Nifty Crashes 394 Points as Downtrend Strengthens
By HDFC SKY | Updated at: Mar 11, 2026 05:22 PM IST
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After showing couple of sessions sustainable bounce from the lows recently, Nifty witnessed a steep fall on Wednesday and closed the day lower by 394 points. After opening on a flat note, the market continued to slide down which lasted for the whole session. Minor intraday recoveries in between have been used to sell on the rise.
A long bear candle was formed on the daily chart which indicates sharp reversal of Nifty on the downside, after forming a new lower top around 24300 levels on Tuesday. The opening downside gap of 9th March remained partially filled. This is not a good sign.
The near-term trend of Nifty seems to have reversed down after a reasonable bounce back. As per the negative chart pattern like lower tops and bottoms, Nifty is expected to slide below the recent swing low of 23697 in the short term. Immediate resistance is placed at 24050 levels.
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Please Note: The information shared is intended solely for informational purposes and does not make any investment recommendations
