Daily Market Quote: 29 October 2026

Authored By Prime Research | Published at: Oct 29, 2026 04:47 PM IST

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After showing consolidation movement with high volatility in the last couple of sessions, Nifty witnessed an excellent breakout of 22800 levels on Thursday and closed the day with hefty gains.

A long bull candle was formed on the daily chart which indicates an emergence of sharp buying that surpassed the crucial hurdle around 22800 levels. This is positive indication.

After a series of bearish pattern like lower tops and bottoms, the recent market action signals a confirmation of new higher bottom around 22400 levels. This could possibly open bullish chart formations like higher highs and lows ahead.

The short-term trend of Nifty continues to be positive. One may expect Nifty to advance towards the next resistance of 23200 in the short term. Any dips could be bought at the immediate support of 22800-22750 as per the concept of change in polarity.

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