Nifty Index Technical Outlook for 02nd November 2026

As analysed in the previous research report, Nifty Index witnessed a strong bullish breakout above its crucial pivot level of 22,700, triggering fresh buying momentum, with bulls decisively outnumbering bears. The index has sustained its upward momentum, indicating a significant improvement in market sentiment. Going into today's trading session, the bullish trend is expected to continue, with any temporary dips towards the 22,700 pivot zone likely to offer fresh buying opportunities. If the index sustains above this crucial level, it could gradually move towards testing its immediate resistance at 23,200 and may even attempt a decisive breakout above it. However, some profit booking by smart bulls at higher levels cannot be ruled out following the recent sharp recovery. Nevertheless, the overall technical structure remains firmly bullish, with buyers maintaining a strong edge over sellers. Traders should continue to adopt a buy-on-dips strategy as long as Nifty sustains above the 22,700 pivot level.