As of March 3, 2025, the Indian equity markets have been experiencing significant volatility. The NSE Nifty 50 index has declined approximately 15% from its September 2024 peak, marking its longest losing streak since 1996. This downturn has resulted in a $1 trillion loss in investor wealth.
Nifty 50 Technical Analysis:
- Support Levels: The Nifty 50 is approaching a crucial support zone between 21,800 and 22,000. A decisive break below this range could extend the decline toward the 21,000-21,200 zone.
- Resistance Levels: If the index sustains above 22,200, it could signal a potential reversal, with resistance levels at 22,600 and 22,800.
BSE Sensex Technical Analysis:
- Support Levels: The Sensex is currently holding a lower top formation on daily and intraday charts, indicating weakness. Key support levels are identified at 73,000 and 72,500.
- Resistance Levels: Sustaining above 73,500 could change market sentiment, with potential resistance around 74,500.
Market participants are advised to monitor these support and resistance levels closely, as they could influence trading strategies in the short term. Additionally, global factors such as developments around tariffs, geopolitical risks, and foreign institutional investor (FII) trends are expected to impact domestic indices.
Given the current market conditions, investors should exercise caution and consider consulting financial advisors before making investment decisions.
