The market witnessed a heavy gap-down opening on Monday, followed by continuous selling pressure throughout the session. This clearly reflects weak sentiment and strong dominance of sellers in the current market environment.
Despite minor pullbacks from lower levels, there was no strong follow-through buying, indicating that the overall structure remains bearish with high volatility. The market is currently reacting sharply to global cues and news-based triggers, keeping traders cautious.
Nifty View
Nifty is trading near important support zones after the sharp decline.
Support: 22,300 – 22,250
Next Support: 22,100
Resistance: 22,500 – 22,600
A move above resistance is required for any short-term recovery.
Failure to hold support may extend the downside further.
Bank Nifty View
Bank Nifty also showed strong selling pressure with a clear downtrend structure.
Support: 50,200 – 50,000
Next Support: 49,800
Resistance: 50,600 – 50,900
Sustaining above resistance can lead to a relief bounce.
Otherwise, selling pressure may continue on higher levels.
Conclusion
The market is currently in a high volatility and bearish phase, with sellers in control. Until strong buying is visible, rallies are likely to be sold into.
Traders should avoid aggressive positions and focus on confirmation-based trades with strict risk management.
Key Takeaway:
Gap-down and continued selling indicate weak sentiment — wait for stability before expecting any strong recovery.