Indian Market Plunges, Enters Oversold Zone; Recovery Expected Next Week

• Indian stock market saw a sharp decline for the third consecutive day; Sensex plunged 1470 points to 74563, Nifty fell 488 points to 23151.
• Weak global markets, depreciating rupee, and continuous foreign investor selling fueled the market's downward pressure.
• Experts confirm the market is now technically in an oversold condition, with the Relative Strength Index (RSI) dropping below 30.
• Nifty's crucial resistance is around 24300, while strong support lies between 22700 and 22400; investors advised to monitor these levels.
• Nifty recorded its largest weekly decline since June 2022 (5.3%), and Sensex its worst since May 2020 (5.5%), making the upcoming week critical.