Stock Market Outlook for October 23: Nifty May Consolidate Above 25,800; Sensex and Bank Nifty Likely to Stay Range-Bound

Nifty 50 Holds Above 25,800; Sensex Near 84,400 as Market Eyes Consolidation Ahead of Next Breakout
Stock Market Outlook for October 23_ Nifty May Consolidate Above 25,800; Sensex and Bank Nifty Likely to Stay Range-Bound.jpg
Written By:
Bhavesh Maurya
Reviewed By:
Shovan Roy
Published on

The Indian markets are expecting a stable start on Thursday, October 23, following the Muhurat trading. The one-hour session held on October 21, 2025, recorded Nifty 50 and Sensex closing on a slightly higher note, extending their festive winning streak based on strong optimism from strong Q2 results, liquidity inflows, and a favorable global atmosphere.

Highlights from Muhurat Trading 2025

  • Muhurat trading took place from 1:45 PM to 2:45 PM.

  • Sensex closed 62.97 points (0.07%) higher at 84,426.34, and Nifty 50 gained 25.45 points (0.10%) to end at 25,868.60.

  • Bank Nifty, however, slipped 26 points (0.04%) to close at 58,007.20.

Nifty 50 also recorded its eighth consecutive positive Muhurat session, reflecting investor confidence heading into Samvat 2082.

Nifty 50: Facing Resistance Near 26,000, Support Around 25,700

Nifty 50 index rose 25.45 points or 0.10% to close at 25,870 in the previous session. The index oscillated between 25,788.5 and 25,926.2, closing near the midpoint. The RSI near 70 signals overbought conditions.

Immediate support lies at 25,750, while resistance levels are at 26,000 and 26,100. Analysts expect Nifty to consolidate between 25,700-26,000 before attempting a breakout toward new all-time highs above 26,300.

Bank Nifty Outlook

Bank Nifty gained 26 points or 0.04% to close at 58,007. The index moved between 57,872.85 and 58,261.55 before settling near the midrange.

Technical charts indicate that support is at 57,450 and 56,500, while resistance is at 58,250. A sustained breakout above the resistance could take the index to 58,500. The RSI is hovering around 70, indicating possible near-term consolidation.

Sensex: Holding Firm Above 84,000, Eyes 85,200 Resistance

BSE Sensex ended Muhurat trading session at 84,426.34, an increase of 62.97 points (0.07%), marking a fifth consecutive gain.

The support levels are at 83,950 and 83,600, while resistance is expected to be at 85,000-85,200. If the index holds above 84,000, the bullish bias is likely to remain intact.

Also Read: US Stock Market Today: Dow Jones Jumps 0.7% as Gold Drops Over 5% Amid Strengthening Dollar

Market Outlook: Bullish Structure Intact Amid Mild Consolidation

Ponmudi R, CEO of Enrich Money, stated that the market structure is still positive as long as Nifty 50 stays above 25,800, with the 25,600-25,500 range providing important support. A breakout above the 26,000-26,300 range might take the index to new record highs.

The short-term outlook remains bullish for October 23, with chances of a mild consolidation.

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