Jose Mathew

From a technical perspective, momentum indicators continue to signal a bearish trend.

From a technical perspective, momentum indicators signal a positive trend, as the index remains above its medium- and long-term moving averages.

Nifty 50 fell 1.41% on Monday, extending its losing streak. Negative momentum indicators hint at further dips if it breaks 25800 support. Bank Nifty also closed lower.

Nifty closed at 26,178.95, down 0.14%, with downward bias likely to continue if it dips below 26,150. Bank Nifty also lost 541 points, indicating a negative market sentiment.

The Nifty technical outlook suggests continued bullishness in both Nifty and Bank Nifty, but traders should stay cautious around key support levels to manage potential downside risk.

However, traders should watch key support levels for any signs of reversal

On Wednesday, the market breadth was negative, with 1,186 stocks advancing, 1,453 declining, and 84 remaining unchanged.

The Nifty and Bank Nifty display strong bullish trends; traders should watch key support and resistance levels closely as the indices approach crucial milestones.

From a technical standpoint, momentum indicators continue to reflect a positive outlook

Momentum indicators continue to reflect a positive trend, with the Nifty trading above both short-term and long-term moving averages.