Market Alert: Nifty 26100, Bank Nifty 59800 Crucial Support; Deeper Fall Looms

• Selling pressure increased, Nifty slipped below 26100 and Bank Nifty fell over 300 points.
• Large-cap stocks like HDFC BANK, MARUTI, M&M, Bharti, ITC, RIL, Cipla faced significant selling pressure.
• Midcap, smallcap, and IT stocks showed resilience; Nifty IT index rose over 1.5%, with Tata Elxsi, KPIT, Tata Tech surging on JP Morgan's bullish report.
• CNBC-Awaaz's Anuj Singhal stressed Nifty must hold 26100 and Bank Nifty 59800 to prevent a deeper correction.
• Market outlook turns negative if these key levels are breached, despite some recovery seen in Nifty and Bank Nifty towards closing.

Why It Matters: Nifty and Bank Nifty face critical support levels; failure to hold could lead to a deeper market correction.