Indian Market Outlook: October 23, 2026

NIFTY is likely to open positive.

NIFTY short-term support is between 22550-22600 and resistance is between 22900-22950.

BANKNIFTY short-term support is between 54400-54500 and resistance is between 55400-55500.

Max pain for NIFTY has decreased to 22850.

Max pain for BANKNIFTY is same at the 55500.

You may look for a Long CALL/Short PUT on the drop.

At our short-term levels, directional trades may be tried.

Please note that this is not a recommendation. Please consult your financial advisor.

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Disclosure:

Portfolio: ALPHA, ASTRAL, ATUL, BANKBEES, CERA, CHOLAFIN, CONCOR, DMART, GOLDBEES, FINEORG, FINPIPE, HCLTECH,  HDFCBANK, ICICIBANK, JUNIORBEES, KPITTECH, LIQUIDBEES, MOM30IETF, NIFTYBEES, POLYMED, REDTAPE, RHIM, SBIN, SILVERBEES, TIMKEN, etc.

We regularly trade weekly options.