Neutral impactStocks
Rohit Srivastava sees Nifty bottom near 23,167, HDFC Bank short covering ahead
CNBC-TV18 1 hr ago·15 Sept 2026, 10:11 am
Nifty 50 is showing signs of stabilizing after a sharp decline, with strategist Rohit Srivastava pointing to the 23,167 level as a key support area. This zone is significant because it coincides with oversold conditions, which historically have acted as a floor for the market. A 'selling climax' often occurs just before a market turns around, suggesting that the recent volatility may be nearing a peak.
For HDFC Bank, the outlook hinges on price action. If the stock crosses the ₹740 mark, it could trigger short covering—a move where traders buy back borrowed shares to close positions. This can push the price higher. Investors should watch for a sustained breakout above this level, as it would signal renewed buying interest in the banking sector.
Affected stocks
Neutral1 stock
Bull / bear label is derived from the article's AI sentiment — indicative, not advice. Prices may be delayed.
Key takeaways
- Concerns HDFC Bank (HDFCBANK).
- Category: Stocks.
- Assessed as a significant, market-relevant update.
Why it matters
A meaningful update for HDFC Bank worth tracking. Use the price and stock snapshot to gauge how the market is responding.
