Introduction

The Indian equity markets started the final week of October on a firm note, with Nifty 50 reclaiming ground above 25,900 and Bank Nifty extending gains after last week’s mild profit booking. Both indices showed resilience despite intraday volatility, supported by strong sectoral rotation and consistent institutional flows.

In this Trade Setup for 28 October 2025, Dhwani Patel, SEBI registered research analyst, shares the updated Nifty and Bank Nifty levels, key derivative data, and 10 detailed setups to guide traders ahead of the opening bell.

Setup 1 — Nifty 50: Key Resistance & Support Levels

Nifty Close: 25,966

• Resistance (Pivot Points): 26,001 / 26,044 / 26,112
• Support (Pivot Points): 25,865 / 25,822 / 25,754

Market Outlook:
Nifty ended Monday with a bullish candle accompanied by a small upper wick — an indication of intraday profit booking near the 26,000 mark, yet a continuation of underlying buying strength.

The index remains well above all key moving averages, which continue to trend upward. The RSI has edged higher to 71.49, indicating sustained momentum, while the MACD stays positive with the histogram holding firmly above zero.

Interpretation:

• Holding above 25,865 keeps the uptrend intact.
• A breakout beyond 26,044–26,112 may lead to an advance toward 26,200.
• Consolidation between 25,820–26,000 can serve as a healthy base.

For Nifty futures trading guide followers, the market tone remains bullish, with opportunities to buy minor dips near support zones.

Setup 2 — Bank Nifty: Key Resistance & Support Levels

Bank Nifty Close: 58,114

• Resistance (Pivot Points): 58,216 / 58,351 / 58,569
• Support (Pivot Points): 57,779 / 57,644 / 57,425
• Resistance (Fibonacci Retracement): 58,739 / 60,148
• Support (Fibonacci Retracement): 57,383 / 56,652

Market Outlook:
Bank Nifty added over 400 points and printed a bullish candle with short shadows, highlighting strong buying across leading banks.

Momentum indicators remain constructive — the RSI at 72.11 confirms a rebound from the previous week’s cooling phase. The MACD continues to hold its positive crossover, though the Stochastic RSI suggests possible short-term consolidation before the next leg higher.

Interpretation:

• Resistance lies at 58,351–58,569, while 57,644–57,425 serves as a strong buy zone.
• Sustaining above 58,200 could invite renewed momentum toward 58,739–59,000.

From an index futures trading strategies India perspective, dips near 57,700 may offer an opportunity to re-enter long positions with defined stops.

Setup 3 — Nifty Call Options Data

• Max Call OI: 26,500 (1.72 crore) → key resistance
• Next Resistances: 26,100 (1.28 crore), 26,000 (1.2 crore)
• Fresh Call Writing: 26,550 (+8.74L), 26,350 (+3.73L), 26,050 (+3.66L)
• Call Unwinding: 25,900 (–67.68L), 25,800 (–56.59L), 26,000 (–57.96L)

Interpretation:
Call writers are defending higher zones aggressively, especially between 26,100–26,500. The unwind at lower strikes reflects a possible transition from profit booking to reaccumulation — a bullish signal if follow-through buying appears.

Setup 4 — Nifty Put Options Data

• Max Put OI: 25,900 (1.36 crore) → strong base
• Next Supports: 25,500 (1.32 crore), 26,000 (1.22 crore)
• Fresh Put Writing: 25,900 (+98.98L), 26,000 (+82.16L), 25,950 (+53.47L)

Interpretation:
Robust Put writing near 25,900–26,000 highlights that traders view this area as firm support. Any dips into this zone are likely to attract fresh buying interest.

Setup 5 — Bank Nifty Call Options Data

• Max Call OI: 59,000 (14.79L) → strong resistance
• Next Resistances: 58,500 (13.99L), 60,000 (13.22L)
• Fresh Call Writing: 58,200 (+1.26L), 58,900 (+1.08L), 59,200 (+0.93L)
• Call Unwinding: 59,500 (–5.29L), 58,000 (–3.92L)

Interpretation:
Call writing at 58,200–58,900 indicates short-term overhead supply. A decisive breakout beyond 58,500 could trigger short covering toward 59,000–59,200.

Setup 6 — Bank Nifty Put Options Data

• Max Put OI: 58,000 (19.01L) → strong support
• Next Supports: 57,000 (14.48L), 56,500 (11.88L)
• Fresh Put Writing: 58,000 (+11.53L), 58,100 (+5.49L), 58,200 (+4.94L)

Interpretation:
Put writers have established a firm floor at 58,000, showing traders’ confidence in sustaining the bullish tone.

Setup 7 — Volatility Index (India VIX)

India VIX: 11.86 (+2.31%)

Volatility edged higher, but still stays below the comfort threshold of 13–14. This continues to favor the bulls, though traders should remain alert for sharp intraday swings as expiry approaches.

“Markets may look calm on the surface, but volatility builds quietly beneath it,” notes Dhwani Patel.

Setup 8 — Sectoral Trends

• Banks: Remain market leaders; PSU banks continue to outperform.
• IT & Auto: Maintain steady strength amid range-bound moves.
• Metals: See mild profit-taking.
• Pharma & FMCG: Defensive sectors witnessing renewed buying.

For swing trading strategies India, maintaining focus on large-cap banking and auto counters offers strong short-term setups.

Setup 9 — Intraday Playbook

Index	Bullish Above	Bearish Below	Neutral Zone
Nifty 50	26,044	25,822	25,880–26,000
Bank Nifty	58,351	57,644	57,800–58,200

Strategy:

• Maintain long bias as long as key supports hold.
• Book partial profits near resistance zones.
• Avoid counter-trend shorting in the current structure.

Setup 10 — Dhwani Patel’s View

“Momentum is healthy and participation is broad-based. Small consolidations are the price markets pay for stability — not a signal of weakness.”

The Trade Setup for 28 October 2025 reaffirms strength in both indices, with Nifty holding above 25,900 and Bank Nifty defending 58,000. Short-term volatility may continue, but the primary trend stays upward.

Key Takeaways

• Nifty Range: 25,850–26,150
• Bank Nifty Range: 57,800–58,600
• Market Bias: Bullish with controlled volatility
• Strategy: Hold longs with trailing stops; buy dips near support.

Final Thoughts

With both indices trading above key moving averages and option data confirming strong support at lower levels, the trend remains favorable for positional traders. Minor pullbacks can be used to accumulate quality positions in leading sectors.

As Dhwani Patel summarizes —

“A calm trend hides opportunity. Focus on structure, not noise.”

Disclosure & Disclaimer: dhwani patel (SEBI Registration No. INH200008608) is a SEBI registered research analyst. The information provided is for educational purposes only and should not be interpreted as investment or trading advice. Markets involve risk — readers are advised to conduct their own analysis before trading or investing.