NIFTY Index Chart Analysis

Nifty’s Eight-Week Rally Ends Amid Global Market Turmoil

After an uninterrupted eightweek rally, the Nifty index finally faced a significant downturn, influenced heavily by global market conditions. On Friday, the index fell by 1.17 per cent, starting with a substantial gap down at the opening, and the decline persisted over the next two trading sessions. This sell-off was largely driven by fears of a US recession and concerns over the unwinding of the Yen carry trade.