Daily Market Quote 29 September 2026

Authored By Prime Research | Published at: Sep 29, 2026 04:06 PM IST

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Sharp follow-through weakness continued in the market on Tuesday and Nifty closed the day lower by 64 points. A small negative candle was formed on the daily chart with long lower shadow. Technically this market action signals recovery in the market from near the supports.

Bearish pattern like lower tops and bottoms is intact as per daily timeframe chart and Nifty is currently in the process of forming a new lower bottom. But still, there is no confirmation of any significant recovery from the lows.

The underlying trend of Nifty remains weak. Any bounce up to 22900- 23000 levels could be short lived and that is expected to be a sell on rise opportunity. Further weakness below 22550 could open more decline down to 22200 levels in the near term.

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