Nifty Slumps as Breakdown Signals Deeper Correction Ahead
By HDFC SKY | Published at: Feb 27, 2026 06:39 PM IST
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After showing a choppy movement with weak bias over the last few sessions, Nifty witnessed a decisive breakdown on Friday and closed the day lower by 317 points. Nifty slipped into a gradual intraday weakness for better part of Friday before showing intense decline towards the end.
A long bear candle has been formed on the daily chart that indicates a sharp breakdown of descending triangle type pattern. The crucial huge opening upside gap of 3rd Feb has almost been filled around 25100 (left with small margin). This is not a good sign.
The underlying trend of Nifty is sharply down. The overall negative chart pattern signals further downside to 24700 levels in the near term. Immediate resistance is placed at 25400.
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Please Note: The information shared is intended solely for informational purposes and does not make any investment recommendations
