Archive · 25 Sep 2026
Nifty Breaks Four-Month Support, Making 23,000 Crucial Tomorrow
Nifty fell sharply on Thursday after opening lower than the previous session.
It broke below an important support area near 23,070 that had held for about four months.
Traders are now watching the round-number level of 23,000 closely.
If Nifty stays below that level, it could fall toward 22,719.
If it rises, the area between 23,282 and 23,350 may act as resistance.
Technical indicators such as RSI and MACD suggest that Nifty’s short-term momentum has become more negative.
In contrast, South Indian Bank recently moved above a triangular trading pattern.
Its strong trading volume and moving-average position suggest improving momentum.
The article therefore presents a weak outlook for Nifty but a positive setup for South Indian Bank.
Nifty opened lower on Thursday and formed a long bearish candle after breaking down from Wednesday’s inside-candle pattern.
The index closed below the 23,070 level, breaking its four-month horizontal support zone.
A sustained break below 23,000 could push Nifty toward the next support at 22,719.
Any recovery may face resistance in the September 24 gap zone between 23,282 and 23,350.
South Indian Bank broke out of a triangular pattern on strong volume, while its momentum indicators turned positive.
- Who
- Nifty and South Indian Bank are the main securities discussed.
- What
- Nifty broke below its four-month support zone, while South Indian Bank broke out of a triangular pattern.
- When
- The Nifty breakdown occurred on Thursday after an inside candle formed on Wednesday; the outlook is for the next session and near to medium term.
- Where
- The analysis concerns the Nifty market and South Indian Bank trading on the NSE.
- Why
- Nifty faced increased selling pressure and weakening technical momentum, while South Indian Bank gained support from strong volume and improving indicators.
- Nifty close below
- 23,070, the June 8 swing low and four-month horizontal support level
- Critical Nifty level
- 23,000
- Next Nifty support
- 22,719
- Nifty resistance zone
- 23,282–23,350, corresponding to the September 24 gap zone
- Nifty RSI
- Near 31; it failed to cross 40 during the recent recovery attempt
- South Indian Bank breakout
- Breakout from a triangular formation, supported by the highest single-day NSE volume in over two months
- South Indian Bank momentum
- RSI entered bullish territory, while MACD remained above its nine-period average