📈 Stock Market Today: All You Need to Know Before Trade | October 15

🌞 Good Morning, Investors!
Welcome to today’s market update! Here’s a quick look at how the Indian and US markets performed in the previous session and the key factors investors should watch before the opening bell.

🇮🇳 Indian Market Recap
Indian equity benchmarks ended lower on Wednesday, weighed down by selling pressure in pharma and financial stocks.
🔴 Sensex: Fell 251.89 points (0.34%) to close at 72,781.89
🔴 Nifty 50: Declined 99.25 points (0.44%) to settle at 22,622.70
🔴 Bank Nifty: Dropped 165.05 points (0.30%) to 55,316.00
📉 Market takeaway: Weakness in pharma and financial stocks dragged the benchmark indices lower, reflecting cautious investor sentiment.

🇺🇸 US Market Recap
Wall Street ended Wednesday’s session on a mixed note as stronger-than-expected inflation concerns put pressure on investor sentiment and pushed bond yields higher.
🔴 Nasdaq Composite: Fell 0.65% to 27,027.44
🔴 S&P 500: Declined 0.38% to 7,775.90
🟢 Dow Jones Industrial Average: Gained 0.18% to 51,764.26

🌎 What drove the market? US consumer prices recorded their biggest increase since April, fuelling concerns that persistent inflation could complicate the Federal Reserve’s interest-rate outlook.

🔍 What to Watch Today
📊 Market opening: Watch for cues from global markets and the prevailing trend in Indian equities.
🏦 Banking and financial stocks: Track whether selling pressure continues in financial shares.
💊 Pharma stocks: Monitor further weakness or signs of recovery in the sector.
🌍 Global cues: US inflation data, Treasury bond yields and expectations around Fed policy may influence sentiment.
⚡️ Volatility: Keep an eye on index movements and key support and resistance levels before taking fresh positions.

GIFTNifty lower, indicates a start in the red for the Indian market

Key Levels For The Nifty 50 (22,623)

Resistance based on pivot points: 22,723, 22,769, and 22,846

Support based on pivot points: 22,570, 22,524, and 22,448

Special Formation: The Nifty 50 formed a small bearish candle with upper and lower shadows on the daily chart, indicating indecision and a lack of clear directional conviction amid continued volatility. The index failed to sustain above its 10-day EMA after closing above it in the previous session. Overall, the index continues to trade below all key moving averages, with the 20-day, 50-day, 100-day and 200-day EMAs trending downward. The Relative Strength Index (RSI) edged down to 41.66 but remained above its signal line. Meanwhile, the Moving Average Convergence Divergence (MACD) maintained a bullish crossover despite trading below the zero line, while the green histogram bar expanded further. These indicators suggest that bearish pressure may be easing, although the broader technical structure remains weak.

Key Levels For The Bank Nifty (55,316)

Resistance based on pivot points: 55,558, 55,671, and 55,853

Support based on pivot points: 55,194, 55,082, and 54,900

Resistance based on Fibonacci retracement: 55,897, 57,285

Support based on Fibonacci retracement: 55,049, 54,053

Special Formation: The Bank Nifty formed a small-bodied bearish candle with noticeable upper and lower shadows on the daily chart, indicating indecision between bulls and bears. The index managed to hold above its 10-day exponential moving average (EMA) on a closing basis but slipped below the 20-day EMA and the midline of the Bollinger Bands after closing above these levels in the previous session. The index continues to trade below its 20-day, 50-day, 100-day and 200-day EMAs, indicating a weak broader technical structure. The RSI declined to 46.71 but remained above its reference line. Meanwhile, the MACD line stayed above the signal line for the fourth consecutive session, while the green histogram bar cont...