Bank Nifty Intraday Trade Setup for October 29, 2025 (9:15 AM - 11:55 AM IST)

Bank Nifty is opening with a positive bias today, supported by global cues (US indices at records, Nikkei highs) and GIFT Nifty signaling a flat-to-positive start around 58,000-58,500 levels. The index is near recent highs (~58,000-58,500 range), with mild bullish momentum (RSI ~60). However, it's in a consolidation phase post-Muhurat trading volatility, so expect range-bound action in the morning session. Key drivers: Banking sector Q2 previews, FII inflows, and Fed rate decision later today. Trade only on breakouts with tight risk management—volatility could spike around 10:30-11:00 AM.

Current Levels (as of ~9:15 AM opening estimate):

• Spot: ~58,007 (up ~0.5-0.8% from yesterday's close of 57,699).
• Futures: ~58,080-58,100.
• VWAP (early session): ~58,000.

Level TypePrice RangeSignificanceStrong Resistance58,313 - 58,577Break above 58,313 could trigger upside momentum; failure here may lead to pullback.Pivot/Opening Resistance58,200 - 58,260Intraday hurdle; watch for rejection or breakout around 10:00-10:30 AM.Neutral Zone (No Trade)57,900 - 58,100Consolidation band—avoid entries here; wait for directional move.Strong Support57,700 - 57,880Key buyer zone; hold above this keeps bias positive. Deeper support at 57,482 (yesterday's low).

Trend Outlook: Bullish above 58,000 (target higher highs); bearish below 57,700 (risk of dip to 57,000). Morning session likely sideways with upside bias if it sustains above 58,000.

Recommnded Trade Strategies (9:15-11:55 AM)

Focus on momentum trades only—use 5-min charts for entries, 15-min for confirmation. Risk 0.5-1% per trade; position size small (e.g., 1-2 lots for retail). Expiry volatility from yesterday may linger, so trail stops aggressively.

Bullish Setup (Long Bias - Preferred for Morning):

• Entry: On breakout above 58,200 (e.g., 5-min candle close + volume spike).
• Target: 58,500 (first, ~300 pts) → 58,700 (extended, ~600 pts). Partial profit at 58,313.
• Stop Loss: 57,900 (tight) or 57,800 (wider for swings). Risk-reward: 1:2.
• Rationale: Positive global cues and hold above 58,000 support; advances/declines ratio improving (11:1 recently). Ideal entry post-9:30 AM open if gap-up fills.

Bearish Setup (Short if Rejection):

• Entry: On breakdown below 57,900 (e.g., rejection at 58,200 + bearish candle).
• Target: 57,700 (first, ~200 pts) → 57,482 (extended, ~500 pts).
• Stop Loss: 58,150 (above pivot). Risk-reward: 1:1.5.
• Rationale: Profit-booking risk post-rally; if it slips below 57,800, momentum could accelerate downside.
• Use ITM options (CE/PE) for limited time decay in morning.
• Avoid trading 9:15-9:30 AM (opening volatility). Exit all by 11:45 AM to avoid lunch-hour chop.
• Monitor: ICICI Bank/Axis Bank (top weights) for sector cues; FII data post-session.

Disclaimer: This is for educational purposes only, based on technical analysis. Markets are volatile—trade at your own risk, not financial advice. Consult a SEBI-registered advisor. Happy trading!