Nifty Outlook for 03-Nov-2026 looks Bullish

The Nifty 50 closed on Monday, November 2, 2026, with a strong surge of 1.68% at 23,440.80, hitting its intraday high of the session. The index cleared its 20-day and 50-day moving averages, fueled by heavyweights like Reliance Industries, Tata Steel, and broad-based sectoral participation. The Daily MACD Histogram is above zero and the Hourly MACD Histogram is also above zero indicating a bullish trend. The Daily RSI 14 at 61.03 above the midline 50 levels indicate a bullish trend and the Hourly RSI 14 is at the overbought territory above the 70 levels at 74.33 also indicate a bullish trend. But we may see a consolidation or a correction. Thus, the overall trend of Nifty looks bullish, and the buyers are in control over the markets. Buy on dips would be the best strategy to deploy for today’s market considering the overall trend of Nifty. We may expect a change in trend only if the price sustains below the support level. Can Initiate selling only if prices continue to sustain below the support level. I have provided Nifty Spot resistance and support levels which would help you learn in taking informed trading decisions using these levels and understand how support and resistance levels work in financial markets. Nifty Spot Resistance 1 - 23505 Resistance 2 - 23525 Support 1 - 23245 Support 2 - 23185 Happy Learning, Happy Trading and have a wonderful day Top Gainers : RELIANCE, JSWSTEEL, TATASTEEL. Top Losers : INFY, ICICIBANK, DRREDDY.