Introduction

The Indian markets took a brief pause on October 30, with both Nifty 50 and Bank Nifty facing mild selling pressure after several sessions of strong gains. The indices showed fatigue near higher levels as traders opted for profit booking ahead of the weekly expiry.

While the broader trend remains constructive, early signs of short-term consolidation have begun to appear. In this Trade Setup for 31 October 2025, Dhwani Patel, SEBI registered research analyst, shares the key pivot levels, momentum indicators, and option data shaping today’s outlook.

Setup 1 — Nifty 50: Key Resistance & Support Levels

Nifty Close: 25,878

• Resistance (Pivot Points): 25,990 / 26,034 / 26,105
• Support (Pivot Points): 25,847 / 25,803 / 25,731

Market Outlook:
The Nifty 50 formed a bearish candle on the daily charts and slipped below its 5-day EMA, a technical sign of short-term caution. However, the index remains well above its 20-day and 50-day moving averages, keeping the broader structure intact.

The RSI dropped to 64.14, showing weakening momentum, and the Stochastic RSI also indicated a negative crossover, reinforcing near-term fatigue. The MACD continued to maintain its bullish crossover, though the histogram has been gradually narrowing — a classic signal of momentum loss.

Interpretation:

• Resistance zones: 26,034–26,105
• Supports: 25,803–25,731
• Sustaining above 25,847 will be key for intraday recovery attempts.
• A close below 25,731 could open the door to 25,600 levels.

From a Nifty futures trading guide perspective, traders should adopt a cautious stance — prefer buying dips with stop-losses rather than chasing breakouts.

Setup 2 — Bank Nifty: Key Resistance & Support Levels

Bank Nifty Close: 58,031

• Resistance (Pivot Points): 58,247 / 58,326 / 58,452
• Support (Pivot Points): 57,994 / 57,915 / 57,788
• Resistance (Fibonacci Retracement): 58,739 / 60,148
• Support (Fibonacci Retracement): 57,394 / 56,662

Market Outlook:
The Bank Nifty mirrored Nifty’s pattern, forming a bearish candle with an upper shadow, reflecting selling pressure at higher levels. The index is still comfortably above all major moving averages, which continue to trend northward — a reminder that the larger trend remains positive despite the current pullback.

The RSI eased to 66.98, while both the Stochastic RSI and the MACD histogram showed weakening momentum. The MACD, however, maintains its bullish crossover, suggesting that the weakness is corrective rather than structural.

Interpretation:

• Resistance zone: 58,326–58,452
• Support: 57,915–57,788
• Sustaining below 57,900 could trigger short-term profit booking toward 57,400.
• A rebound above 58,300 may renew momentum toward 58,700 levels.

For those following index futures trading strategies India, a mixed-to-cautious tone is advised — long positions should be lightened near resistances, while new entries should be on pullbacks.

Setup 3 — Nifty Call Options Data

• Max Call OI: 26,000 (1.45 crore contracts) → key resistance
• Next Resistances: 26,200 (1.12 crore), 26,100 (1.06 crore)
• Fresh Call Writing: 26,000 (+48.3 lakh), 26,100 (+37.2 lakh)

Interpretation:
The 26,000 level has become a decisive ceiling for the market, with traders aggressively writing Calls at this strike. Until a clear breakout occurs, upward movement could remain capped near 26,100.

Setup 4 — Nifty Put Options Data

• Max Put OI: 25,800 (1.22 crore contracts) → strong support
• Next Supports: 25,700 (1.01 crore), 25,500 (0.93 crore)
• Fresh Put Writing: 25,800 (+42.7 lakh), 25,700 (+35.9 lakh)

Interpretation:
The 25,700–25,800 zone is emerging as the base support for the Nifty, suggesting that dips toward these levels could see strong buying interest. However, a break below this range could attract short-term selling pressure.

Setup 5 — Bank Nifty Call Options Data

• Max Call OI: 58,500 → key resistance
• Next Resistances: 59,000, 60,000
• Fresh Call Writing: 58,500 (+2.94L), 58,000 (+1.63L)

Interpretation:
Strong Call writing at 58,500 confirms that the index could face a temporary hurdle at this zone. Intraday momentum may remain limited unless a breakout above 58,550 occurs with strong volumes.

Setup 6 — Bank Nifty Put Options Data

• Max Put OI: 57,500 → key support
• Next Supports: 57,000, 56,500
• Fresh Put Writing: 57,500 (+3.28L), 57,800 (+2.67L)

Interpretation:
Put writers remain confident near 57,800–57,500, reflecting that downside risk remains contained for now. However, sustained selling below 57,700 could invite more volatility.

Setup 7 — India VIX (Volatility Index)

India VIX: 11.98 (+0.9%)

Volatility edged slightly higher, hinting at a bit of nervousness among traders. The fear gauge remains within the comfort zone, but a rise beyond 13 could change sentiment sharply.

As Dhwani Patel points out,
“A stable VIX means calm traders — but complacency can turn quickly if risk isn’t respected.”

Setup 8 — Sectoral Outlook

• Banking & Financials: Facing minor profit booking; momentum intact.
• IT & Pharma: Defensive buying emerging.
• Auto & FMCG: Stable and consolidating after recent rallies.
• Metals & Realty: Show signs of exhaustion; limited upside in near term.

For swing trading strategies India, it’s time to focus on high-conviction trades rather than broad participation. Selectivity will outperform aggression in this phase.

Setup 9 — Intraday Playbook

Index	Bullish Above	Bearish Below	Neutral Zone
Nifty 50	26,034	25,803	25,850–26,000
Bank Nifty	58,326	57,915	58,000–58,250

Strategy:

• Avoid chasing long positions unless Nifty closes above 26,050.
• Book partial profits on existing longs near resistances.
• For short trades, maintain small positions with tight stops below 25,700.

Setup 10 — Dhwani Patel’s View

“Momentum is slowing, not reversing. The market is catching its breath — and that’s healthy for a sustained trend.”

The Trade Setup for 31 October 2025 reflects a cautious yet intact bullish structure. As long as Nifty stays above 25,700 and Bank Nifty above 57,500, traders can remain constructive but must reduce leverage and protect profits.

Key Takeaways

• Nifty Range: 25,700–26,100
• Bank Nifty Range: 57,800–58,400
• Market Bias: Mildly positive with near-term consolidation
• Strategy: Defensive longs; trim exposure; trail profits.

Final Thoughts

After weeks of consistent gains, the market is displaying signs of short-term fatigue. The tone remains positive, but this phase calls for patience and precision. Traders should treat this as a cooling period, not a reversal.

As Dhwani Patel often emphasizes —

“When markets slow down, traders shouldn’t — they should sharpen their discipline instead.”

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.