Nifty Index Technical Outlook 08 October 2026

Nifty Index remains at a crucial technical juncture, with the 22,600 Pivot emerging as the immediate trend-defining level for the session. If the index opens gap-down and starts trading below 22,600, it would signal renewed weakness and could trigger strong selling pressure across the market. Sustained trading below this Pivot would indicate that bulls are losing control and the recent recovery may be losing momentum. The 22,500 psychological level becomes the next critical battleground, and a decisive breakdown below this zone would strengthen the bearish setup. A sustained move below 22,500 could invite bears back in full force, potentially resuming the bearish momentum of the previous decline. The chart structure suggests that failure to defend 22,600 would shift the immediate risk-reward in favour of sellers, with buying support weakening at lower levels. Bulls therefore need to defend the 22,600 Pivot to preserve recovery potential and prevent another wave of aggressive selling. A successful defence of 22,600 followed by a move above recent resistance could provide relief and encourage short covering. However, until the index decisively sustains above key resistance levels, bearish sentiment remains stronger than bullish sentiment in the near term. Overall, traders should carefully monitor 22,600 and 22,500, as a breakdown below these levels could bring bears back in full force and reinforce the sell-on-rise strategy.