India’s Nifty 50 rose 2% in the week ended Oct. 30, recovering above its long-term average as The Economic Times’ technical analysis identified a resistance test near 23,300.
National Stock Exchange of India (NSE) data put the index’s Oct. 30 close at 23,053.10, up 116.35 points, or 0.51%, that day. Historical prices published by the Financial Times put its Oct. 23 close at 22,600. The five-session advance was 453.10 points, or about 2%. NSE Indices says the Nifty 50 comprises 50 stocks and represented about 49% of the free-float market capitalization of NSE-listed companies as of Sept. 30, 2026.
The Economic Times contributor Milan Vaishnav puts the 200-week moving average at 22,700.18. His analysis says the index had fallen below that level before moving back above it. For the coming week, he identifies resistance at 23,300 and 23,450, with support at 22,750 and 22,525. He also cites 23,696.04, the midpoint of the 20-week Bollinger Band, as another resistance area.
Vaishnav gives the weekly relative strength index (RSI) as 43.29 and characterizes it as neutral. The weekly moving average convergence divergence (MACD) remains below its signal line, a reading that, in his analysis, leaves the rebound without confirmation from weekly momentum.
Anand Rathi data put India VIX at 15.30 at the Oct. 30 close, down 9.25% over the Oct. 26-30 week. NSE defines India VIX as an options-based measure of expected Nifty volatility over the next 30 calendar days. Vaishnav attributed support for the rebound to easing volatility and buying at lower levels, without identifying a specific economic event as its cause.
Vaishnav’s next technical focus is whether the Nifty can stay above its 200-week average as it approaches the 23,300-23,450 resistance area.
