Nifty slide brings 18 month old support back to the fore

What happened: Nifty 50 is under fresh pressure and analysts are focused on the 21,743.65 level, the intraday low touched on 7 April last year, which the index has not tested since. Key numbers: Support level 21,743.65. Prior drawdown 17.25% from a high of 26,277.35 on 27 September 2024. Why it matters: Analysts expect the level to hold for now, with Sahaj Agrawal of Kotak Neo seeing a bounce to around 23,500-23,600 if respected, while a decisive break could raise chances of a further correction and require reassessing the medium-term structure.

Nifty slide tests 18-month support level, signaling potential technical breakdown.

Nifty slide tests 18-month support level, signaling potential technical breakdown. — impact context not separately stored; see What changed.