Introduction

After a week of steady gains and fresh record highs, the Indian markets showed signs of mild fatigue on October 23, as traders booked profits near the top. Both Nifty 50 and Bank Nifty witnessed intraday volatility, but the overall trend remains bullish — supported by rising moving averages, stable global cues, and consistent institutional inflows.

In this Trade Setup for 24 October 2025, dhwani patel, SEBI registered research analyst, breaks down the key Nifty and Bank Nifty levels, along with option data, volatility trends, and 10 actionable setups to help traders plan their positions effectively.

Setup 1 — Nifty 50: Key Resistance & Support Levels

Nifty Close: 25,891

• Resistance based on Pivot Points: 26,045, 26,102, 26,194
• Support based on Pivot Points: 25,860, 25,803, 25,711

Market Outlook:
Nifty formed a bearish candle with a small upper wick, indicating some selling at higher zones. However, the higher high–higher low pattern remains undisturbed — a sign that the uptrend is still healthy.

The index continues to trade comfortably above all key moving averages, and momentum indicators like the RSI (in the 60–70 range) and a rising MACD suggest that underlying strength persists despite short-term consolidation.

Interpretation:

• A move above 26,045 can trigger fresh buying toward 26,194.
• Immediate support rests at 25,803–25,711; holding these levels keeps the structure positive.
• Dips toward the 25,800 zone may attract institutional accumulation.

For traders following a Nifty futures trading guide, it’s a classic continuation phase — not an exit zone, but a time for patience and risk management.

Setup 2 — Bank Nifty: Pivot & Fibonacci Levels

Bank Nifty Close: 58,078

• Resistance based on Pivot Points: 58,441, 58,589, 58,828
• Support based on Pivot Points: 57,963, 57,815, 57,576
• Resistance based on Fibonacci Retracement: 58,735, 60,142
• Support based on Fibonacci Retracement: 57,394, 56,661

Market Outlook:
Bank Nifty briefly surpassed 58,500, recording a new all-time high before encountering resistance. The day’s candle reflects selling pressure at intraday highs, but the broader uptrend remains fully intact.

Moving averages continue their upward slope, and the RSI, elevated near 76, confirms strong momentum. The MACD also supports the positive trend, showing no early signs of reversal.

Interpretation:

• A breakout above 58,589 could propel the index toward 58,735–60,000.
• Support lies near 57,800, with deeper cushions near 57,394.
• Short-term dips are part of natural trend digestion and not signs of weakness.

For those applying index futures trading strategies India, this setup favors tactical longs on intraday declines, with tight stop-loss placement below 57,600.

Setup 3 — Nifty Call Options Data

• Highest Call OI: 26,500 (1.47 crore contracts) — key resistance zone.
• Next Resistances: 26,200 (1.17 crore), 26,000 (1.14 crore).
• Fresh Call Writing: 26,500 (+53.82L), 26,200 (+50.28L), 26,100 (+49.19L).
• Call Unwinding: 25,900 (–22.25L), 25,800 (–19.15L).

Analysis:
Aggressive call writing above 26,000 indicates cautious optimism — traders are booking gains near upper levels. The 26,200–26,500 range may act as a short-term ceiling unless fresh momentum emerges.

Setup 4 — Nifty Put Options Data

• Highest Put OI: 25,500 (1.03 crore) — strong base.
• Next Supports: 25,700 (68.9L), 26,000 (68.8L).
• Put Writing: 26,000 (+33.08L), 26,100 (+29.31L), 25,750 (+16.12L).

Analysis:
Active Put writing around 26,000 shows confidence among buyers. As long as these strikes hold, the broader sentiment remains constructive, even amid mild corrections.

Setup 5 — Bank Nifty Call Options Data

• Highest Call OI: 60,000 (13.79L).
• Next Resistances: 58,500 (12.91L), 58,000 (12.81L).
• Fresh Call Writing: 58,500 (+4.04L), 58,800 (+3.19L).

Analysis:
Call writers are defending 58,500–58,800, signaling potential near-term resistance. A breakout above this zone could lead to short-covering, propelling prices toward 59,500–60,000.

Setup 6 — Bank Nifty Put Options Data

• Highest Put OI: 57,000 (19.65L).
• Next Supports: 58,000 (10.22L), 57,500 (9.15L).
• Fresh Put Writing: 58,500 (+3.78L), 58,300 (+1.85L).

Analysis:
Put writers remain active near 58,000 — a sign of confidence that the index will not see a deep correction in the immediate term.

Setup 7 — Volatility Index (India VIX)

India VIX: 11.73 (+3.85%)

The VIX rose modestly, reflecting a slight uptick in uncertainty after a smooth rally. While current levels remain manageable, traders should be cautious if volatility sustains above 13–14 in the coming sessions.

As dhwani patel emphasizes,
“Volatility doesn’t end bull markets — it just resets trader confidence.”

Setup 8 — Sectoral Rotation Watch

• Banking: Dominates momentum; PSU banks show leadership.
• IT & Auto: Likely to remain steady amid rotational flows.
• Metals: Witnessing profit booking after sustained gains.
• Pharma & FMCG: Defensive plays showing renewed interest.

For swing trading strategies India, aligning with sectoral leadership continues to offer the best risk-reward setups.

Setup 9 — Intraday Trade Plan

Index	Bullish Above	Bearish Below	Neutral Zone
Nifty 50	26,045	25,803	25,850–26,000
Bank Nifty	58,589	57,815	58,000–58,400

Strategy:

• Favor long trades above resistance breakouts with volume confirmation.
• Use defined stop-losses for each position — volatility could expand near expiry.
• Trail profits actively in momentum trades.

Setup 10 — dhwani patel’s View

“After a sustained run, short-term profit booking is natural — but trend traders should not confuse pauses with reversals. As long as Nifty stays above 25,800 and Bank Nifty above 57,800, the market retains its bullish tone.”

The Trade Setup for 24 October 2025 signals consolidation within strength. Momentum remains intact, and dips continue to offer opportunities to align with the broader trend.

Key Takeaways

• Nifty Range: 25,700–26,200
• Bank Nifty Range: 57,800–58,800
• Market Tone: Bullish with mild volatility
• Strategy: Buy-on-dips; maintain trailing stops; avoid heavy leverage.

Final Thoughts

The market is digesting its gains — not reversing. Traders should focus on managing exposure, protecting profits, and letting the trend evolve naturally.

As dhwani patel aptly says —

“The best traders don’t chase moves — they prepare for them. Control your risk; the market will handle the rest.”

Disclosure & Disclaimer: dhwani patel (SEBI Registration No. INH200008608) is a SEBI registered research analyst. The information provided is for educational purposes only and does not constitute investment or trading advice. Trading in financial markets carries risk. Readers should perform their own analysis.