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NIFTY WRAP UP & FORECASTING

October 7, 2021

The BSE sensex closed the shop at 59,677UP by 488 points and the Nifty close the day at 17,796, by adding 150 points.

On the Upside: Tatamotor, Titan, M&m, Maruti
On the downside-Ongc, Dr Reddy , Coalindia, Divislab

Tech View:- We have witnessed strong Gap up opening but due to selling pressure it went to range bound session and managed to close 17796 that is adding 150 point nearly 0.85% gain . Nifty have formed Doji pattern candle on daily chart Going forwards immediate & strong hurdle is coming near 17850-17930, supports for nifty is coming near 17730-17650 zone.

European & USA markets: @ IST 4:15 European markets were trading atPositivenote. Where the Germany’s DAX trading UPby 1.14 %, Other hand France’s CAC40 indexrunningPositiveby 1.34% where, England’s FTSE100 indexPositiveby 1.02%.
Where; wall street @ IST 4:20 The DOW future contract tradingPositive193points, S&P 500 Future [email protected] 29 points, Where Nasdaq100 futurePositive 126 points.

Global News Analysis:

Russia- Russia is ready to supply moreNatural Gas to head off a growing energy crisis, President Vladimir Putin said Wednesday, on a day when U.K. and continental spot prices again hit all-time highs.
LONDON – World stock markets got their foot back on the gas on Thursday as hopes grew that Washington could resolve its debt-ceiling squabbles and a global drop in energy prices tempered deepening fears of “stagflation”.
USA:-U.S. private payrolls increased more than expected in September as COVID-19 infections started subsiding, boosting hiring at restaurants and other high-contact businesses..