Sudeep Shah Warns of Deeper Nifty Correction After 61.8% Fibonacci Break; Recommends Two Stocks

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Nifty's Deep Correction Risk: Sudeep Shah Flags Fibonacci Break, Suggests 2 Stocks

Sudeep Shah is the Head - Technical and Derivatives Research at SBI Securities

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Moneycontrol•15-03-2026, 07:08

Nifty's Deep Correction Risk: Sudeep Shah Flags Fibonacci Break, Suggests 2 Stocks

•SBI Securities' Sudeep Shah warns of deeper Nifty correction after breaking 61.8% Fibonacci level.
•Nifty's weekly RSI at 30.43, its lowest since the COVID-19 market crash, confirming bearish bias.
•Immediate Nifty support at 22,850–22,800; a break below 22,800 could lead to 22,500.
•Market fall driven by geopolitical tensions, crude oil volatility, and a clear technical downtrend.
•Shah recommends buying Aurobindo Pharma and Coal India for next week, citing horizontal trendline breaks.

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