business ๐ Nifty below 24k: Selling pressure expected
The Nifty 50 closed lower on Wednesday due to sustained selling pressure throughout the trading session. This occurred in the market with Ponmudi R, CEO of Enrich Money, providing technical analysis for the index. The Nifty has slipped below its 20-day, 50-day, 100-day, and 200-day EMAs, pointing to technical weakness. A break below the crucial 24,000 mark could intensify selling and pull the index towards 23,800. Investors will watch the 24,200โ24,300 zone for potential stabilization.