Share Market Accident: Nifty 50 Breaking Sleuts Support Levels After 1% Drop, More Correction Probably, says analysts

The Nifty 50 recorded its steepest decline in three months, with 1.02% to 24.712 in Tuesday’s trade, as the investor sentiment soured after the US Department of Home Security would impose an additional 25% tariff on all Indian origin from Wednesday, elevating the outlook for the third largest economy in Asia. Heavy weights such as Reliance Industries, HDFC Bank, ICICI Bank, Bharti Airtel, Sun Pharma and Axis Bank dragged the index lower. With today’s accident, the index also broke its most important support level of 24,800, and analysts warned that the sale could continue if the Nifty remains under 24,600. Analysts flag further downside with 24,600–24.450, as the Key Zones Hariprasad K, a Sebi-registered research analyst and founder of Livelong Wealth, said that the Nifty slipped below the most important support of 24,800 and 24,700, with a low of 24,689. He noted that the 24,600 zone is now becoming an important level-or-break level, with an offense that may open the way to 24,450, indicating a deeper clumsy trend in September. At the top, he added, only a move above 24,850 can restore a positive bias. Bajaj Broking noted that the index forms a substantial candlestick with a lower high and lower layer, indicating an affirmative bias. The broker emphasized that a follow -up weakness under the lower tire of the gap of Monday (24.673) of the previous Monday can open further to 24,500–24,400, while holding the tire can lead to a comfort between 24,670 and 25,000. While the short-term support base is higher to 24,500-24,350 levels the confluence of the 100 day EMA and the recent lows about 24,350 levels. Ajit Mishra, SVP, research, religious broker, pointed out that the Nifty’s slipped below the 20-day exponential moving average (20-dema) and the bank Nifty’s violation of its base about 54,900 signal further disadvantage. He expects the index to fill the recent gap and test its moving average in the medium term about 24,600. Amruta Shinde, technical and derivative analyst at Choice Equity Broking Private Limited, said: “The Nifty opened on a poor note and formed a strong, clumsy candlestick throughout the day, which has a sustained sales pressure. Rates? Relative stability can offer important triggers to monitor foreign fund flow, global market trends and any policy measures aimed at dampening trade -related problems. to check before making investment decisions.