The Market Commentary for September 29, 2023, and the projected NIFTY levels for October 3, 2023. Here's a breakdown of the information:
September 29, 2023:
NIFTY closed at 19638.3.
NIFTY's highest point during the day was 19726.
NIFTY's lowest point during the day was 19551.
The commentary notes that NIFTY bounced back from its support level of 19520 but was unable to cross and close above its first resistance of 19723. It was also mentioned that it was the first day of October expiry.
Major gainer sectors on this day included the pharma sector, up 2.66%, the metal sector, up 1.90%, PSU banks, up 1.63%, and the commodity sector, up 1.55%.
Projected NIFTY Levels for October 3, 2023:
Support levels: 19723 and 19508.
Resistance levels: 19772 and 19856.
The commentary provides potential support and resistance levels for October 3, 2023. It suggests that the first support level is at 19723, with the next support level at 19508. Resistance levels are at 19772 and 19856.
Expiry days can introduce volatility into the market, and traders should be prepared for price swings. Support and resistance levels can be helpful in guiding trading decisions, but it's important to consider risk management strategies and stay informed about market developments.
September 29, 2023:
NIFTY closed at 19638.3.
NIFTY's highest point during the day was 19726.
NIFTY's lowest point during the day was 19551.
The commentary notes that NIFTY bounced back from its support level of 19520 but was unable to cross and close above its first resistance of 19723. It was also mentioned that it was the first day of October expiry.
Major gainer sectors on this day included the pharma sector, up 2.66%, the metal sector, up 1.90%, PSU banks, up 1.63%, and the commodity sector, up 1.55%.
Projected NIFTY Levels for October 3, 2023:
Support levels: 19723 and 19508.
Resistance levels: 19772 and 19856.
The commentary provides potential support and resistance levels for October 3, 2023. It suggests that the first support level is at 19723, with the next support level at 19508. Resistance levels are at 19772 and 19856.
Expiry days can introduce volatility into the market, and traders should be prepared for price swings. Support and resistance levels can be helpful in guiding trading decisions, but it's important to consider risk management strategies and stay informed about market developments.