Nifty 50 – Sharp Reversal from 24,388: What Really Happened Yesterday
Yesterday was a rollercoaster for the Nifty 50.
The day started on a sour note after news broke that the U.S. had slapped another 25% tariff on Indian exports, effectively doubling the total to 50%. The sentiment hit the floor right at the open, and we saw the index tumble to 24,388, marking a fresh three-month low.
But just when it looked like the selling would spiral, the market staged a dramatic turnaround. Strong buying — especially in the derivatives segment — kicked in during the second half. By the closing bell, Nifty had clawed its way back into the green, ending around 24,596. It wasn’t just a bounce; it felt like the bulls wanted to send a message: we’re still here.
Key Levels in Play
That 24,388 mark isn’t random. It lined up perfectly with a key support zone on the charts — one that also overlapped with short-term fair value gaps and EMA zones on the 15-minute chart. In other words, it was a prime area for a potential reaction.
Once the index got back above 24,450, buyers clearly had the upper hand. Now, 24,800 is the next hurdle. A strong break and hold above that could open the door for a test of 25,000. On the flip side, if we slip back under 24,450, we could be right back under pressure, staring at the 24,300–24,400 range again.
The Bigger Picture
Foreign flows: Global sentiment took a hit — foreign investors sold over ₹49,000 crore worth of equities yesterday, adding to the nervousness.
Sector moves: IT and pharma were the big drags early on, erasing some of their recent gains.
Domestic support: Local investors kept the faith, pumping in over ₹1 lakh crore — the strongest domestic inflows in four months — which likely helped cushion the fall.
Takeaway
Yesterday’s reversal wasn’t luck. It was a combination of technical support holding, aggressive short-covering, and steady domestic buying stepping in when the global mood was sour.
Yesterday was a rollercoaster for the Nifty 50.
The day started on a sour note after news broke that the U.S. had slapped another 25% tariff on Indian exports, effectively doubling the total to 50%. The sentiment hit the floor right at the open, and we saw the index tumble to 24,388, marking a fresh three-month low.
But just when it looked like the selling would spiral, the market staged a dramatic turnaround. Strong buying — especially in the derivatives segment — kicked in during the second half. By the closing bell, Nifty had clawed its way back into the green, ending around 24,596. It wasn’t just a bounce; it felt like the bulls wanted to send a message: we’re still here.
Key Levels in Play
That 24,388 mark isn’t random. It lined up perfectly with a key support zone on the charts — one that also overlapped with short-term fair value gaps and EMA zones on the 15-minute chart. In other words, it was a prime area for a potential reaction.
Once the index got back above 24,450, buyers clearly had the upper hand. Now, 24,800 is the next hurdle. A strong break and hold above that could open the door for a test of 25,000. On the flip side, if we slip back under 24,450, we could be right back under pressure, staring at the 24,300–24,400 range again.
The Bigger Picture
Foreign flows: Global sentiment took a hit — foreign investors sold over ₹49,000 crore worth of equities yesterday, adding to the nervousness.
Sector moves: IT and pharma were the big drags early on, erasing some of their recent gains.
Domestic support: Local investors kept the faith, pumping in over ₹1 lakh crore — the strongest domestic inflows in four months — which likely helped cushion the fall.
Takeaway
Yesterday’s reversal wasn’t luck. It was a combination of technical support holding, aggressive short-covering, and steady domestic buying stepping in when the global mood was sour.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.