By earn 
Nifty’s Falling Streak
On October 7, the market performance took a notable downturn as Nifty fell for the sixth consecutive session. Closing at 24,795.8, this decline of 0.87% marks the most significant drop in a six-day stretch since March 2022. Investors observed a concerning advance-decline ratio of 0.12:1, alongside flat cash market volumes, which contributed to the overall lack of momentum in the market.
Global Market Influences
In the backdrop of Nifty’s decline, Asian markets experienced a rise, buoyed by positive job data from the U.S. These favorable figures seem to have created an optimistic sentiment in the Asian trading arena. Conversely, European markets presented a mixed bag, grappling with the weight of declining factory orders in Germany and the pressures stemming from higher bond yields.
Market Indicators and Outlook
As Nifty’s trend remains weak, it is essential for investors to note that it has dropped below the critical support level of 24,753. Current resistance stands at 25,015, with a support range identified between 24,347 and 24,367. Traders should remain vigilant, as these levels will likely dictate future market movements. Understanding these dynamics is crucial for navigating the volatility in the current market performance.
