Nifty Index Technical Outlook for 15 October 2026

Nifty 50 continues to exhibit a broader bearish trend on the 120-minute chart, with selling pressure persisting below the major resistance at 23,000. The index has repeatedly defended the crucial 22,200 support, indicating buying interest at lower levels and supporting intermittent recovery attempts. The recent rebound towards 22,700–22,750 faced selling pressure, highlighting the presence of overhead resistance. Nifty is now hovering around the 22,600 pivot, which remains decisive for its immediate direction. Sustained trading above 22,600 could attract fresh buying and trigger short covering towards 22,700–22,750. However, failure to hold this pivot may revive selling pressure and expose the index to renewed downside. A decisive breakdown below 22,200 would weaken the recovery structure and increase bearish risks. Meanwhile, 23,000 remains a major resistance for any meaningful trend reversal. Overall, the outlook remains cautiously bearish, favouring a sell-on-rise approach until Nifty sustains above key resistance levels. Traders should closely monitor 22,600 and 22,200 while maintaining disciplined risk management.