BUSINESSNDTV Profit · 4 hours agoLive
Trade Setup For Oct. 26: Nifty Support Slips To 22,500 As Brent Crude Spike Prevents Upside — Key Levels
Reported by NDTV Profit, not nibnow. We are not the publisher of this story, only the source is.
WHY IT MATTERS
Analysts say the Nifty index is losing momentum, and a breach of key support could signal further weakness that may affect investors and traders.
WHAT HAPPENED
Nifty continues to trade comfortably below its crucial moving averages. The daily RSI is also declining and approaching the key 40 mark, which could further weaken the momentum if breached, according to analysts. With the benchmark index showing signs of renewed weakness, all eyes are now on the crucial support levels that could determine the extent of the next move.
WHAT TO WATCH
- •Monitor whether the Nifty holds above the identified support levels around 22,500
- •Watch the daily RSI to see if it falls below the 40 threshold
- •Observe any subsequent price action that confirms renewed weakness or a bounce back
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