Nifty Outlook for 06-Oct-2026 Looks Range Bound

The NIFTY 50 index closed at 22,555.75 on October 5, 2026, gaining 133.80 points (+0.60%) ahead of the upcoming weekly derivative expiry and the RBI monetary policy announcements later this week. There is clear RSI divergence visible on Daily charts price is making lower low and RSI Is making higher highs. Daily candle stick today is a Doji and we need to wait for a strong follow up candlestick to confirm the reversal. Daily MACD Histogram below zero and Hourly MACD Histogram above zero indicates a tug of war between buyers and sellers. Thus, the overall trend of Nifty looks to be in a range, and thus the markets might move either side. Buy on dips and sell on rise would be the best strategy to deploy for today’s market considering the overall trend of Nifty. We may expect a change in trend only if the price sustains below the support level or above the resistance level. I have provided Nifty Spot resistance and support levels which would help you learn in taking informed trading decisions using these levels and understand how support and resistance levels work in financial markets. Nifty Spot Resistance 1 - 22660 Resistance 2 - 22695 Support 1 - 22420 Support 2 - 22380 Happy Learning, Happy Trading and have a wonderful day Top Gainers : ITC, BSE, TMPV