5 hrs ago
Nifty Falls Below 23,000 as Bears Target Lower Support
The Nifty stock index fell sharply on Monday and moved below 23,000.
This means many large Indian companies lost value.
Banking and financial companies were among the main sources of weakness.
Smaller and medium-sized company indexes also dropped by more than 1.60%.
Experts think the market could fall toward 22,650 or even 22,500.
They said levels around 22,800 to 23,000 could make it harder for the index to rise.
Higher oil prices and rising bond yields are worrying investors.
Tensions in the Middle East could push oil prices and inflation higher.
Some analysts said the market is oversold, so a temporary bounce is still possible.
The Nifty fell 1.56% on Monday, its sharpest intraday decline since July 8, 2026.
Banking and financial services stocks contributed to the market’s decline, with all major sectoral indices ending lower.
Nifty Midcap 100 and Nifty Smallcap 100 each fell more than 1.60%.
Analysts identified support between 22,650 and 22,500, while resistance was placed near 22,900-23,000.
Higher crude prices, rising bond yields and Middle East tensions are adding to the cautious outlook.
- Who
- Indian equity investors, the Nifty index and analysts from SBI Securities, Kotak Securities and LKP Securities.
- What
- The Nifty fell 1.56% below 23,000, with analysts warning of further weakness toward 22,650-22,500.
- Where
- India’s stock market.
- When
- Monday; the outlook discussed is for September 29.
- Why
- Selling pressure was intensified by weakness in banking and financial services, higher crude oil prices, rising bond yields and Middle East tensions.
Further Weakness
Possible Relief Bounce
Near-term market direction
Further Weakness
Sudeep Shah and Rupak De said the bearish trend remains intact, with the Nifty potentially moving toward 22,650 and lower.
Possible Relief Bounce
Shrikant Chouhan said temporarily oversold conditions could trigger a pullback.
Important trading levels
Further Weakness
A sustained move below 22,800 could keep sentiment weak, with support around 22,650-22,550.
Possible Relief Bounce
A move above 22,800 could lead to a bounce toward 23,000-23,050.
Market pressures
Further Weakness
Rising US bond yields, crude oil prices and Middle East security risks are reinforcing the negative bias.
Possible Relief Bounce
The article does not identify a fundamental reversal, but analysts note that oversold conditions may temporarily support prices.
Key facts
- Nifty decline
- 1.56%, its steepest intraday fall since July 8, 2026
- Key support
- 22,650-22,500
- Key resistance
- 22,900-23,000
- Brent crude
- Rose more than 3.8% to around $108 a barrel
- Broader market
- Nifty Midcap 100 and Nifty Smallcap 100 both fell more than 1.60%
- Top gainers
- Dr. Reddy’s Laboratories and Infosys
- Major losers
- Tata Motors Passenger Vehicles and Adani Enterprises
Sources
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