Summary:
Nifty prediction for October 1: Nifty 50 closed at 22,620.45 on September 30, down 0.42%, extending its decline for a third session. With momentum indicators weak, traders will track 22,500 support, 22,800–23,000 resistance and deeper support near 22,222.
What is the Nifty prediction today, October 1?
The Nifty 50 remained under selling pressure for the third straight session on Wednesday, September 30, ending at 22,620.45, lower by 95.75 points or 0.42%. The index began the session at 22,665 and recovered to an intraday high of 22,809.95, but the rebound failed to sustain. Selling at higher levels dragged the index to a low of 22,595.20 before it eventually settled near the lower end of the day’s range.
The overall chart structure continues to favour the bears, with the benchmark trading below important support levels as well as key moving averages.
Nifty 50 Today: Key Numbers for October 1
| Indicator | Level |
|---|---|
| September 30 Close | 22,620.45 |
| Change | -95.75 points (-0.42%) |
| September 30 Open | 22,665 |
| Intraday High | 22,809.95 |
| Intraday Low | 22,595.20 |
| Immediate Support | 22,500–22,550 |
| Deeper Support | 22,222 |
| Immediate Resistance | 22,800–23,000 |
| Major Resistance | 23,120 |
| Daily RSI | 25.27 |
| Hourly RSI | 34.67 |
| 15-minute RSI | 36.59 |
| Daily ADX | 36.78 |
The September 30 close and technical readings are consistent with end-of-day market data, which showed Nifty at 22,620.45, with daily RSI around 25.3 and ADX around 36.8.
Weak Breadth Keeps Market Sentiment Under Pressure
The underlying market breadth remained unfavourable during the session. Of the 50 Nifty constituents, 18 stocks closed higher while 32 ended in the red, highlighting continued weakness across a majority of index stocks.
On the sectoral front, CNX Media, CNX Realty and Nifty India Defence were among the better-performing pockets. However, gains in these segments were not broad enough to offset weakness elsewhere in the market.
Nifty Technical Analysis: Index Remains Below Key Resistance Level
From a technical perspective, the bearish setup remains intact. Nifty continues to trade below the crucial 23,120 level, which has now turned into an important resistance zone after previously acting as support.
The index has also moved below the 22,700 mark and remains under its major exponential moving averages on the daily chart. The hourly setup tells a similar story, with Nifty trading below key EMAs across shorter timeframes.
The next important support visible on the daily chart is placed around 22,221.85, making this level significant if the ongoing decline extends further.
Nifty RSI Today: Daily RSI Remains Deeply Oversold, Trend Strength Still Favours Bears
Momentum indicators continue to reflect weakness. The daily RSI is placed at 25.27, indicating deeply oversold conditions. The hourly RSI stands at 34.67, while the 15-minute RSI is at 36.59.
Although the index has entered oversold territory on the daily timeframe, there is still no convincing evidence of a reversal. Oversold conditions can persist during strong downtrends.
This is also reflected in the ADX readings. The daily ADX stands at 36.78, while the hourly ADX is at 43.77, suggesting that the existing directional trend remains strong. Until momentum begins to stabilise, any recovery could remain vulnerable to selling pressure.
Nifty Support and Resistance Levels for October 1
The key levels to watch during the October 1 session are:
| Level | Significance |
|---|---|
| 22,500–22,550 | Immediate support zone |
| 22,222 | Deeper daily-chart support |
| 22,595–22,620 | Recent session low/close zone |
| 22,700 | Near-term recovery hurdle |
| 22,800–23,000 | Immediate resistance zone |
| 23,006–23,120 | Higher resistance area |
| 23,120 | Major resistance |
For the October 1 session, the 22,595–22,620 region will act as the first immediate support zone, considering Wednesday’s low and closing level. A sustained move below this band could increase the possibility of a decline towards the stronger support near 22,221.85.
What Could Change the Nifty Trend Today?
Three technical developments will be particularly important:
1. Nifty Holds Above 22,500
Sustaining above the immediate support zone could help the index attempt a recovery towards 22,800–23,000.
2. Nifty Breaks Below 22,500
A decisive breakdown below this level could bring the deeper 22,200–22,222 support zone into focus.
3. Nifty Reclaims 23,120
A sustained move above 23,120 would indicate that the index is beginning to recover from its current technical weakness.
Until then, rallies may continue to face selling pressure.
On the upside, Nifty is likely to face its first hurdle in the 22,700–22,800 zone. Beyond this, the 23,006–23,120 region remains an important resistance area.
A decisive and sustained move above 23,120 would be needed before the short-term technical structure begins to show signs of meaningful improvement. Until then, the broader setup remains tilted in favour of the bears.
Stocks to Watch Today Alongside Nifty
While the Nifty trend remains weak, company-specific developments could drive individual stocks during today's session.
For investors tracking individual stocks alongside the broader index, see our Stocks to Watch Today, October 1 article for companies in focus following key orders, corporate announcements, management developments and other market-moving updates.
