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NIFTY WRAP UP & FORECASTING

October 6, 2021

The BSE sensex closed the shop at 59,189 Down by 555 points and the Nifty close the day at 17,629, by adding 193 points.

On the Upside: Tataconsumer, Ongc, Upl, Britania.
On the downside- SBI Life, Hindalco, Indusindbank, Tatasteel.

Tech View:- We have seen Nifty have reacted on support and resistance level as mentioned in previous report and managed to close the counter at 17629 by loosing 193 points and formed a Bearish candle on daily chart, New resistance will be 17700-17830, Support zone shifted at 17530-17450 zone we may see range bound session between 17530-17700.

European & USA markets: @ IST 4:15 European markets were trading atNegativenote. Where the Germany’s DAX trading Down by 2.25 %, Other hand France’s CAC40 indexrunning Negativeby 2.12% where, England’s FTSE100 index Negative by 1.75%.
Where; wall street @ IST 4:20 The DOW future contract tradingNegative 362 points, S&P 500 Future [email protected] 53 points, Where Nasdaq100 futureNegative 207 points.

Global News Analysis:

Asia- Asian equities have seen heavy foreign outflows since the start of this month on concerns about China’s property sector and on expectations that major central banks would raise interest rates soon amid concerns about rising inflationary pressures.
BOSTON-Global airlines on Monday projected a sharp reduction in industry losses next year as a multi-speed recovery from the coronavirus crisis gets under way, but revised up the financial toll inflicted by the pandemic in 2020 and 2021.
USA:-The yield on the 10-year U.S. Treasury note USA Yield rose 2 basis points Wednesday to trade above 1.55% ahead of employment numbers for September, amid rising concerns over energy prices, inflation and U.S. fiscal brinkmanship.