Today’s Market News :
The GIFT Nifty is indicating a muted start for the day.
Indian benchmark indices Sensex and Nifty 50 are likely to see a muted opening on October 1, tracking cues from GIFT Nifty trading around 26,002, a short while ago this
Indian market news for October 1, 2024, indicates a flat to positive start for the benchmark indices, Sensex and Nifty50, with the GIFT Nifty futures trading approximately 8 points higher at 25,998 against Nifty futures close ¹.
Market Trends:
On September 30, 2024, the BSE Sensex and NSE Nifty 50 experienced declines of over 1%, primarily due to significant profit booking. The Sensex fell by 1,272.07 points (1.49%) to close at 84,299.78, hitting an intra-day low of 84,257.14. Similarly, the Nifty 50 decreased by 368.10 points (1.41%) to finish at 25,810.85 ¹.
Global Cues:
Asian markets showed mixed results on Tuesday, reacting to Federal Reserve Chair Jerome Powell’s remarks. Japan’s Nikkei 225 rebounded 1.07% after a sharp 4.8% drop on Monday, while the Topix rose 0.88%. Conversely, Australia’s S&P/ASX 200 fell by 0.47%, pulling back from an all-time high.
Key Levels of nifty 50
Resistance based on pivot points: 26,043, 26,124, and 26,254
Support based on pivot points: 25,783, 25,703, and 25,573
Key Levels For The Bank Nifty
Resistance based on pivot points: 53,516, 53,705, and 54,010
Support based on pivot points: 52,905, 52,716, and 52,411
Resistance based on Fibonacci retracement: 53,358, 54,365
Support based on Fibonacci retracement: 52,629, 52,057
