Stock Market Highlights LIVE Updates: Nifty is nearing its previous swing low of 23,800.
The markets stayed under pressure today, dropping over one percent and extending the ongoing correction phase. Although there was an early rise, Nifty experienced sharp fluctuations in the first half, followed by selling pressure in heavyweight stocks that shifted momentum downward. Major sectors, including auto, FMCG, and metals, recorded losses in line with the broader indices, which also fell by nearly 1.5 percent.
Nifty is now approaching its previous swing low around 23,800, with banking heavyweights leading the downturn and dampening recovery prospects once more. Current indicators point to a possible test of the 200-day Exponential Moving Average (DEMA), positioned around 23,540. Investors are advised to adjust their positions accordingly and focus on selective stock choices.
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