The Nifty 50 reversed more than half of its recent rally during the latest correction, falling 166 points and extending its weakness for the fifth straight day on September 25. Technical and momentum indicators suggest further downside in the market, as the index slipped below the crucial support level of 24,900. As long as the index remains below this level, bears may continue to hold the upper hand and drag the index toward the 24,600–24,500 zone. However, in the event of a rebound, the 25,000–25,100 range is expected to act as an immediate hurdle, according to experts.
Here are 15 data points we have collated to help you spot profitable trades:
1) Key Levels For The Nifty 50 (24,891)
Resistance based on pivot points: 25,036, 25,086, and 25,168
Support based on pivot points: 24,87