Nifty PCR Ratio Reveals Gaps on Chart as Index Aims ATH

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After a strong gap-up opening above 26,000, Nifty 50 struggled to sustain gains amid profit booking, while IT stocks led sectoral gains and Bank Nifty touched new lifetime highs before retreating to the 58,000 mark.

By S JHA

Mumbai, October 24, 2025 — India’s benchmark indices saw a volatile trading session on Thursday. According to StockEdge, the Nifty 50 made a strong gap-up opening, crossing the 26,000 mark, but failed to hold above it as the rally cooled off. The index now faces immediate resistance at its all-time high (ATH) of 26,277, while 25,700 serves as the near-term support.

The Bank Nifty touched fresh lifetime highs of 58,577, but profit booking at higher levels pushed it back towards the psychological support level of 58,000.

Sectorally, Nifty IT emerged as the top gainer, closing up 2.2%, with Infosys Ltd. surging 3.6% to lead the Nifty 50 gainers. Meanwhile, Eternal Ltd. was the top loser, falling nearly 3% in the session.

As per a technical note from Angel One, Nifty’s midday reversal from 26,104 to a close at 25,891 formed a bearish candle pattern. Despite this, the RSI above 72 reflects sustained strength, albeit with mild overbought signals. Options data indicated a Put-Call Ratio (PCR) of 0.87, suggesting cautious sentiment among traders, while the Max Pain point at 25,900 aligned with the closing levels.

Angel One further noted that the runaway gap between 25,800–25,750 could act as immediate support, with 25,600–25,500 as the next cushion. On the upside, 26,100–26,150 remains a key hurdle, followed by resistance at the lifetime high of 26,277.

(This article makes no recommendation for any kind of trades in the stock market)