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Published on 07-10-2026 10:34 am

Global News

• Dollar weakens as softer US data reduce October Fed hike bets: The US dollar remained subdued as easing stress in European bond markets supported the euro, while investors awaited the Fed’s September meeting minutes and speeches from policymakers for clues on the timing of further rate hikes. Softer-than-expected PCE inflation and jobs data have reduced expectations for an October hike, with the probability falling to 20.5% from around 51% a week earlier, while markets see an 84.5% chance of a December hike. The euro eased 0.08% to $1.1249, while the yen weakened 0.19% to 158.43/$ and sterling slipped 0.08% to $1.3262. Meanwhile, French bond-market pressure eased after Marine Le Pen increased her proposed spending cuts to €140 billion, supporting the euro. In Japan, dovish BOJ policymaker Ayano Sato backed gradual rate increases, although the yen weakened. Overall, markets are increasingly pricing a Fed pause in October and a potential rate hike in December, keeping the dollar's near-term direction dependent on upcoming US economic data and Fed guidance.

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Published on 07-10-2026 10:34 am

Economic News

• Cabinet approves Rs 10,000-crore SME Growth Fund and new authority to plan transport and logistics: The Indian government has approved a Rs10,000-crore SME Growth Fund aimed at supporting small and medium enterprises. Additionally, an Integrated Transport & Logistics Authority has been established to enhance transport infrastructure planning. This fund is intended to address equity capital gaps currently faced by SMEs and facilitate their growth. ITLA will create a comprehensive National Transport Master Plan to improve coordination across various transport sectors.

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Published on 07-10-2026 10:26 am

Intraday Rational :

• Trend - High wave candle at key retracement support

• Levels: Buy around 50% retracement of 2 days range and Mondays low

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Published on 07-10-2026 10:26 am

Technical Outlook :

• Bank Nifty started the day with positive opening and inched northward till previous session high around 55200. The daily price action formed a bull candle with higher high higher low indicating positive bias.

• Going forward follow through strength beyond 55400 (being last weeks high) would confirm resumption of uptrend and open door towards 56400-56600 levels being 61.8% retracement of current decline(58025- 53785) and 200-day EMA.

• Failure to do so would result into extended correction wherein strong support is placed around crucial support area of 53300 levels being 61.80% retracement of Apr-Jun rally (49955-58706).

• Among oscillators, weekly stochastics is placed at 21 levels rebounding from oversold territory indicating impending pullback.

• The PSU Bank Index closed flat for the day, largely Inside bar within previous session high low range indicating breather. Going ahead, support is placed at the lower band of past five months consolidation (9095-7809). While oversold placement of daily and weekly stochastic oscillator warrant for selling exhaustion in coming weeks.

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Published on 07-10-2026 10:25 am

Nifty Bank : 55128

Technical Outlook

Day that was :

Bank Nifty ended the day on positive note, at 55128 up 0.76% on back of positive business updates from index heavyweights and ahead of key event.

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