Can Nifty break the 8-week deadlock or will pain continue? Here’s what charts indicate

The Nifty 50 has been stuck in a downtrend for eight weeks, with no clear sign of a reversal. Technical indicators suggest the broader downtrend remains intact, which means the index may continue to struggle. If the Nifty 50 breaks below its current support level of 21,743–22,182, it could expose the index to further losses, potentially falling to 19,000 and 16,700. This would be a significant decline for the market.

Why it matters

Technical indicators suggest that the broader downtrend in Nifty remains intact, despite a recent rebound. This could lead to continued market volatility and decreased investor confidence.

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