{
  "id": 10013528,
  "title": "Index Outlook: Some more downside",
  "url": "https://urgent.news/2026/09/26/index-outlook-some-more-downside",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-26T16:04:00.000Z",
  "source": {
    "name": "Hindu BusinessLine",
    "slug": "hindu-businessline",
    "url": "https://www.thehindubusinessline.com/portfolio/technical-analysis/index-outlook-some-more-downside/article71512129.ece"
  },
  "original_language": "en",
  "account": "Last week, the Nifty 50, Sensex, and Nifty Bank index continued their downward trend, as predicted. The Sensex and Nifty declined by 0.54% and 0.88%, respectively, while the Nifty Bank index fell by 1.38%. The current charts indicate a weak market situation, suggesting that the benchmark indices may fall further from their present levels. However, key support levels are emerging, which could potentially halt the ongoing decline.\n\nFor the short-term, the Nifty and Sensex are expected to stay above the upcoming support, potentially reversing higher in the future. Foreign Portfolio Investors (FPIs) have stopped their three-week selling spree, with the equity segment witnessing a net inflow of around $402 million. To push the benchmark indices higher, FPIs need to increase their buying pace. In the short term, the downtrend is intact, with resistance at 23,250-23,300 acting as a ceiling. A break above 23,300 is required to trigger a rise towards 23,600-23,700. However, this rise is less likely at the moment. Nifty is vulnerable to break below 23,000 and fall to 22,600-22,500. A bounce from this support zone could take the index back up to 23,000 and beyond.\n\nIn the medium-term, Nifty is moving towards the lower end of its 22,000-26,500 range. If Nifty fails to bounce from around 22,500, a further decline to 22,000 is possible. Currently, the outlook remains positive, with a positive bias for Nifty to bounce back between 22,500-22,000. This rise will maintain the sideways range and potentially push Nifty up to 25,000-26,000 in the medium term, leading to a long-term bullish outlook with a breakout above 26,500 and a rise to 28,000 and 30,000. For the Nifty Bank index, a decisive break below 22,000 is necessary to invalidate the bullish view, which could lead to a fall to 21,700 and 21,200 initially.\n\nThe Nifty Bank index has short-term support at 55,175. If the index sustains above this level, a corrective rise to 56,500-57,000 is possible. However, the broader trend will remain downward. A reversal and a subsequent break below 55,175 could push the Nifty Bank index downwards to 54,000. A strong bounce from around 54,000 could again take the index to 56,000. Conversely, a break below 54,000 could increase the risk of seeing 52,000 or even 51,000 on the downside. For now, expect a fall to 54,000 and monitor the price action closely to determine if a bounce is occurring or not.\n\nMedium-term, 51,000 is a strong support level that can limit the downside if the index declines below 54,000. A fresh rally from around 51,000 could take the Nifty Bank index to 58,000-60,000 in the medium term. As long as the index stays above 51,000, the long-term bullish view remains intact. A break above 60,000 could clear the path for a rally to 65,000 and then 68,000-69,000 in the long term. A break below 51,000 would negate the bullish outlook, potentially dragging the Nifty Bank index down to 49,000 and even lower.",
  "summary": "Crucial supports are coming up which can halt the fall and trigger a reversal",
  "key_points": [
    "Sensex and Nifty declined by 0.54% and 0.88% respectively",
    "Nifty Bank index fell by 1.38%, showing weak market situation",
    "Foreign Portfolio Investors stopped selling spree, equity witnessed $402M inflow"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}