Equities decline amid profit-booking

Motilal Oswal Team

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The Nifty 50 erased the gains of the past two sessions and fell nearly 1 percent on December 8, closing below the key 26,000 mark. If it stays under this level—which aligns with the 20-day DMA and the Bollinger mid-line—the index could fall to 25,892 (Mondays low) and then 25,840 (November 26 low). A firm breakdown may strengthen the bears, while 26,100—26,200 remains the main resistance zone.

Nifty opened weak and stayed under pressure through the session, hitting 25,892 before ending at 25,961, down 226 points (0.86 percent), with higher-than-average volumes. It formed a long bearish candle with a small lower shadow, showing weakness despite some buying at lower levels.