NIFTY 50 Analysis: 22,500 Support vs 22,900 Resistance | 28 Oct Market Update

Teji Mandi • 3 days ago

Original source

What This Video Is About

This video provides a technical update on the Nifty for October 28, 2026, by Jatin Gary from the TJ Mandi research team. The update discusses the current consolidation of the Nifty and potential future movements.

Major Ideas Discussed

  • The Nifty is consolidating in a volatile manner between 22,500 and 22,800.
  • The index witnessed buying interest from the 22,500 support level and rallied more than 200 points intraday in the previous trading session.
  • The immediate hurdle is at 22,870, which is the 61.8% retracement level of the entire decline.
  • An expected up move is towards 22,870-22,900, with a potential extension towards 23,100 on the upside.
  • A breach below 22,500 could lead to a decline towards 22,200 on the downside, which is the previous swing low.
  • The hourly momentum indicator has triggered a positive crossover, supporting the expectation of an up move in the Nifty.

What to Watch Next

Investors should monitor the Nifty's movement in relation to the key levels of 22,500, 22,870, and 23,100, as well as the overall market sentiment and volatility.