Business · Markets · 3 hrs ago
Nifty ends losing streak but technical outlook remains weak
India’s Nifty50 index ended the week up 0.44%, just above 22,500, after a late rebound halted eight weeks of losses.
The index had fallen by more than 10% over that period as global uncertainty, rising bond yields and crude oil prices, currency fluctuations and an RBI rate hike weighed on sentiment.
Angel One said the broader technical trend remains weak, although a weekly chart pattern may point to a possible relief rally.
It identified 22,200–22,000 as a key support zone and said a break below it could lead to further declines.
Resistance sits around 22,750–22,800, with 23,000 another level to watch; a sustained move above these levels would be needed to revive buying momentum.
The brokerage highlighted Persistent Systems, Physicswallah and Trent as bullish stock ideas, while advising caution and attention to company earnings and global developments.
Investors will be watching whether the index can hold support or break through resistance as quarterly earnings season continues.
The Nifty50 ended an eight-week losing streak after rebounding in the final trading session.
It gained 0.44 percent for the week and settled just above 22,500.
The broader technical structure remains weak, with lower bottoms indicating a persistent bearish trend.
Angel One identified 22,200-22,000 as a crucial support zone and 22,750-22,800 as immediate resistance.
The report said a decisive move above resistance would be needed to signal a meaningful trend reversal.
- Who
- The Nifty50 index and market participants.
- What
- The Nifty50 ended an eight-week losing streak, but its broader technical outlook remained weak.
- When
- In the final trading session of the week discussed in the report. The article was published on 2026-10-12.
- Where
- Not stated.
- Why
- A rebound from a 52-week low helped the index finish the week higher; global uncertainties, rising bond yields and crude oil prices, currency fluctuations, and an RBI rate hike had weighed on sentiment.
This story does not have two clearly opposing sides.
No direct quotes in the coverage so far.
The Nifty50 had fallen by more than 10%, with key technical indicators deeply oversold.
A rebound from a 52-week low helped the index break its losing streak and end the week up 0.44 percent.
- Weekly gain
- 0.44 percent
- Week-end level
- Just above 22,500
- Losing streak
- Eight consecutive weeks
- Key support zone
- 22,200-22,000
- Immediate resistance
- 22,750-22,800
Sources
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