Nifty, Bank Nifty Bearish: Key Support Levels Break, Further Declines Expected

• Nifty broke down from a decreasing triangle pattern, closing below its 200-day EMA with weakening momentum indicators and RSI below 30.
• No sectoral indices closed in the green; Nifty Realty and Media were top losers, falling over 2.5%.
• Midcap index mirrored Nifty, closing below its 200-day EMA and an upward-sloping trendline, indicating medium-term damage.
• Smallcap index failed to reclaim its previous support of 16782, closing below 16,400, signaling continued market caution.
• Bank Nifty closed below 58,500 and its 50-day EMA; MACD moved below zero, strengthening the bearish bias.

Why It Matters: Indian equity markets show a strong bearish trend with Nifty and Bank Nifty breaking key support levels.