NIFTY Index Chart Analysis
Peak to Plunge: Dissecting Nifty50's Dramatic Market Shift
Fear has engulfed the domestic equity market. Aggressive Foreign Institutional selling, coupled with disappointing earnings, has undermined positive sentiment. After reaching a new lifetime high, the indices have plummeted below key support levels. The NSE benchmark index, Nifty50, has formed a significant bearish candle on both weekly and daily charts, marking its highest weekly volume since the last week of May 2023. This decline, accompanied by higher volume, is indicative of distribution, further evidenced by institutional selling.