🚀 Can 22,500 Hold in Nifty? TVS Motor Profit Jumps 52%, Key Breakouts & Stocks to Watch!

Nifty 22,698.85 ▼ -0.22%
Sensex 73,246.03 ▼ -0.48%
Bank Nifty 54,267.40 ▲ +0.54%

Market Today: IT Stocks Drag Nifty; Broader Markets Outperform

A volatile session with Nifty closing near 22,700, while Broader Markets outperformed. IT stocks remained under pressure around global AI earnings concerns, dragging the Nifty IT index down 1.98%.

Nifty and Sensex continue to face supply pressure near their key resistance levels of 22,815 and 73,550, respectively. Meanwhile, Bank Nifty found support around 53,700, making it a crucial level to hold for near-term stability.

Here are the key levels to watch for October 29, 2026

Sector & Stock Moves: Where the Action Was?

Jio Platforms made its market debut, closing at ₹1,417 against its listing price of ₹1,358. LT gained 3.72% on strong Q2 and order book growth. Pharma stocks outperformed, with Apollo Hospitals rising 4.43% and PPL Pharma surging 17.15% following earnings.

TVS Motor gained 3.74% after its Q2. On the downside, CarTrade Tech witnessed its sharpest intraday decline following weak earnings, while IT stocks remained in red.

NIFTY50: Top Gainers

• APOLLOHOSP ▲ +4.43%
• LT ▲ +3.72%
• TRENT ▲ +3.31%

NIFTY50: Top Losers

• INFY ▼ -3.43%
• RELIANCE ▼ -3.19%
• ONGC ▼ -2.16%

Let’s also look at the Open Interest insights

Strong put writing at 22,500 (57.9L) indicates a key support base, while significant call writing at 22,800 (56.7L) and 23,000 (77.84L) highlights major resistance zones. PCR OI stands at 1.1.

Stocks on the Move

News you can use

• Vedanta: Q2 net profit rose 17% YoY to ₹6,202 crore. Revenue increased 8.9% to ₹26,356 crore.
• Adani Enterprises: Q2 revenue surged 75.1% YoY to ₹37,215 crore. Net profit declined 54.8% to ₹1,492 crore.
• TVS Motor: Q2 net profit jumped 52.3% YoY to ₹1,377 crore. Revenue grew 43.7% to ₹17,103 crore.
• Hyundai Motor: Q2 revenue stood at ₹20,696 crore, while net profit reached ₹1,196 crore.
• PVR INOX: Q2 net profit rose to ₹263 crore from ₹106 crore YoY. Revenue increased 17% to ₹2,105 crore.

Chart of the day: DRREDDY (4-hour TF)

Spotted: Cup & handle

Structure: Price forms a rounded bottom, followed by a brief pullback, creating a cup and handle pattern.

Validation: Decisive BO above the handle resistance, supported by a volume spike.

Trading Insight: Signals potential bullish continuation after a breakout above the cup’s resistance.

That’s a wrap for today’s action-packed session! We’ll be back in your inbox on October 29, 2026, with more sharp insights, fresh trends, and signals from the markets.