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.
Foreign investors shift from India to China amid rising uncertainty and intensifying West Asian tensions. Indian markets closed lower yesterday, no signs of improvement today.
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.
Bulls are optimistic despite persistent selling pressure, with foreign investors showing interest in Indian stocks. Japanese markets slump amid political changes, while crude oil prices rise.
The Nifty rose by 0.23%, reaching a fresh all-time high of 26,277 before closing with a 0.14% drop at 26,199. The Sensex hit a new peak of 85,978, climbing 0.16%, but ended the session at 85,615, a 0.30% fall from its previous close.
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.