Indian Trade setup for equity markets for October, 2020

India’s Nifty index made an inside bar last week with the close being higher than the open after gaining 3 out of the last 4 weeks. It also gained 4 days last week.
The Nifty Bank touched its 50-week moving average for the first time since 1 March 2020 and also managed to advance 3 out of the last 4 weeks. However, the banking gauge closed off the day’s high.
The Nifty Midcap index gained all days last week and snapped its 2-week losing streak. It also outperformed the Nifty for the first time in 3 weeks.