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Nifty

Broader markets underperformed last week as persistent FII selling, geopolitical uncertainty and Brent crude near $114 per barrel kept sentiment fragile. On the daily chart, Nifty formed a ‘Doji’ on Thursday, followed by a Hammer on Friday, highlighting indecision around the 20 DEMA zone near 22840. However, these reversal patterns require follow-through confirmation to establish a durable recovery. The immediate focus is whether Nifty can defend Friday’s low of 22372. A sustained breakdown could expose 22180, followed by the psychological support at 22000. On the upside, 22800–22865 remains the crucial recovery hurdle; until reclaimed, rallies may attract selling. Fresh longs should be considered only after a sustained move above 22865, supported by improving market breadth and momentum. Traders should prioritise capital preservation, maintain disciplined stop-losses and deploy fresh capital selectively. A potential panic bottom must be confirmed by price action before increasing exposure.

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