Nifty Update for Week Sep 29-Oct 3 - Inder Bhatia

Hourly: The Indian market opened on a negative note and saw a sharp cut during the latter part of the session and closed in the red zone. For the coming session, if the Nifty trades below 3963 it could see 3800 levels, however trading above 4022 Nifty could test 4074-4121 levels .

Daily: Last week the Nifty lost 6.12 percent, as the global uncertainty and selling from FII closed in the red zone. For the coming session, if Nifty trades below 3953, it could test 3800, and testing the third time bottom is not a good technical sign, since it points to the fact that the Nifty would a make new low. If the Nifty closes above 4087 it could test 4120-4144 levels and closing below 3977, it would test 3869-3811 levels. Market will react more on global news.