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NIFTY WRAP UP & FORECASTING

October 5, 2021

The BSE sensex closed the shop at 59,745 UP by 455 points and the Nifty close the day at 17,828, by adding 137 points.

On the Upside: ONGC, Indusindbank, Coal India, IOC
On the downside- Cipla, Hindalco, Shreecem, Sunpharma

Tech View:- Nifty had manage cross first hurdle 17760 and keep same momentum continue. Nifty close the counter at 17828 by adding 137 points, nearly a 0.77% gain and formed a Bullish candle on daily chart which indicate this momentum may continue, upcoming hurdle will be placed at 17830-17900 ,Support zone shifted upward at 17600-17700 zone we may expect to see 18000 mark in upcoming few session after crossing given hurdle.

European & USA markets: @ IST 4:30 European markets were trading at Positive note. Where the Germany’s DAX trading UPby 0.27 %, Other hand France’s CAC40 indexrunningPositive by 0.79% where, England’s FTSE100 indexPositiveby 0.62%.
Where; wall street @ IST 4:30 The DOW future contract tradingPositive115 points, S&P 500 Future [email protected] 15 points, Where Nasdaq100 futurePositive56 points.

Global News Analysis:

China – China risks slower growth if it does not do enough to spur market competition by allowing the private sector to play a bigger role in the economy and greater two-way flow in cross-border investments, a report showed on Tuesday.
LONDON – Britain’s economic bounce-back after coronavirus lockdowns is being hampered by problems in supply chains, a jump in inflation and the risk of a rise in unemployment, complicating the task for policymakers of steering the recovery