Market wrap up(DWM,T,N,E):The Nifty 50 saw follow-up buying interest on October 3, rising 0.2 percent with above-average volumes and sustaining above the 100-day EMA, while forming a green candle on the daily charts. Sentiment improved; however, momentum indicators still need to show bullish crossovers, and the index must surpass and sustain above the midline of the Bollinger Bands to continue its upward journey. The 25,000 level is expected to be a crucial hurdle for any further uptrend toward 25,100–25,250. Until then, consolidation and rangebound trading may persist, with support at 24,600, experts said. The Nifty 50 formed a bullish candle on the daily charts with a higher high–higher low structure for another session, although the broader pattern of lower high–lower low remains intact. The index sustained above the 100-day EMA but needs to reclaim and sustain above the 20-day and 50-day EMAs, as well as the midline of the Bollinger Bands, to confirm a further uptrend. The RSI showed a further uptick but still maintained a negative crossover. The MACD continued to show a bearish crossover, though histogram weakness faded, it remained below the zero line. All these indicators suggest caution, with confirmation of an uptrend still pending. The Bank Nifty continued to outperform the benchmark Nifty 50, rising 0.44 percent, trading above all key moving averages, and moving closer to the downward-sloping resistance trendline, accompanied by above-average volumes. The RSI sustained a bullish crossover, while the MACD also maintained a positive crossover, with the histogram strengthening further. All these indicators suggest continued strength and potential for further gains.
