NiftyFuture last close: 17706.25 (+1%)
The Indian equity market snapped its four-day losing streak on Oct 4
NiftyFuture was opened at 17570 and went to 17745 then ended at 17710
The Sensex was up 534 points while Nifty 50 gained 159 points
Pharma, Metal, and Banking stocks shining
Midcap index gained 1.5% and Smallcap index was up 1.3% on 04th Oct
PSU Banks did very well & SBIN gained 2%
Midcap stocks SRF, DeepakNtr, Dixon and Astral gained 7% to 10%
RBI Grants license to NARC (National Asset Reconstruction Company)
FIIs net bought 860 crore while DIIs net bought 228 crore in cash segment
US dollar drifted below a one year high
US markets fell on Monday & Worried about US-China trade tensions
Dow fell 0.95%, S&P500 fell 1.3% and Nasdaq dropped 2.15%
SGXNifty indicates a gap down opening for the lndex likes 75-100 points
Likley to witness volatile with range will be expected during the day
NiftyFuture formed a bullish candle on daily scale after 4 days lossing
However, NiftyFuture is facing a intraday resistance 17720 and 17750
If sustains above 17750, will try to check next crucial resistance around 17800
NF can be considered as supports as 17680, 17650 and 17610
Below 17610, finding a next support 17560 which was yesterday’s low
Thereafter expecting more pain
Note: Better to wait first 30 minutes. If breaks first 30 minutes low or high will see further move
Updated: 08.32 am / 05th Oct 2021
