Nifty 50, Nifty Auto Signal Downside; Sudeep Shah Recommends Ipca Labs, IDFC First Bank

• Sudeep Shah of SBI Securities warns of further downside for Nifty 50 due to meaningful technical damage and a clear contraction in risk appetite.
• Nifty 50 experienced its sharpest weekly drop since September 2025, confirming a breakdown below an Adam & Adam Double Top formation neckline.
• Bank Nifty shows early warning signs with a Dark Cloud Cover pattern, and a decisive break below 58,600 could lead to further retracement.
• Shah recommends Ipca Laboratories for accumulation, citing a horizontal trendline resistance breakout and strong buying interest.
• IDFC First Bank is also recommended, showing potential for an upside breakout after consolidating above its 20-day EMA.

Why It Matters: Market faces downside risks, but Sudeep Shah identifies Ipca Labs and IDFC First Bank as strong buys.