Nifty Faces Further Decline, Silver ETFs Risky: SBI Securities Expert

• Nifty is expected to decline further, with immediate support at 24,800 and major support at 24,600.
• The index has fallen over 5% in 11 sessions, trading below its 200-day EMA and 9-week average.
• Momentum indicators for Nifty and Bank Nifty are weak, with RSI at lowest levels since April/September 2025.
• Bank Nifty shows weakening momentum, falling below its 50-day EMA for the first time since October 2025.
• Sudeep Shah advises against new long positions in Silver ETFs due to overbought conditions and unfavorable risk-reward.

Why It Matters: Nifty and Bank Nifty show sustained downward momentum; avoid Silver ETFs due to overbought conditions.