Nifty Trade Setup for October 26: Nifty Closes Below 22,600 as Bearish Pressure Persists

The Nifty 50 closed at 22,600.00 on Friday, declining 87.65 points or 0.39%. The index opened at 22,742.20, touched a high of 22,787.25 and fell to an intraday low of 22,372.00 before recovering part of its losses. Despite the recovery from the day's low, the index remained below key daily moving averages, keeping the broader technical structure weak. Traders will watch whether Nifty can sustain above 22,600 or face renewed selling pressure.

માર્કેટની પહોળાઈ: વિક્રેતાઓ ઉપર હાથ જાળવી રાખે છે

Market breadth remained negative, with 14 stocks advancing and 36 declining among the Nifty 50 constituents. Nifty Metal, Nifty Consumer Durables and Nifty India Defence were among the weaker sectoral indices. The broader participation data indicates that selling pressure remained widespread, although the intraday recovery suggests some buying interest emerged at lower levels.

Nifty Technical Setup: 22,840 Is the First Major Hurdle

Nifty continues to trade below its key daily EMAs, with the 22,744–22,840 zone acting as the immediate resistance area. The index recovered from its intraday low, but the rebound has not yet changed the broader bearish structure. On the downside, 22,372 is the immediate support to monitor, followed by the major horizontal support at 22,221.85. A sustained move above 22,840 would improve the short-term setup, while a break below 22,372 could invite further selling.

આરએસઆઇ અને મોમેન્ટમ ઇન્ડિકેટર્સ: મોમેન્ટમ નબળું રહે છે

The daily RSI stands at 42.38, reflecting continued weakness in the broader trend. The hourly RSI is at 46.03, remaining below the neutral 50 mark, while the 15-minute RSI has recovered to 56.65, indicating improving short-term momentum. This divergence suggests that intraday buying has emerged, but stronger confirmation is needed before considering a sustained recovery.

ઑક્ટોબર 26 ના રોજ નિફ્ટી માટે ટ્રૅક કરવા માટેના મુખ્ય લેવલ

Nifty's near-term outlook remains cautious as the index trades below its key daily moving averages and market breadth continues to favour declines. A sustained move above 22,840 could open the way towards 23,076.90, while failure to hold 22,372 may expose the index to a retest of 22,221.85. Traders should watch price action around these levels for confirmation before taking directional positions.