Nifty 50 Downtrend: Trendline Break Signals Caution; Bank Nifty Outperforms

• Nifty 50 extended its downtrend, falling below its support trendline and shedding nearly 200 points from its record high, with momentum indicators signalling caution.
• Key support for Nifty is at 26,100, coinciding with the 10-day EMA; a decisive break below 26,000 could shift momentum to bearish.
• Nifty formed a high-wave/doji-like candlestick, indicating volatility and indecision, while Stochastic RSI turned bearish.
• Bank Nifty outperformed, closing at 60,118 and defending the 60,000 mark, showing bullish momentum with RSI in a crossover mode.
• Options data suggests Nifty will likely trade in the 26,000-26,500 range, with experts advising a buy-on-dips strategy for Bank Nifty above 59,300.

Why It Matters: Nifty shows caution with trendline breakdown; Bank Nifty holds strong, outperforming the market.