Market wrap up(DWM,T,N,E):The market experienced a southward journey for the eighth consecutive session, although the selling pressure has eased in the past two days. On September 30, the monthly F&O expiry day, the Nifty 50 fell by 0.1 percent. Technical and momentum indicators continue to signal a negative trend. If the Nifty 50 breaks 24,500—coinciding with the upward-sloping support trendline—the fall may extend toward the August lows in the 24,400–24,300 zone. However, on the upside, the index may face resistance at the 24,700–24,900 levels, according to experts. The Nifty 50 formed a bearish candle with minor upper and lower shadows on the daily timeframe, indicating choppy trade. The index has continued the lower top-lower bottom structure for the eighth straight day, with short- and medium-term moving averages trending downward. The 10-day EMA has fallen below both the 20- and 50-day EMAs. The RSI dropped to 38.13, while the MACD declined below the zero line with a negative crossover. The histogram showed further weakness, indicating that the trend remains bearish. The Bank Nifty gained strength for the second straight session, rising by 175 points on the monthly F&O expiry day. The index formed a bearish candle with upper and lower shadows, resembling a high-wave-like candlestick pattern on the daily charts. This suggests volatility and indecision between bulls and bears for another session. The index is well below the 20-, 50-, and 100-day EMAs, with the 10-day EMA trading below all three. Additionally, the 20-day EMA is on the verge of falling below the 100-day EMA. The RSI at 45.14 showed an uptick but still maintains a bearish crossover, while the MACD continues its bearish crossover, with further weakness in the histogram.
