Indian equity markets remained under pressure on Wednesday, September 9, extending their recent corrective phase amid escalating geopolitical tensions. The NSE Nifty 50 declined 0.86% to close at 23,431.50, while the BSE Sensex fell 1.08% to 74,764.2.
On the technical front, the Nifty50 slipped below its previous swing low on the daily chart, while the RSI moved into the oversold zone. According to Rupak De, Senior Technical Analyst at LKP Securities, the trend remains weak. A hold above 23,500 on Thursday could lead to a meaningful recovery, while a break below 23,400 could trigger further correction.
