Nifty Drops to Five-Month Low as Bears Retain Control Amid Weak Momentum

The Nifty 50 closed 279.50 points lower at 23,118.60 on Tuesday, marking its lowest closing level since April 6, 2026.

The benchmark index has corrected by approximately 6.68 percent, or 1,655 points, from its August 3 high due to rising US yields and crude prices.

Technical indicators show the 14-period daily RSI at 22.23 in oversold territory, with the 23,070 level serving as immediate support.