4 Consecutive Down Weeks !

Markets Overview

The last two sessions for Nifty have been quite disappointing, with the index experiencing a sharp decline of over 400 points. From its recent peak, Nifty has corrected by nearly 800 points, dragging it back into the congestion zone that existed between mid-May and mid-June. Market participants are hoping that the index doesn’t break below the lows of that previously established range. Notably, this marks the fourth consecutive week of decline for Nifty, which is typically the limit for a one-sided move. After such a stretch, a bounce or reversal leg is often seen.

Latest Daily Byte

The markets now appear to be finally accepting the need for a new level of equilibrium going forward. After hovering around the average for the past 7–8 sessions, today’s move clearly broke away from that range.

The index has slipped below the 24,900 mark, which was the recent bottom made four sessions ago. With this breakdown, the earlier consolidation zone between 24,400 and 25,200 has once again come into play, suggesting that markets may spend some more time within this broader range before a clear direction emerges.

Rebalance Update for the week