Nifty Reclaims 200-Week SMA and 23,000 Mark

Nifty ended the week at 23,053.10, up 453.10 points (+2.00%), reclaiming both the 200-week SMA near 22,698 and the 23,000 mark. The weekly low of 22,387.35 held above the 22,200 support zone, which keeps the idea of a higher low in the broader structure worth watching. RSI improved to about 43 from 37, moving back towards the midline without yet reaching clearly bullish territory. Immediate resistance is 23,200, with the 50-week SMA near 24,290 as the more distant hurdle. Sensibull data as of 30 Oct shows Put OI at 35.76 crore against Call OI at 25.11 crore. PCR is 1.62, and Max Pain for the 3 Nov weekly expiry is 23,000, which points to put-heavy positioning. For the week ahead, 22,698 is the level to watch on the downside. A close back below it would call this week’s reclaim into question. Brent crude remains an external factor to track. Index heavyweights such as

, HDFC Bank, ICICI Bank, TCS and Infosys will largely steer the index. A reclaimed moving average is a first sign of strength; follow-through and a higher low are needed before judging whether a bottom is forming. Disclaimer: This is for educational purposes only and is not investment advice. Please consult your financial advisor before making any investment decisions. SEBI Registered Research Analyst — INH000025212.