Business · Markets · 2 hrs ago
Nifty rebounds after eight-week losing streak, but reversal remains uncertain
India’s Nifty stock index rebounded after falling for eight consecutive weeks.
The rise has encouraged hopes of a recovery, but analysts disagree on whether the downturn has ended.
Several say the index needs to close above about 22,550–22,650 to strengthen the case for a reversal.
One analyst sees possible gains towards 23,200 if the index breaks above 22,630.
Others warn that a drop below support levels around 22,100–22,295 could lead to further declines.
The advice from one analyst is to buy on dips rather than sell into a rise, while another describes the rebound as a relief rally, not a confirmed change in direction.
The next moves around these resistance and support levels will help show whether the recovery can last.
The Nifty rebounded after eight consecutive weekly declines, but analysts said a sustained move above key resistance levels is needed to confirm a reversal.
The index’s positive weekly close followed its longest losing streak in eight weeks.
Analysts identified resistance around 22,550–22,650, with some seeing further gains if the index breaks above that range.
They also warned that a fall below support levels could lead to further declines.
- Who
- The Nifty and market analysts quoted by the Economic Times.
- What
- The Nifty rebounded after eight weekly declines, but the outlook for a sustained reversal remains uncertain.
- When
- Friday; the article was published on 2026-10-12.
- Where
- Not stated.
- Why
- The rebound followed eight consecutive weekly declines; analysts said a sustained move above resistance would strengthen the recovery outlook.
Analysts expecting a potential upswing
Analysts cautioning that the rebound is not a confirmed reversal
Outlook
Analysts expecting a potential upswing
Anand James said a break above 22,630 could confirm an upswing, with potential gains towards 23,200.
Analysts cautioning that the rebound is not a confirmed reversal
Rupak De called Friday’s rebound a relief rally, not a confirmed reversal, and said resistance lay at 22,600–22,650.
Confirmation level
Analysts expecting a potential upswing
Rahul Sharma said a sustained close above 22,550 was needed to confirm a short-term reversal.
Analysts cautioning that the rebound is not a confirmed reversal
Rupak De said a break below 22,100 risked a deeper fall towards 20,800–20,200.
Friday’s rebound was a relief rally, not a confirmed reversal
buy on dips rather than sell on a rise
The Nifty had recorded eight straight weekly declines.
The Nifty rebounded and posted a positive weekly close.
- Losing streak
- Eight consecutive weekly declines
- Resistance range
- 22,550–22,650
- Potential upside target
- 23,200
- Friday’s close
- 22,295 mentioned as a level by Anand James
Sources
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