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Can Nifty break the 8-week deadlock or will pain continue? Here’s what charts indicate
Economic Times 1 hr ago·5 Oct 2026, 6:58 am
The Nifty 50 index has ended a 25-year record for the longest weekly losing streak, but the rebound may not be the start of a fresh rally. Technical charts show the index is currently stuck in a consolidation phase, hovering near a critical support zone between 21,743 and 22,182. This area is crucial because a decisive break below it could trigger a deeper pullback, potentially testing the 19,000 and 16,700 levels.
For investors, the key focus now is whether the index can push past the immediate resistance at 22,550–22,600. A failure to do so could keep the broader downtrend intact, suggesting that the recent recovery was merely a short-term relief rally. Market participants should watch for volume and momentum to gauge if the index can break free from this deadlock or if the pain will continue.
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