In Stock markets today Nifty slipping below 19,550 and Sensex declining by 316 points, while capital goods and PSU banks outperform, highlighting a mixed day for the Indian stock market.

Stock Market Nifty Chart Prediction.

On October 3, 2023, the Indian equity market experienced a decline following weak global cues and a broad-based selling trend. Here’s a summary of the market performance for that day:

• The Sensex, which is the benchmark index for the Bombay Stock Exchange (BSE), fell by 316.31 points or 0.48 percent, closing at 65,512.10.
• The Nifty, the key index for the National Stock Exchange (NSE), dropped by 109.50 points or 0.56 percent, ending the day at 19,528.80.

The market opened with a gap-down, indicating a lower opening compared to the previous trading session. As the day progressed, the selling pressure continued, pushing the Nifty index below the 19,500 level.

However, during the second half of the trading session, there was some buying activity observed in capital goods and PSU (Public Sector Undertaking) banking stocks. This buying interest helped narrow down the losses in the broader market.

Prediction For Wednesday NIFTY can go up if it goes above 19600 or go down after the level of 19500 but all depend upon the Global cues.

There are good chances of market going in downward direction as today market opened gapdown and then traded in range through out the day. Takes support near 19500 and closed near the level of 19525. If it goes beyond any level given above it will give a one side move on any side up or down. Nifty gives flat opening, it may move to the level of 19600 or 19500 But all these aspects depend upon the Global cues.

Nifty Support and Resistance

Bank Nifty Daily Chart Prediction

Prediction For Wednesday Bank NIFTY can go up if it goes above 44500 or go down after the level of 44250 but all depend upon the Global cues.

Today, BANK NIFTY opened gap down in morning but after that there was more in range. Bank nifty tock support near level of 44250 and bounced back to again. Today bank nifty has closed red and closed near its critical level of 44250 which has made bank nifty weak again For Wednesday you can go with the strategy of sell on rise.

Bank Nifty Support and Resistance

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