Trade set up for Indian equity markets for October 2020

The Nifty Small & Midcap closed near their respective 50-day moving average. Both indices snapped their 2-week gaining streak as the midcap gauge snapped its 5-day losing streak.
The Nifty Pharma index rebounded from its 50-day moving average but also made a bearish engulfing pattern on its weekly chart. Similarly, the Nifty PSU Bank index along with the Auto index made a bearish engulfing pattern on their respective weekly chart.