Nifty:19436.1/-92.65/-0.47%;Candle:OGD,Doji; Bank Nifty:43964.05/-435/-0.98% Candle:OGD,Short day red ; HB:OGD,Long day red,1529.
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long25%FutCash;-4424;Opt86%
OI data Nifty ( max pain W19450M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
The NSE has added Delta Corp, and Manappuram Finance to its F&O ban list for October 5, while retaining Indiabulls Housing Finance to the said list.
Market wrap up(DWM,T,N,E):The market extended losses for the second consecutive session with the Nifty50 breaking the upward-sloping support trendline and remaining below the 50-day and 20-day EMA (exponential moving average) on October 4. This indicates the possible continuity in short-term weakness, and if the index stays below 19,500, then the fall may reach 19,200, the low of August, while the formation of a Doji-kind of candlestick pattern on the daily charts at the downtrend may increase the chances of bounce-back. And getting back above 19,500 can lift the index towards 19,600-19,700 levels in coming sessions, experts said. The BSE Sensex plummeted 286 points to 65,226, while the Nifty50 declined 93 points to 19,436 and formed a small candle on the daily chart with almost identical open and close and with long lower shadow. Technically, this pattern indicates the formation of a Doji or Hammer-type candle pattern. Normally, the formation of such patterns after a reasonable decline or at the key supports signals a comeback of bulls from the lower levels, after the confirmation. Hence, a sustainable close above 19,500 is expected to confirm a short-term upside bounce for the market, Nagaraj Shetti, technical research analyst at HDFC Securities said. He feels that the short-term trend of the Nifty remains negative. “A decisive close above 19,500 levels could possibly open an upside bounce towards 19,650 levels in the near term. But, the inability to sustain the upside bounce or a decline below 19,330 is likely to trigger fresh weakness for the market ahead,” he said. The Nifty Midcap 100 and Smallcap 100 indices have seen more correction than benchmarks, falling 1.4 percent and 1.25 percent respectively on weak breadth.
