327 and target 56502.
Go short below 56108 with a stop loss at 56152 and target 55977.
The Relative Strength Index (RSI) for the Nifty Bank index stands at 64.7, indicating a positive bias; 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.
No candlestick Pattern was identified in bank nifty.
Macros
1.Dollar index is @ 98.595
2.S&P 500 @ 17.24
3.Brent crude is @ 65.97
4.US 10 years bound yield @ 4.134
Note:
British Prime Minister Keir Starmer begins a two-day visit to India on Wednesday, accompanied by over a hundred leaders from the business, cultural, and academic sectors, aiming to promote the recently signed trade deal.
Starmer is scheduled to hold bilateral talks with Prime Minister Narendra Modi on Thursday. Both sides have expressed intent to ratify the agreement and bring it into effect within the next year.
On the commodities front, bullions are hitting all-time highs, while crude is gradually inching up again after a decline from $70 to $64.
The government is actively working to diversify trade partnerships beyond the US. These efforts are beginning to take shape, though it may take another 8–12 quarters to see the full impact and scale at which these trade agreements contribute. Overall, these steps appear positive.
Contributed by
Ashok bhandari : INH000019549
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