On the weekly expiry day, the markets recovered and gained over half a percent. Markets began trading on October 5 with a good mood, but after an uptrend in the first hour, the index remained in a range for the rest of the day, settling at 19545, up 109 point. Meanwhile, a mixed trend on the sector front kept traders busy, with the automotive and IT sectors seeing a decent rebound. Market breadth also ended on the positive side thanks to a rise in the smallcap index. Participants should not expect much from a one-day recovery and wait for the Nifty to reclaim the short-term moving average (20 EMA) for a sustained recovery. Currently, select IT majors are at the forefront, while others take turns taking on supporting roles. We need an improvement in broader participation to change the course of the market. Above all, it is advisable to keep an eye on leveraged positions and prefer the main indices over others.
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