Daily Stock Market Report: October 04

Nifty 50 witnessed a sharp decline right after its opening with a gap down. However, it regained all the ground it had lost by the end of the day.

Daily Stock Market Report: October 04

Nifty 50 opened on a negative note with a gap down of -82.45 pts (-0.42%). The index witnessed a sharp decline right after its opening which continued for the first few hours. However, in the latter part of the day, the index staged a surprising recovery, regaining all the ground it had lost.

As the closing bell rang, Nifty 50 ended the day nearly at its opening level, with a marginal decline of -0.47%.

Key Observations:

  1. A Dragon Fly Doji pattern has appeared on the daily charts, signaling a potential bullish reversal following a series of bearish days. However, this bullish pattern faces a challenge in the form of a gap, which is expected to act as a resistance level.
  2. Despite the emergence of the bullish pattern, our outlook remains cautiously neutral to bearish until the gap is filled and breached on the upside.

Spot Signals

Below are the Top Movers from our Live Market Feed:

  1. POLYPLEX (-2.59%)

2. NIRAJ - BE (+1.73%)

Quant Signals

Under the most popular configuration, 'Back Up' ended the day with a loss of -1.08%, and 'Quick Short' with -0.06%.

Broker Signals

Below are the positions that were closed:

  1. AAVAS (+15.4% in a month)

2. CHOLAFIN (+16.8% in 2 months)

3. METROBRAND (+15.2% in 2 months)

Coming back to the report…

Data Points


Calls - Strike Price

Puts - Strike Price

Max OI



The highest CE OI is at 19600, and PE at 19400 levels. This means markets are expected to revolve around these levels in the upcoming session.

Levels Worth Monitoring Tomorrow

Analyzing the hourly chart, we may witness a turn-around at 19500 levels which appears to be a significant resistance level based on both price action and data.

On the flip side, it's worth noting that today's low is poised to serve as a support level for tomorrow's expiry.

Disclaimer: The opinions expressed in this blog are personal views and should not be considered financial advice. Please do your own research and consult with a professional before making any investment decisions.

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