Nifty Hits the 26K Wall—Market Awaits the Spark for a Big LeapAfter six consecutive gains, the Indian benchmark Nifty paused on Friday and slipped slightly from its recent highs, mainly due to profit booking.
Despite the mild correction, the index still ended the week in green, registering modest gains — a sign that the broader market sentiment remains upbeat.
Meanwhile, The India VIX declined 0.30% to 11.59, pointing to subdued market volatility.
Technical View:
On the charts, Nifty attempted a breakout above the 26,000 mark but couldn’t sustain above it.
According to Open Interest (OI) data:
● Resistance: 26,000 remains the strong resistance zone, with heavy call writing indicating a supply wall.
● Support: The 25,500–25,400 zone holds firm as crucial support, backed by significant put writing activity.
Key Triggers for the Week Ahead:
1. US Fed Meeting (Oct 28–29)
Markets will watch closely as the Federal Reserve meets this week. Experts widely expect a rate cut to support growth and ease borrowing costs.
2. Q2 FY26 Earnings Season
The ongoing earnings season will continue to drive stock-specific moves as major Indian corporates announce their quarterly results.
3. US–China Presidential Meeting
Investors will keep an eye on global cues from the upcoming U.S.–China talks, which could influence global sentiment and trade outlook.
4. India–US Trade Deal Progress
Reports suggest India is close to finalising a trade pact with the U.S. — a move that could further boost investor confidence if concluded smoothly.
Looking Ahead
Nifty seems to be catching its breath within a tight range of 25,400–26,000. The bias remains positive, but a decisive breakout above 26,000 is needed to confirm fresh upside momentum.
Until then, traders should focus on stock-specific opportunities, manage risk tightly and stay agile — the next breakout could set the tone for November’s trend.
