Benchmark indices ended on a negative note on Friday amid heightened volatility. Nifty in a weekly chart formed a bearish candlestick pattern with a lower high and a lower low and a long lower shadow. Going ahead, analysts say a failure to move above the breakdown area of 23,800-24,000, will keep the bias corrective and can lead to testing of the support area of 23,200-23,000. While a move above the breakdown area will signal pause in the downtrend and open pullback towards 24,500-24,600 levels being the high of April 2026.
STATE OF THE MARKETS
