Finance Desk – The Nifty and Bank Nifty stock indices have been falling for three days in a row. This happened right before the U.S. Federal Reserve decided to lower interest rates slightly, which usually impacts financial markets. Both Nifty and Bank Nifty have dropped below average levels, suggesting they might either stabilize or continue to drop.
For the Nifty, a key point to watch is 24,050. If it drops below this, it might fall even more to 23,873. On the other hand, if it goes above 24,350, it could start to recover. Similarly, for the Bank Nifty, if it falls below 51,840, it could go down to 51,700 or lower. The next important mark for recovery would be 52,650.
On December 18, the Nifty index closed at 24,199 (down by 137 points), and the Bank Nifty ended at 52,140 (down by 695 points), showing more stocks lost value than gained.
Technical analysis, which helps predict future market movements based on past trends, suggests that both indices might continue to fall unless they can break through certain high points. If Nifty drops below 23,800, it could further decrease to 23,250. Similarly, if Bank Nifty drops below 51,600, it might decrease to 49,600.
Investors and traders should watch these levels closely. If the indices fall below these key points, it could mean more declines are coming. However, if they stay above these levels, there might be a chance for the markets to stabilize or even improve.
