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NIFTY WRAP UP & FORECASTING

September 30, 2021

The BSE sensex closed the shop at 59,126 down by 287 points and the Nifty close the day at 17,606, by loosing 105 points.

On the Upside: BajajFinserv, BajajFinance, tatamors, NTPC
On the downside-Powergrid, Asianpaint, Shreecem, Axis bank.

Tech View:-Index closed the day at 17606 with a loss of 105 points and formed a bearish candle on daily chart. Going forwards immediate support is coming near 17540-17440 zone if managed to hold above mentioned supports area one can expect a bounce back and immediate hurdle zone of 17700-17800 , overall structure looks consolidating & we may expect to see index to consolidate in the range of 17400-17900& either side breakout will decide the direction.

European & USA markets: @ IST 5:00 European markets were trading at Positive note. Where the Germany’s DAX trading Downby 0.28 %, Other hand France’s CAC40 indexrunningPositiveby 0.02% where, England’s FTSE100 indexPositive by 0.25%.
Where; wall street @ IST 5:00 The DOW future contract tradingPositive 139 points, S&P 500 Future trading [email protected] 6.83 points, Where Nasdaq100 future Positive 68.25 points.

Global News Analysis:

USA:- U.S. stock index futures rose on Thursday, indicating a slightly positive end to a bruising month for Wall Street, with focus turning toward economic data and government funding negotiations. Jobless claims data, due at 08:30 a.m. ET, is expected to point to a steady recovery in the jobs market, while a separate report from the Commerce Department will likely confirm that economic growth accelerated in the second quarter.
China:- Small firms caught in China’s prolonged energy crunch are turning to diesel generators, or simply shutting shop, as coal industry officials voiced fears about stockpiles ahead of winter and manufacturing shrank in the world’s no. 2 economy.
Europe:-Lingering uncertainty about rising inflation requires close monitoring by the European Central Bank, which sees it as a temporary trend, but it must be prepared to act flexibly, ECB Governing Council member Mario Centeno said on Thursday.