The Market Commentary for October 4, 2023, and the projected NIFTY levels for October 5, 2023. Here's a breakdown of the information:
October 4, 2023:
NIFTY closed at 19436.10.
NIFTY's highest point during the day was 19458.
NIFTY's lowest point during the day was 19334.
The commentary notes that NIFTY experienced a bounce back from near its support level of 19319 and formed a bullish hammer pattern.
Projected NIFTY Levels for October 5, 2023:
Support level: 19319.
Resistance levels: 19478, 19567, and 19660.
The commentary provides potential support and resistance levels for October 5, 2023. It suggests that the support level is at 19319, and a day closing below this level could trigger sharp selling.
The formation of a bullish hammer pattern and other data are mentioned as suggesting the possibility of significant short covering tomorrow.
Traders and investors should consider these levels and patterns alongside other technical and fundamental factors when making trading decisions. Market conditions can change rapidly, so risk management remains important.
October 4, 2023:
NIFTY closed at 19436.10.
NIFTY's highest point during the day was 19458.
NIFTY's lowest point during the day was 19334.
The commentary notes that NIFTY experienced a bounce back from near its support level of 19319 and formed a bullish hammer pattern.
Projected NIFTY Levels for October 5, 2023:
Support level: 19319.
Resistance levels: 19478, 19567, and 19660.
The commentary provides potential support and resistance levels for October 5, 2023. It suggests that the support level is at 19319, and a day closing below this level could trigger sharp selling.
The formation of a bullish hammer pattern and other data are mentioned as suggesting the possibility of significant short covering tomorrow.
Traders and investors should consider these levels and patterns alongside other technical and fundamental factors when making trading decisions. Market conditions can change rapidly, so risk management remains important.