Pre-Market Outlook 23 October 2025: Nifty & Bank Nifty Face Crucial Resistance | Sector-Wise Setup & Gift Nifty Insights
By CapitalKeeper | Pre Market Opening | Indian Equities | Market Moves That Matter
Indian stock market pre-market analysis for 23 Oct 2025 Nifty near major resistance at 26,300, Bank Nifty faces selling pressure near 58,500. Sector-wise insights, support-resistance levels, and global cues for traders and investors.
🔍 Pre-Market Analysis – 23rd October 2025
The Indian markets ended the previous session on a firm note with Nifty closing at 25,868.60, Bank Nifty at 58,007.20, Sensex at 84,426.34, and Fin Nifty at 27,536.85. However, as we enter the final sessions before the October expiry, several technical indicators suggest that the market is now entering a crucial resistance zone where short-term consolidation or correction looks highly probable.
🧭 Global Market Cues & Gift Nifty Overview
Gift Nifty is showing signs of exhaustion after a steep rally of over 1500+ points in just four sessions. The index has now filled its pending September 2024 upside gap, meaning all upper gaps have been closed a signal that upside momentum may soon pause.
- Gift Nifty Resistance Zones: 26,300 (Trendline resistance) and 26,400 (0.5 Fibonacci resistance)
- If breached: The next hurdle sits near 26,850, but probability favors a correction from the current resistance cluster.
- Support zones: 25,500 and 25,250 (Fibonacci + Trendline support)
Technically, after a 6% surge in less than a week, the market is due for a healthy retracement of 1,000–1,200 points to sustain the larger bullish structure. Traders should note that while the index has rallied, portfolio or broader market stocks have largely underperformed a warning sign of narrow leadership and potential short-term fatigue.
🇮🇳 Domestic Market Overview
🧩 Nifty 50 Technical View
- Previous Close: 25,868.60
- Immediate Resistance: 26,300–26,400
- Immediate Support: 25,500–25,250
- Trend: Overextended mild correction possible
The Nifty has gained momentum on large-cap heavyweights, especially Reliance, ICICI Bank, and HDFC Bank. However, RSI readings on hourly charts are above 75, and MACD is showing early bearish divergence signaling potential distribution near the top.
A pullback towards 25,500–25,250 would be healthy, offering fresh entry opportunities for positional traders.
🏦 Bank Nifty Technical View
- Previous Close: 58,007.20
- Immediate Resistance: 58,500 (Trendline + Fibo confluence)
- Next Resistance: 59,750
- Support Zone: 56,000
Bank Nifty has rallied nearly 4,500 points from its recent swing low, showing sharp momentum without any retracement. Historically, such vertical rallies are followed by profit-booking phases of at least 2,000+ points.
As per Fibonacci projections, 58,500 marks a strong reversal zone, and traders should remain cautious near this level. A reversal towards 56,000 cannot be ruled out.
🧭 Important Observations
- All upside gaps (since September 2024) are filled, indicating limited room for further upside in the near term.
- Downside gaps remain open till 22,000 on Nifty and 51,000 on Bank Nifty, which could attract selling pressure over the coming weeks.
- Market breadth remains weak despite index gains suggesting institutional rotation into defensives.
📈 Sector-Wise Technical Outlook
⚙️ Nifty Midcap Index
- CMP: 59,338
- Breakout Zone: 60,000–60,100
- Support: 58,100–58,200
- Trend: Range-bound until breakout
The Midcap index has completed a clean trendline breakout but faces a psychological barrier at 60,000. A sustained move above this level could trigger a 3–5% rally, while a rejection may lead to consolidation between 58,000–60,000.
💊 Nifty Pharma Index
- Resistance Zone: 23,150–23,200
- Support Zone: 20,500
- Technical View: Sideways
Pharma is struggling to break above 23,200, its multi-month resistance. The sector needs a healthy correction below 20,500 to complete its current Elliott Wave structure before resuming any major uptrend. Traders should remain cautious no significant movement expected until a close above 23,200.
⚡ Nifty Energy Index
- Range: 34,800–36,200
- Support: 33,500–33,600
- Trend: Narrow range consolidation
Energy stocks like ONGC and Power Grid are keeping the index afloat. However, a decisive breakout above 36,200–36,250 is needed for a fresh rally. Downside risk remains limited unless we break below 33,500.
🔸 ONGC Idea: 250 CE @ ₹6.55 (November) | SL ₹4 | Targets ₹10–₹15
This trade aligns with Energy index strength and should perform if the breakout sustains.
💹 Stock Ideas & Trade Setups
🔸 Paytm (CMP ₹1,300 CE at ₹64–65) – November Series
- Stop Loss: ₹50
- Targets: ₹80–100
- Paytm has been forming a consolidation base. Above ₹1,310, momentum could pick up. Keep tight SL for options position.
🔸 Pokarna (CMP ₹805) – Short-Term Buy
- Strong support near ₹782 zone
- Potential upside towards ₹830–₹850
- Looks technically attractive with low risk and strong accumulation base
🔸 Rajratan Global Wire (CMP ₹413.70) – Accumulate for Swing
- Good reversal pattern near key support zone
- Short-term targets ₹455–₹470
- Volume surge indicates early accumulation
🌎 Global Market Recap
- US Markets: Dow Jones and Nasdaq faced mild profit booking as Fed Chair Jerome Powell reiterated that “US equities are fairly and highly valued.” This hawkish tone triggered minor risk-off sentiment globally.
- Asian Markets: Mixed cues Nikkei showing resilience, while Hang Seng and Kospi under pressure due to global bond yield uptick.
- Crude Oil: Stable near $85/barrel; any surge above $88 could trigger inflationary concerns.
- USD-INR: Hovering around 83.18 stable, but foreign inflows continue supporting rupee strength.
🔮 Summary & Nifty Outlook for 23rd–25th October 2025
| Index | Trend | Resistance | Support | View |
|---|---|---|---|---|
| Nifty 50 | Overbought | 26,300–26,400 | 25,500–25,250 | Mild Correction Likely |
| Bank Nifty | Exhausted | 58,500 | 56,000 | Reversal Possible |
| Midcap Index | Neutral | 60,100 | 58,100 | Range-bound |
| Pharma Index | Flat | 23,200 | 20,500 | Sideways |
| Energy Index | Positive | 36,200 | 33,600 | Bullish Bias |
🧠 Final Thoughts
After a rapid 1,500+ point move in Nifty without any pause, the market is at an inflection zone. Gift Nifty’s filled gaps, strong Fibonacci resistances, and overbought technicals all suggest that a short-term correction could provide better entry opportunities ahead of the November series.
For now, traders should book partial profits, tighten stop-losses, and focus on quality setups like Pokarna, Rajratan, and ONGC, which show strong relative strength even in a potential consolidation phase.
📌 For daily trade setups, technical learning, and smart investing tips, stay tuned to CapitalKeeper.in
📌 For more real-time updates, trade setups, and investment insights — follow us on [Telegram] and [WhatsApp Channel] subscribe to our newsletter!
Subscribe Now , Join Telegram the Crypto Capital Club, Get Free Crypto Updates
📌 Disclaimer
The content provided on CapitalKeeper.in is for informational and educational purposes only and does not constitute investment, trading, or financial advice. While we strive to present accurate and up-to-date market data and analysis, we make no warranties or representations regarding the completeness, reliability, or accuracy of the information.
Stock market investments are subject to market risks, and readers/investors are advised to conduct their own due diligence or consult a SEBI-registered financial advisor before making any investment decisions. CapitalKeeper and its authors are not liable for any loss or damage, direct or indirect, arising from the use of this information.
All views and opinions expressed are personal and do not reflect the official policy or position of any agency or organization. Past performance is not indicative of future results.By using this website, you agree to the terms of this disclaimer.
Ranjit Sahoo
Founder & Chief Editor – CapitalKeeper.in
Ranjit Sahoo is the visionary behind CapitalKeeper.in, a leading platform for real-time market insights, technical analysis, and investment strategies. With a strong focus on Nifty, Bank Nifty, sector trends, and commodities, she delivers in-depth research that helps traders and investors make informed decisions.
Passionate about financial literacy, Ranjit blends technical precision with market storytelling, ensuring even complex concepts are accessible to readers of all levels. Her work covers pre-market analysis, intraday strategies, thematic investing, and long-term portfolio trends.
When he’s not decoding charts, Ranjit enjoys exploring coastal getaways and keeping an eye on emerging business themes.
📌 Follow Ranjit on:
LinkedIn | Twitter/X | Instagram | ✉️ contact@capitalkeeper.in