The Nifty 50 faced persistent selling pressure during the monthly F&O expiry week, decisively breaking 24,900, which coincided not only with the 50 DEMA but also with the 50% retracement of the recent rally (24,400-25,450) on September 25. Bears maintained tight control over the market for the fifth consecutive session.

Furthermore, the index fell below the midline of the Bollinger Bands on both the daily and weekly charts, although it marginally managed to defend the 10-week EMA on a closing basis.

Momentum indicators also signalled weakness. The RSI dropped below the 50 level, at 46.2, with a bearish crossover, while the MACD gave a negative crossover with the histogram turning weak on the daily charts. On the weekly scale, the MACD continued to maintain a negative crossover, with the

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