Daily Market Quote: 01 October 2026

Authored By Prime Research | Published at: Oct 1, 2026 04:17 PM IST

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Nifty witnessed climax selling on Thursday before showing a reasonable recovery from the lows towards the end. This week’s bearish trend has resulted in a record 8 weeks of consecutive declines in trot that was repeated after two decades, as per weekly timeframe chart.

Nifty is currently placed around the crucial support of ascending trend line at 22400 levels (connected between the swing lows of mid of April 25 and early April 26). But still, there is no significant evidence of any bounce back emerging from the lows.

The underlying trend of Nifty continues to be weak. Further decline below the key support of 22200 could trigger next round of weakness down to 21800 levels by next week. However, any bounce back from here could find crucial overhead resistance around 22700 levels.

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