Nifty Index Technical Outlook for 28th October 2026

Nifty 50 closed near the crucial pivot level of 22,700, keeping the index at a decisive technical juncture. The near-term outlook remains sideways, with price action around this pivotal zone likely to determine the next directional move. Bulls must sustain the index above 22,700 to regain control and strengthen buying momentum. A decisive move above the pivot could force bears to cover their short positions, potentially triggering a short-covering rally towards immediate resistance at 22,800–23,000. Sustained bullish momentum could subsequently push the index towards the major resistance at 23,200, where fresh selling pressure may emerge. Traders should look for sustained trading above 22,700 and follow-through buying to confirm bullish strength. Conversely, failure to sustain above 22,700 could provide bears with an opportunity to regain control through fresh selling pressure. A breakdown below the pivot may drag Nifty towards the psychological support at 22,500. However, the broader sideways structure could remain intact as long as the index sustains above this crucial support. A decisive breakdown below 22,500 would weaken the technical outlook further and potentially accelerate downside momentum. Key Levels: Resistance – 23,200 | Pivot – 22,700 | Support – 22,500 Technical Strategy: The outlook remains sideways around the 22,700 pivot. Sustained trading above this level could favour bulls and trigger short covering, while a breakdown may invite selling towards 22,500. Traders should await price-action confirmation before taking directional positions.