Investors turn risk-averse, outlook bearish

The Nifty 50 extended its losing streak for the fourth straight session, staying below the 10-day EMA while managing to hold the 20-day EMA (25,970) and the Bollinger midline (25,940), aided by a late-session rebound on December 3. A decisive breach of these supports could strengthen bearish momentum and drag the index toward 25,840—the low of Wednesday's long candle—with a deeper decline toward the 50-day EMA possible thereafter. On the upside, resistance is expected near 26,155, followed by 26,300.

- Motilal Oswal Team

Throughout the day, the index traded weak and slipped below the key 26,000 mark, ending at 25,986, down 46 points. It formed a bearish candle resembling a Doji with shadows on both sides, reflecting market indecision. Momentum indicators also remained soft: RSI slipped to 53.56, while the MACD stayed in a bearish crossover, with a slightly widening negative histogram.