Daily Market Quote: 09 September 2026

Authored By Prime Research | Published at: Sep 9, 2026 04:35 PM IST

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The market continued to shatter on Wednesday and Nifty closed the day with sharp cut of 203 points. A long bear candle was formed on the daily chart with gap down opening and the opening downside gap remains intact.

The market action indicates sharp downside momentum unfolding in Nifty. On the other side, the broad market indices like midcap, small cap and microcap sectors have outperformed the benchmark with lesser declines and overall bullish chart patterns.

The immediate support of 23600 (previous opening upside gap of 15^th June) has been broken down decisively and Nifty closed lower. The overall chart pattern of Nifty remains bearish and there is a possibility of more weakness in the near term. The next downside levels to be watched around 23070 (previous swing low of 8^th June). However, any pullback rally could find strong resistance around 23625 levels.

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