The Nifty 50 erased more than 50 percent of its gains from the record high by breaking below 25,800 and dropped closer to the 50-day EMA (25,700). Considering the bearish undertone, if the index breaks 25,700, a fall toward 25,500–25,400 can be seen, but holding above it can drive the index toward 25,800–25,950 in the immediate term, followed by the 26,000 zone. Meanwhile, as long as the Bank Nifty trades below 59,800, consolidation may continue, with 58,600 as support, as below it 58,300 and 58,000 levels can’t be ruled out, experts said.

On December 10, the Nifty 50 declined 82 points (0.3 percent) to 25,758, while the Bank Nifty fell 262 points (0.44 percent) to 58,960. The market breadth turned weak, with 1,591 shares witnessing selling pressure against 1,230 advancing shares on the N

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