Stock Market bullish in October

The Indian stock market went through a sharp correction in today’s session. At opening, Nifty made a high of 17903 and then dropped to low of 17586 while Bank Nifty made a high of 38377 followed by low of 37351. From these lower levels, indices witnessed a quick recovery. Nifty closed at 17732 and Bank Nifty closed at 38000. It looks like the bottom of Indian indices is already in. The next two sessions might be slightly volatile. If there is any drop seen, recovery would happen towards closing. The month of October 2021 is bullish for Indian stock market. Accumulate long position at dips. Fertilizer, chemical, automobile, realty, IT, banking and finance stocks may move higher. Will Bank Nifty touch 40,000?

The US market may witness some volatility in the next 2 days. However, the month of October is favorable for equity indices. S&P500 will again cross 4550.

Key changes in planetary combination:

2nd October: Mercury moves from Libra to Virgo in retrograde motion while Venus moves from Libra to Scorpio.