Daily Market Quote 16 September 2026

Authored By Prime Research | Published at: Sep 16, 2026 05:11 PM IST

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After witnessing a deep cut from the highs on Tuesday, Nifty sustained the Tuesday’s lows of on Wednesday and managed to show a modest bounce back of 99 points.

A small positive candle was formed on the daily chart with minor upper and lower shadow. It seems Nifty found minor support around 23100 levels (previous opening upside gap of 8th April and swing lows of early part of June), but the volatility was observed around the supports.

Though, Nifty placed at the important lower supports around 23100-23000 levels, there is no signs of any strong upside recovery from the lows. The bearish pattern like lower tops and bottoms is intact on the daily chart and present bounce back is expected to form another lower top around the hurdle of 23400-23500 levels. However, any slide below 23000 could open another round of sharp weakness.

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