Market move▼ Bearish for Indian equities
Trade Setup For Oct 5: Nifty Finds Support At 22,600-22,400 Levels Amid Hormuz Disruption, Persistent FII Outflows
The brief
- Nifty support is seen at 22,600-22,400 amid Hormuz disruption and persistent FII outflows
- Bank Nifty’s crucial support zone is 53,800-53,700
- FII outflows and oil-supply disruption could weigh on Indian equities and energy-sensitive sectors
- More tankers struck in the Middle East as Iran reiterates conditions for reopening the Strait of Hormuz
- Iran says Strait of Hormuz will stay closed until US meets seven conditions
- 325 million oil barrels released to counter global energy crisis: IEA
- Iraq says it moved 2 million barrels of crude through Strait of Hormuz
- Five Indians rescued after projectile strikes tanker in Strait of Hormuz