Nifty 50 and Sensex both witnessed strong selling pressure, where Nifty closed around 23,897, down by -275 points (1.14%), and Sensex also declined by around -999 points (1.29%), indicating short-term weakness in the market.
if we look at the current data at the time of writing this article at GIFT Nifty, it is trading near 24,136 and is up by around 184 points (0.77%), which suggests a possibility of a positive opening on Monday. This indicates that the market may open with a gap-up, but considering the previous session’s selling pressure, it is important to wait for proper confirmation before taking any trade,
Nifty 50 and Sensex had already witnessed strong selling pressure in the previous session, where Nifty closed around 23,897, down by about -275 points (1.14%), and Sensex also fell -999 points (1.29%), indicating short-term weakness in the market. This recent downside movement is largely influenced by global uncertainty, especially concerns around tensions in the Middle East. If we observe the past week, the market has closed nearly three times with more than 1% downside, which clearly shows sustained selling pressure.
Today Nifty 50
If we look at the daily time frame of Nifty 50, the key levels to watch are support near 24,000 and resistance around 24,200, which will play an important role in deciding the next move. On the 4-hour time frame, the market has already closed below the 20 EMA, which indicates short-term weakness. Additionally, if we observe the RSI, it is currently around 42, which suggests a bearish momentum and supports the view of a continuing downtrend unless strong buying comes in
Today Sensex
For BSE Sensex, the key levels to watch are support around 77,500 and resistance near 79,000, which will be crucial for the next market direction. On the daily time frame, the market has closed below the EMA with a red candle, indicating weakness in the overall trend. The RSI on the daily chart is around 47.4, which reflects a slightly bearish sentiment.
To get a clearer view, if we shift to the 4-hour time frame, the price has again closed below the 20 EMA, even though the candle appears green, showing that short-term recovery attempts are still weak. Additionally, the RSI is near 39, which further supports the view of bearish momentum in the market. Overall, the structure suggests that the market remains under pressure unless it reclaims key resistance levels .
Top Stocks in Downtrend (More than 1% Fall)
In the current market scenario, several major stocks from Nifty 50 and related segments are trading with more than 1% downside, indicating broad-based weakness. Key names include Kaynes Technology India, Titan Company, SRF Limited, Solar Industries India, Deepak Nitrite, Shree Cement, Bajaj Finserv, Hero MotoCorp, and Infosys.
These stocks are currently showing clear downward momentum, which reflects overall market pressure. At the same time, such stocks can provide trading opportunities, where traders can plan their setups based on support and resistance levels, trend continuation, or pullback strategies.
Disclaimer
The information provided in this article is for educational and informational purposes only and should not be considered as financial or investment advice. Market analysis, including levels of Nifty 50 and BSE Sensex, along with stock-specific discussions, are based on current market conditions and personal observations at the time of writing. The stock market is highly volatile and influenced by global factors such as economic data and geopolitical events.
Investors and traders are advised to do their own research (DYOR) and consult with a certified financial advisor before making any investment decisions. The author is not responsible for any financial losses incurred based on this information.
