Key Levels For The Nifty 50 (23,898)
Resistance based on pivot points: 23,975, 24,001, and 24,043
Support based on pivot points: 23,891, 23,865, and 23,823
Special Formation: The Nifty 50 formed a small-bodied bearish candle with a long upper shadow within the previous day’s trading range on the daily charts, indicating selling pressure at higher levels amid range-bound trading. The index remains below all key moving averages, while the short- and medium-term moving averages continue to slope downward. The RSI edged up slightly but remained well below its signal line at 38.37.Meanwhile, the MACD remained below both the zero line and the signal line, although the red histogram bar faded after expanding for four consecutive days. All these technical indicators suggest that the overall market bias remains cautious to bearish.
September 7, 2026 34
