Introduction

The domestic equity market closed Monday’s session on a mixed note, as Nifty 50 paused near the psychological mark of 26,000, forming a pattern that suggests short-term indecision. Meanwhile, Bank Nifty extended its gains modestly, holding firmly above 58,000 levels — a sign that the bullish undertone remains alive, even as traders wait for fresh triggers ahead of expiry week.

In this Trade Setup for 29 October 2025, dhwani patel, SEBI registered research analyst, outlines the key levels, derivative data, and technical outlook for both indices. The goal: help traders plan effectively amid ongoing consolidation and moderate volatility.

Nifty 50: Key Resistance & Support Levels

Nifty Close: 25,936

• Resistance (Pivot Points): 26,018 / 26,072 / 26,161
• Support (Pivot Points): 25,841 / 25,786 / 25,698

Market Outlook:
The Nifty formed a Doji candle on the daily chart — a sign that buyers and sellers reached a temporary equilibrium after recent bullish momentum. While the candle indicates indecision, the broader structure continues to favor the bulls.

All major moving averages, from 5-day EMA to 100-day SMA, are aligned upward, confirming a strong intermediate uptrend. The 5-day EMA continues to act as an immediate dynamic support since early October. The RSI remains elevated at 70+, showing persistent buying strength, while the MACD continues to rise with a healthy histogram above the zero line.

Interpretation:

• Resistance is visible near 26,018–26,161; a breakout above this could lead to a swift move toward 26,250–26,300.
• Strong buying support lies near 25,786–25,698, with the 25,850 zone acting as a pivot for short-term trend control.
• The uptrend remains intact; what we’re witnessing is a pause, not reversal.

For those following the Nifty futures trading guide, this is a time to trail stops and stay aligned with the dominant trend instead of pre-empting reversals.

Bank Nifty: Key Resistance & Support Levels

Bank Nifty Close: 58,214

• Resistance (Pivot Points): 58,307 / 58,435 / 58,643
• Support (Pivot Points): 57,892 / 57,764 / 57,556
• Resistance (Fibonacci Retracement): 58,739 / 60,148
• Support (Fibonacci Retracement): 57,394 / 56,662

Market Outlook:
The Bank Nifty outperformed Nifty, forming a bullish candle with a visible lower shadow, indicating strong buying on dips. It added around 100 points, maintaining leadership within the broader market.

Technically, the index remains above all key moving averages, with each one trending northward. The RSI at 72.88 reflects overbought but steady conditions — a sign of strength rather than exhaustion. The MACD continues to support the positive bias, with its histogram comfortably above zero.

Interpretation:

• Support zones are placed at 57,892–57,556, and resistance lies between 58,435–58,643.
• The trend structure favors accumulation on intraday declines, especially if the index holds above 57,900.
• Dips continue to attract institutional buying, indicating that momentum traders may stay active in the banking space.

From an index futures trading strategies India standpoint, traders can maintain a buy-on-dips approach with a stop-loss below 57,700 and a potential upside target near 58,700–59,000.

Setup 3 — Nifty Call Options Data

• Max Call OI: 26,000 (68.74L) → key resistance
• Next Resistances: 26,500 (52.23L), 26,200 (49.12L)
• Fresh Call Writing: 26,000 (+42.75L), 26,200 (+23.89L), 26,500 (+23.6L)

Interpretation:
Heavy Call writing at 26,000 indicates that this level could act as a near-term ceiling unless a strong breakout occurs. Traders appear to be building defensive positions at higher strikes, preparing for range-bound activity ahead of expiry.

Setup 4- Nifty Put Options Data

• Max Put OI: 25,500 (50.61L) → strong support
• Next Supports: 26,000 (45.82L), 25,400 (43.71L)
• Fresh Put Writing: 25,400 (+30.57L), 25,500 (+26.93L), 26,000 (+23.85L)

Interpretation:
Put writers have been aggressive around 25,500–26,000, confirming solid demand zones. This suggests that bulls are willing to defend the lower half of the current range with conviction.

Setup 5 — Bank Nifty Call Options Data

• Max Call OI: 57,000 (10.92L)
• Next Resistances: 58,000 (8.61L), 60,000 (7.45L)
• Fresh Call Writing: 58,500 (+2.36L), 60,000 (+1.76L), 58,000 (+1.32L)

Interpretation:
Call writers have started building positions in the 58,000–58,500 range, suggesting mild resistance near current market levels. However, the absence of major unwinding at lower strikes shows traders’ confidence that the trend remains stable.

Setup 6 — Bank Nifty Put Options Data

• Max Put OI: 58,000 (14.99L) → strong base
• Next Supports: 57,000 (11.41L), 56,500 (4.36L)
• Fresh Put Writing: 58,000 (+5.85L), 58,500 (+1.03L), 56,500 (+0.96L)

Interpretation:
Strong Put writing at 58,000 signals that this level is now a firm support. Any short-term decline toward this area could see renewed buying.

Setup 7 — India VIX (Volatility Index)

India VIX: 11.95 (+0.8%)

Volatility has been inching higher but remains comfortably below the danger zone of 13–14. This level keeps market participants optimistic while providing enough room for short-term swings.

As dhwani patel explains,
“When volatility creeps up but doesn’t break thresholds, it signals controlled caution — the kind of backdrop where disciplined traders thrive.”

Setup 8 — Sectoral Snapshot

• Banking & Financials: Continue to drive the uptrend with PSU banks showing resilience.
• IT & Auto: Consolidation likely; minor corrections offer opportunities.
• Energy & FMCG: Steady; ideal for positional investors looking for stability.
• Metals: Experiencing range-bound behavior as global cues remain mixed.

For swing trading strategies India, sector rotation between banks and autos is expected to continue dominating short-term price action.

Setup 9 — Intraday Trade Plan

Index	Bullish Above	Bearish Below	Neutral Zone
Nifty 50	26,072	25,786	25,850–26,000
Bank Nifty	58,435	57,764	57,900–58,300

Strategy:

• Focus on buying near supports, not chasing rallies.
• Avoid aggressive shorting while trend indicators remain positive.
• Trail profits closely — expiry volatility could trigger intraday reversals.

Setup 10 — Dhwani Patel’s View

“When markets pause after a rally, it’s not fatigue — it’s composure. True trends mature through patience, not panic.”

The Trade Setup for 29 October 2025 reflects short-term indecision with a broader bullish context. Both indices remain above key moving averages, and derivatives positioning confirms that buyers still have control.

Nifty’s immediate range: 25,800–26,100
Bank Nifty’s short-term range: 57,800–58,600

The base formation at these levels suggests that any dip toward supports is likely to attract fresh buying.

Key Takeaways

• Nifty 50: Holding above 25,850 keeps bias positive.
• Bank Nifty: Momentum steady; support near 57,800.
• Market Tone: Consolidation within an uptrend.
• Strategy: Accumulate on dips with tight stop-losses.

Final Thoughts

With both Nifty and Bank Nifty sustaining above crucial moving averages, the broader trend remains bullish, though momentum is temporarily easing. Traders should avoid overleveraging and instead capitalize on controlled volatility through disciplined setups.

As Dhwani Patel puts it:

“Strong markets don’t need constant rallies — they need consistent conviction.”

Disclosure & Disclaimer: dhwani patel (SEBI Registration No. INH200008608) is a SEBI registered research analyst. The information shared here is intended for educational purposes only and should not be construed as investment or trading advice. Market participation carries inherent risks — readers are advised to perform due diligence or seek professional advice before acting on any information.