Nifty Falls On Thursday, domestic benchmark indices had a weaker opening and continued to under pressure all day. Consequently, the index ended on a negative note at 21,957.5, closing below psychological thresholds of 22,000. From a technical perspective, the index has breached the rising channel support at 22,100 levels. As a result, 22,100 will serve as the index’s initial barrier, while the 21-Days Exponential Moving Average (DEMA) is situated at 22,400. The index found support last month at levels of 21,780, while the 100-DEMA is situated close to 21,817. Therefore, 21,780–21,820 will serve as the index’s next major support on the downside. The index may continue to be sluggish if it remains below 22,750.

The Bank Nifty had a negative opening gap and experienced pressure all day long until finishing at 47,488. Technically speaking, the index is weak because it broke through the 47,700 mark of support. The index will continue to be sluggish as long as it stays below 47,700. The 100-Days Exponential Moving Average (DEMA), which is situated around 47,050 levels, represents the next significant support level for the index should it fall below that level. Conversely, should Bank Nifty maintain its above 47,700 level, a relief rally to 48,200–48,500 may be feasible.

NIfty Falls with Bearish Pattern

Bearish pressure persisted on the Bank Nifty index, which closed below the critical 50-day exponential moving average (EMA). The index is currently aiming for its next immediate support around 47,400; a breach below this level may increase selling pressure in the direction of the 100-day moving average, or 47,050. The index finds immediate resistance on the upside above 48,000, where there is evidence of strong call writing. A clear break above this resistance level could lead to short-covering advances up to 48,500.

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After a day of consolidation, the market returned to its corrective posture, plunging about 1.5 percent. Although Nifty opened flat, it fell during the day, closing in proximity to the day’s low at 21,957.50. All of the key sectors—aside from the car industry, which held steady—were under selling pressure, with energy, metals, and real estate emerging as the top losers. Significant drops were also seen in the broader indices, which ranged from 1.9% to 2.7%.

Nifty has broken below the 50-day exponential moving average’s (DEMA) support level at 22,150 as well as the lower bound of its upward channel. The volatility index is still rising, which indicates that the current market mood might last and that Nifty might shortly challenge the 21,800–21,850 range. It is recommended that traders prioritize stock selection and make appropriate adjustments to their positions.

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