Nifty Outlook for 04-Nov-2026 looks Bullish

Nifty 50 closed strongly on Tuesday, November 3, 2026, surging 370.05 points (1.58%) to settle at 23,810.85, marking its fourth consecutive session of gains. 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 66.59 above the midline 50 levels indicate a bullish trend and the Hourly RSI 14 is at the overbought territory above the 70 levels at 80.04 also indicates 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 - 23880 Resistance 2 - 23920 Support 1 - 23695 Support 2 - 23625 Happy Learning, Happy Trading and have a wonderful day Top Gainers : BSE, NESTLEIND, TATACONS Top Losers : POWERGRID, SBIN, ONGC.