In the previous week, the market closed slightly positively. Today’s Mercury retrograde will be a trend decider in the next 2 days. If the trend remains positive by Tuesday then it’ll continue trading higher with some volatility until 18th October 2021. If the trend remains negative by Tuesday then it’ll continue trading lower with some volatility until 18th October 2021.
Keep the technical levels in mind. S&P500 (Spot) has support at 4420 and resistance at 4485. DOW (Spot) has support at 34500 and resistance at 35100. NASDAQ (Spot) has support at 15200 and resistance at 15500. RUSSELL has support at 2220 and resistance at 2280.
Mercury turns retrograde today. Watch the trend in the next 2 days; if it remains positive then the uptrend may continue with volatility till 18th October 2021. Otherwise, a downtrend with volatility may be visible till 18th October 2021.
Today, it is Rohini nakshatra. The market will remain positive for the day. Watch technical levels.
Nifty has support at 17750 and resistance at 18000. Bank Nifty has support at 37400 and resistance at 38300.
Gold has support at 1740 and resistance at 1772. Silver has support at 22.20 and resistance at 22.80. Ups and downs are possible this week. Uncertainty is indicated. From 1st October 2021, an uptrend with volatility is possible. Long Gold and Silver at dips with S/L 1740 and 22.20 respectively.
Copper may behave positively in October 2021. Accumulate long position at dips. Support lies at 4.17 while resistance lies at 4.50 or higher.