CLSA's Balanco Warns Nifty 50 Support Nearly 2,000 Points Lower

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Nifty 50 Faces Steep Drop: CLSA Warns Next Support 2,000 Points Away

Although volatile, the Nifty 50 index has not declined as much as feared, despite the five IT stocks listed on the index wiping out over ₹1.5 lakh crore in value in just the first few minutes of the trading sessions. The losses in IT stocks are being offset by other index heavyweights. Here's a list of the stocks aiding the recovery in the Nifty.

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CNBC TV18•13-03-2026, 08:07

Nifty 50 Faces Steep Drop: CLSA Warns Next Support 2,000 Points Away

•CLSA chartist Laurence Balanco warns Nifty 50's next chart support is nearly 2,000 points away, at 21,777 - 21,800 levels.
•The Nifty 50 index has entered a "technical correction," dropping 10% from its record high of 26,374 on January 5.
•The index has broken below key support zones of 24,300-24,500 and 23,700-23,800.
•The 24,300-24,500 zone, which previously acted as support, will now serve as a resistance level.
•Since January 5, 37 Nifty 50 stocks have delivered negative returns, with over 20 stocks down 10% or more.

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Although volatile, the Nifty 50 index has not declined as much as feared, despite the five IT stocks listed on the index wiping out over ₹1.5 lakh crore in value in just the first few minutes of the trading sessions. The losses in IT stocks are being offset by other index heavyweights. Here's a list of the stocks aiding the recovery in the Nifty.

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