Nifty 50 Closes September on Weak Note as Oversold Indicators Raise Pullback Hopes

The Indian equity market concluded September with a third consecutive session of decline, with the Nifty 50 falling nearly 6% over the month.

Technical indicators show the index entering an oversold zone, with the Relative Strength Index at 25.27 and prices near the 200-week moving average support.

Analysts note that immediate support rests between 22,500 and 22,600, while a sustained move above 22,809 is required to signal a counter-trend rally.