Stock market today: The stock markets kicked off the week positively on Monday, gaining momentum ahead of significant global events such as the U.S. Federal Reserve’s interest rate decision, the upcoming meeting between U.S. President Donald Trump and Chinese President Xi Jinping, and the quarterly earnings reports from the “Magnificent 7” tech giants.
The Nifty 50 saw a climbed of 0.55%, trading at 25,938 . 25, while the BSE Sensex rose by 0.56% to 84,678.67 at 13:43 IST.
Analysts indicated that the combination of central bank actions, the Trump-Xi summit, and earnings reports from five of the Magnificent 7 companies makes this week the most significant in October.
Market Views – Vinay Rajani, Senior Technical and Derivative Analyst, HDFC Securities
Nifty 50
During last week, Nifty 50 registered a fresh 52-week high at 26,104 but witnessed some profit booking in the last two trading sessions. The index rose for the fourth consecutive week with a minor gain of 0.33%, closing at 25,795. Nifty 50 continued to maintain levels above all key moving averages, indicating the continuation of an uptrend across all time frames. However, the correction in the last two sessions resulted in a bearish “Shooting Star” candlestick pattern on the weekly chart. This pattern often signals a probable bearish trend reversal if the low of this candle is breached. Hence, any break below last week’s low of 25,718 could extend the correction.
On the downside, supports are expected near previous swing highs at 25,669 and 25,448. The downward sloping
trend line connecting these swing highs also projects support near 25,450. The recent swing high of 26,104 now acts as intermediate resistance; unless this level is surpassed, the index may continue to run a correction or consolidate. A close above 26,104 could propel Nifty 50 towards a fresh all-time high beyond 26,277 and potentially towards 26,600.
Bank Nifty and NSE 500 indices formed indecisive “Doji” patterns on the weekly charts, suggesting possible short-term downside pressure. A break below last week’s lows would confirm bearish momentum in these indices.
Nifty Midcap 100 and Smallcap 100 indices continue to struggle to break out of their medium-term consolidations; last week, they once again faced resistance at the upper band of this range. Global markets
remained buoyant with healthy gains last week, supporting domestic market sentiment. The USDINR currency pair has reached a crucial trendline support area. Sustained levels below 87.60 would confirm a bearish reversal in the dollar against the rupee. Of late, the rupee’s trend has been a leading indicator of sentiment in the Indian equity markets. A strong move below 87.60 in USDINR could positively impact the Indian equity market.
Among sectors, the Metal index stands out as the strongest, supported by a robust rally in global industrial metals. The Nifty Metal index has decisively taken out the key double-top resistance on the weekly chart, registering a fresh all-time high. LME Copper and Aluminium have also broken out from long-term consolidations, favouring domestic aluminium and copper producers.
The IT sector also looks promising on charts, nearing a breakout from a medium-term downward sloping trendline on the weekly chart.
Stock Picks
Buy Ujjivan SFB (53) | Target ₹59 | Stop-loss ₹50
Ujjivan SFB has broken out from downward sloping trend line on the monthly chart. Price breakout is accompanied by jump in volumes. Small Banks and NBFC sector have been outperforming and same is expected to continue. Indicators and oscillators have been showing strength in the current trend.
Buy Zensar Tech (807) | Target ₹860 | Stop-loss ₹770
On the week ended 17 th Oct 2025, Zensar Tech formed bullish hammer candlestick pattern on the weekly chart. Stock found support on its 200 DEMA and reversed the trend on the upside. Stock is placed above all key moving averages, indicating bullish trend on all time frames.
Buy Bluestar Ltd (2015) | Target ₹2,200 | Stop-loss ₹2,110
Bluestar has broken out from the consolidation which was held for previous 8 weeks. Stock is placed above all key moving averages, indicating bullish trend on all time frames. Indicators and oscillators have been showing strength in the current trend.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
