The Nifty 50 fell 1.64% on October 8 to an 18-month closing low, weighed down by elevated oil prices, a weakening rupee, and persistent FII outflows. Momentum indicators are deeply bearish, with RSI at 27.55. A decisive break below Thursday's low of 22,180 could see bears target 22,000, then 21,700, while 22,400 is immediate resistance.
Nifty 50 Plunges 1.64% to 18-Month Low, Bears Target 22,000
Source: Moneycontrol