Daily Market Quote: 24 September 2026

Authored By Prime Research | Published at: Sep 24, 2026 03:56 PM IST

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After showing a minor bounce on Wednesday, Nifty witnessed deep cut on Thursday on the back of consultation paper by IRDAI and weak global cues. A long bear candle was formed on the daily chart with gap down opening. The recent swing high of 23489 seems to be a new lower top and the Nifty is now sliding down towards the formation of new lower bottom.

The crucial support of around 23100 levels (previous opening upside gap of 8^th April and swing low of early June) has been tested again on Thursday and no significant recovery was made from the support. Hence, the market is now placed on the verge of breakdown.

The short-term trend of Nifty has turned down sharply. A decisive breakdown of 23000 is likely to drag Nifty down to 22600 in a quick period. Any bounce back from here could find strong resistance around 23300 levels.

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