Indian stock markets are expected to trade range-bound yet with a positive bias on Wednesday, October 29, 2025, as investors digest mixed global signals and await fresh domestic triggers.
Following a volatile session on Tuesday, the Sensex slipped 150.68 points (0.18%) to 84,628.16, while the Nifty 50 edged down 29.85 points (0.11%) to 25,936.20.
Stock Market Outlook Today For 29 October 2025
Broader markets remained steady, with the Midcap and Smallcap indices ending flat. Sectorally, Metal and PSU Bank indices gained around 1.2%, while IT, Pharma, FMCG and Realty sectors witnessed mild profit booking, falling between 0.5% and 1%.
Nifty Likely to Consolidate; Momentum Intact Above Key Levels
According to Bajaj Broking Research, the Nifty continues to show signs of consolidation within a broad range, suggesting the market may trade sideways with selective stock action.
“The index formed a Doji candlestick pattern on the monthly F&O expiry day, characterized by a higher high and a lower low, underscoring heightened intraday volatility,” the report noted.
Bajaj Broking added, “Over the past four sessions, the index has been consolidating within a broad range of 26,100-25,600, thereby digesting the overbought conditions that emerged on the daily chart following a sharp 1,500-point rally over the previous four weeks.”
Analysts believe that a decisive breakout above 26,100 could extend the rally towards 26,300-26,500 in the near term. On the other hand, immediate support is seen in the 25,500-25,700 zone – an area aligning with the 38.2% Fibonacci retracement of the recent rally (24,587-25,782).
Bajaj Broking maintained a bullish undertone, stating, “We maintain a constructive view on the index and expect pullbacks to be absorbed as buying opportunities within this support area.”
Bank Nifty Expected to Show Strength; Dips May Offer Buying Opportunities
The Bank Nifty index, which has been showing resilience, is expected to continue trading firm amid renewed buying interest in banking and financial stocks.
“The index formed a bullish candlestick with a higher high and higher low, indicating a continuation of the pullback for the second consecutive session,” said Bajaj Broking. “Going forward, a sustained move above last week’s high of 58,577 would confirm a breakout continuation, opening the door for an extension of the recent rally towards 59,000 and 59,300 levels.”
However, if the index fails to cross 58,577, analysts expect range-bound consolidation between 58,600-57,300 in the near term. On the downside, immediate support lies at 57,300-57,500, while a stronger demand zone is positioned near 56,800-56,500.
“We maintain a positive bias and believe that intermittent dips should be utilized as buying opportunities within the established support zones,” Bajaj Broking added.
Analysts expect Wednesday’s trade to be characterized by volatility and sector rotation, with metals, PSU banks, and energy stocks likely to outperform. Meanwhile, defensive sectors such as IT, FMCG, and pharma may remain under pressure amid global uncertainty.
Investors are likely to track updates from major global central banks, especially the U.S. Federal Reserve’s upcoming rate decision, which could set the tone for near-term market direction. Domestically, movement in FII flows, Q2 earnings announcements, and macro data such as industrial output and consumer confidence are expected to guide trading sentiment.
Overall, experts suggest a cautious yet optimistic approach, with the market expected to witness sideways consolidation before the next leg of uptrend if key support levels hold firm.