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NIFTY WRAP UP & FORECASTING

October 1, 2021

The BSE sensex closed the shop at 58,765 down by 360 points and the Nifty close the day at 17,532, by loosing 90 points.

On the Upside: M&M, Coalindia, IOC, Ultracemco
On the downside-Bajafinserv, Maruti, Asianpaint, Bajajfinance

Tech View:-We have witnessed another negative session after gap down opening market have shown comeback and managed to closed a week at 17532 with a loss of nearly 2% and formed a bearish candle on the weekly chart. on daily chart index formed a Doji candle pattern which indicate indecision in the markets, going forwards index has formed supports near 17450-17400 zone if market managed to sustain on said level we may see some sort of pull back going forward immediate resistance zone will be 17600-17700.

European & USA markets: @ IST 4:00 European markets were trading atNegativenote. Where the Germany’s DAX trading Downby 0.78 %, Other hand France’s CAC40 indexrunningNegativeby 0.69% where, England’s FTSE100 indexNegativeby 1.03%.
Where; wall street @ IST 4:00 The DOW future contract tradingNegative 169 points, S&P 500 Future [email protected] 18.75 points, Where Nasdaq100 futureNegative51.25 points.

Global News Analysis:

UK:- British gasoline stations running dry, surging power costs in the European Union ahead of winter, forced restrictions on energy use in China and rising oil, natural gasand coal prices.
USA:-Merck & Co Inc’s experimental oral drug for COVID-19, molnupiravir, reduced by around 50% the chance of hospitalization or death for patients at risk of severe disease, according to interim clinical trial results announced on Friday.
Europe:-Euro zone inflation hit a 13-year high last month and looks likely to jump higher still, further clouding the European Central Bank’s benign view of the biggest price spike since before the global financial crisis.