Daily Market Quote: 05 October 2026

Authored By Prime Research | Published at: Oct 5, 2026 04:21 PM IST

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After showing sharp weakness in the last few sessions, Nifty shifted into a bounce back on Monday from near the support of 22400 levels closed the day with modest gains of 133 points.

A small bullish candle was formed on the daily chart with upper and lower shadow. This market action indicates a formation of high wave type candle pattern. This signal bounce back in the market amidst volatility.

The bearish chart pattern like lower tops and bottoms is intact on the daily timeframe chart and present bounce back could be in line with the new lower top formation in the market. Further upside from here could face strong overhead resistance around 22800 levels, where one may expect emergence of selling pressure from the lower highs. Immediate support is placed at 22400 levels.

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