Nifty dips 9th day, breaks below key support at 24,600 level - Religare Broking Ltd
Market Outlook
The Nifty 50 closed at 24,611, extending its losing streak for the ninth consecutive session with a breakdown below the immediate support zone of 24,600. On the daily chart, the index continues to display some resilience near this level; however, it remains under pressure as it trades consistently below the key long-term 100-day EMA, indicating sustained selling pressure from the 24,800 zone. On the derivatives front, a significant Call OI build-up at 24,700 for the upcoming October weekly expiry reflects persistent downward pressure in the near term.
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