Nifty Breaks Below 4-Month Support as Bearish Momentum Intensifies

The Nifty index suffered a sharp breakdown, opening with a gap down and closing below the four-month-long horizontal support zone at 23,070.

The 14-period daily RSI dropped near 31 into a super bearish range, while the MACD histogram expanded on the downside to reflect mounting selling pressure.

A sustained drop below the crucial 23,000 mark could extend the index decline toward the next support level at 22,719.