Nifty Crashes 394 Points as Downtrend Strengthens

Authored By HDFC SKY | Last Modified: 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 9^th 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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The information shared here is intended solely for informational and educational purposes and does not constitute investment recommendations. While we practice strict due diligence in curating daily market data, readers must perform independent research before trading. To flag any real-time data discrepancies or content concerns, please write to us at content@hdfcsec.com.

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