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Will Dalal Street Extend Its Losing Streak Or Stage A Short-Term Recovery? Here’s What Analysts Say
Will Dalal Street Extend Its Losing Streak Or Stage A Short-Term Recovery? Here’s What Analysts Say
Sensex, Nifty Outlook: Indian equity benchmarks extended their decline for a second consecutive session on Tuesday, ending sharply lower amid broad-based selling pressure and weak global cues.
The Sensex slumped 1,065.71 points, or 1.28 percent, to close at 82,180.47. During intraday trade, the index plunged as much as 1,235.60 points, or 1.48 percent, to hit a low of 82,010.58.
The Nifty 50 dropped 353 points, or 1.38 percent, to settle at 25,232.50, marking its steepest single-day fall since April 7, 2025. The benchmark also recorded its lowest closing level since October 15, 2025.
The Nifty opened on a weak note and remained under pressure throughout the session. Selling was visible across most sectors, with realty, auto and IT stocks leading the decline, while banking stocks offered only limited support.
Broader markets remained under severe stress, with midcap and smallcap indices falling by up to 3 percent, highlighting heightened risk aversion and fragile investor sentiment.
Market experts said the 25,400–25,600 zone is likely to act as an immediate hurdle for the Nifty.
Ajit Mishra, Senior Vice President (Research) at Religare Broking, said the index has approached a crucial support zone near its long-term moving average.
“After this decline, the Nifty has moved close to its 200 DEMA, placed around the 25,150 level. A brief pause or rebound cannot be ruled out at these levels; however, any recovery will largely depend on the performance of banking and IT stocks, which have shown relatively better resilience so far," Mishra said.
He added that the 25,400–25,600 zone would act as immediate resistance on any rebound, while a decisive break below the long-term moving average could push the index towards the 24,900 level. Mishra advised investors to keep position sizes light and trade in line with the prevailing trend.
Sudeep Shah, Head – Technical and Derivatives Research at SBI Securities, said the benchmark witnessed a sharp selloff with selling pressure dominating the entire session.
“With this decline, the Nifty has corrected over 4 percent in just 10 trading sessions, making it one of the fastest short-term declines in recent months," Shah said.
He noted that the index is hovering near its 200-day exponential moving average, a key long-term support level closely watched by traders and institutional investors. The daily RSI has slipped to 29.27, its weakest reading since March 2025, indicating oversold conditions along with strong downside momentum.
“Going ahead, the 25,370–25,400 zone will act as immediate resistance. As long as the index trades below 25,400, overall sentiment is likely to remain weak. The next support is seen at 25,080, and a break below this level could drag the index towards 24,900 in the short term," Shah added.
On the banking front, Bank Nifty also closed lower, extending its recent weakness. The index slipped below its 20-day EMA, signalling a loss of short-term momentum after showing relative resilience in earlier sessions.
According to Shah, immediate support for Bank Nifty lies in the 59,000–58,900 zone. A breakdown below this range could trigger further downside, while the 59,900–60,000 band is expected to act as a key resistance area in the near term.
Sectorally, realty stocks plunged 5.21 percent, services fell 2.89 percent, capital goods declined 2.76 percent, consumer discretionary dropped 2.73 percent, consumer durables slipped 2.71 percent, telecom lost 2.42 percent, auto shed 2.36 percent and power stocks fell 2.23 percent.
Source: News18
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