Benchmarks fall on broader mkt weakness

Nifty index opened on a flattish note and traded within a narrow 100-point band of 26050-26150for most of the session. Buying interest remained limited, and the index struggled to generate decisive momentum on either side through the first half of the day. However, in the last hour, bears turned active as profit booking from higher levels dragged the index below key support of 26050 and pushed it towards the 25950 zone.

- Motilal Oswal Team

With monthly expiry around the corner, the index may continue to witness volatile two-way swings. On the daily chart, Nifty formed a bearish candle and has been forming lower lows for the last three sessions, indicating a temporary cooling-off phase within the broader uptrend. Now it has to cross and hold above 26000 zones for an up move towards 26100 then 26250 zones while a hold below the same could see some weakness towards 25850 then 25750 levels