India’s benchmark Nifty 50 rebounded 0.68% on October 26, 2026, following a 2.36% decline in the previous week. However, market experts remain cautious about the sustainability of the recovery ahead of the monthly futures and options (F&O) expiry on October 27 and amid crude oil prices trading above $100 per barrel.

The Nifty 50 is expected to trade within the 22,200–23,200 range in the short term until the index breaks decisively above or below this band to establish a clearer market direction.

On the upside, the immediate resistance zone stands at 22,800–22,850. A decisive move above this level could help extend the recent recovery. On the downside, the 22,500–22,400 range is expected to provide immediate support.

The index closed at 22,753 on October 26, placing it close to the immediate resistance zone. Nevertheless, the broader technical structure remains weak following the previous week's correction, making sustained buying momentum an important factor for further gains.

Investors and traders are likely to monitor market volatility, crude oil movements and price action around key technical levels during the expiry session. A sustained breakout beyond the identified trading range could provide a clearer indication of the market's next direction.

Market participants should remain attentive to support and resistance levels as expiry-related activity and external economic factors influence short-term trading sentiment.