Nifty 50, Sensex Today: What to expect from the Indian stock market in trading on October 3

The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open on a clumsy note amid mixed clues from world markets. The tendencies on gift Nifty also indicate a clumsy start to the Indian measure index. The Gift Nifty traded about 24,948 level, a discount of almost 19 points from the Nifty Futures’ previous closure. Indian financial markets were closed on Thursday, October 2, based on Dussehra and Mahatma Gandhi Jayanti. The stock market ended sharply higher on Wednesday and hampered its eight -day loss line, following the announcement of the Reserve Bank of India (RBI). The Sensex acted 715.69 points, or 0.89%, to close at 80,983,31, while the Nifty closed 50 225.20 points, or 0.92%, at 24,836,30. Here’s what you can expect from Sensex, Nifty 50 and Bank Nifty today: Sensex forecast Immediate resistance to Sensex is 82,000 – 82.200. A convincing move above this zone can drive the index higher. To the disadvantage lies the support of 80,000 – 79.800. A break below this area can test the next support level at 79,500, says to Ghawalkar, market analyst, share.Market (Phonepe Wealth). Nifty 50 Prediction Nifty 50 forms a large bullish candle on the daily map near the Trend Line Support, indicating a short-term reversal. “A long bulls formed on the daily map after the series bound action with a poor prejudice of single sessions. This indicates the formation of a short -term reextructure pattern in the market. Nifty 50 jumped sharply from the close the decisive support of approximately 24,500 – 24,400 levels (rising trend and 200 day EMA). This is a positive indication, “says Nagaj Shetti, senior technical research. HDFC Securities. According to him, the larger grade is higher tops and bottom in the store as per daily and weekly time frame map, and the recent layer of 24,587 can now be considered a new higher bottom of the order. “The short -term trend of Nifty 50 has firmly reversed with the formation of a short -term reversal pattern. The next upside down hurdles to be watched are about 25,000 and next 25,200 in the next week. Immediate support is placed at 24,600 levels,” Shetti said. A convincing move above this level can float the index to 25,500. A break under this zone can test the next support level at 24,000, ‘says Ghawalkar. Bank Nifty Prediction Bank Nifty Index rose 712.10 points, or 1.30%, to close at 55,347,95, with a large bullish candle, reflecting the power. “The Trend Line Resistance for the Bank nifty is placed near 55,700, which will act as the immediate hurdle, followed by 56,000. On the downside, major support is placed near 54,900, where the 100-dema is positioned. Nifty, ”said Hrishikesh Yedve, AVP Technical and Derivative Research, Asit C. Mehta Investment Interrediates Ltd. Bajaj Broking Research has noted that the formation of a bullish marubozu Christmas is a strong and positive start of the month, supported by heavy buying interest in major banks in the private sector. “Bank Nifty index is now trading above its key 21- and 50-day EMAs, currently at 54,940 and 55.120, indicating that the short to medium-term trend still remains bullish. Support levels have also moved higher, now positioned about 54,800 and 55,000, and it has a fixed base for further utilized. Research said. Power is also clear on the hourly map, which strengthens the bullish bias and represents a buy-to-dips strategy. The overall technical setup indicates a favorable scenario for risk companies for traders who want to capitalize on short-term returns, he added. Disclaimer: The views and recommendations above are those of individual analysts or brokerage companies, and not of currency. We advise investors to check with certified experts before making investment decisions.