Adani Enterp. 2451.15↑22.00(0.91%)
Adani Ports 734.95↓-1.45(-0.20%)
Apollo Hospitals 4926.70↓0.05(0.00%)
Asian Paints 3180.55↓-31.70(-0.99%)
Axis Bank 974.75↑12.65(1.31%)
B P C L 359.45↓-1.65(-0.46%)
Bajaj Auto 4743.40↓-57.25(-1.19%)
Bajaj Finance 7037.15↑27.05(0.39%)
Bajaj Finserv 1466.50↓-0.90(-0.06%)
Bharti Airtel 833.50↓-2.50(-0.30%)
Britannia Inds. 4878.75↑3.70(0.08%)
Cipla 969.25↑3.85(0.40%)
Coal India 227.65↓-0.45(-0.20%)
Divi's Lab. 3428.75↓-70.95(-2.03%)
Dr Reddy's Labs 4666.80↑17.40(0.37%)
Eicher Motors 3581.30↓-76.10(-2.08%)
Grasim Inds 1715.75↑3.80(0.22%)
H D F C 2652.90↓-0.90(-0.03%)
HCL Technologies 1109.75↓-17.00(-1.51%)
HDFC Bank 1610.60↑1.90(0.12%)
HDFC Life Insur. 581.70↓-12.20(-2.05%)
Hero Motocorp 2899.30↓-65.50(-2.21%)
Hind. Unilever 2636.20↓-43.70(-1.63%)
Hindalco Inds. 415.05↓-3.20(-0.77%)
ICICI Bank 938.05↑0.15(0.02%)
IndusInd Bank 1331.05↑27.20(2.09%)
Infosys 1265.95↓-16.85(-1.31%)
ITC 438.45↓-4.45(-1.00%)
JSW Steel 748.50↓-0.30(-0.04%)
Kotak Mah. Bank 1872.00↓-14.50(-0.77%)
Larsen & Toubro 2363.00↑22.70(0.97%)
M & M 1370.65↓-10.40(-0.75%)
Maruti Suzuki 9627.80↓-30.80(-0.32%)
Nestle India 22073.45↓-75.45(-0.34%)
NTPC 182.80↑0.75(0.41%)
O N G C 154.25↓-1.85(-1.19%)
Power Grid Corpn 244.90↑3.25(1.34%)
Reliance Industr 2481.95↓-17.70(-0.71%)
SBI Life Insuran 1232.40↓-6.50(-0.52%)
St Bk of India 578.70↓-9.80(-1.67%)
Sun Pharma.Inds. 983.95↓-3.05(-0.31%)
Tata Consumer 801.00↓-6.10(-0.76%)
Tata Motors 562.30↑2.60(0.46%)
Tata Steel 108.90↓-2.25(-2.02%)
TCS 3209.30↓-27.15(-0.84%)
Tech Mahindra 1063.05↓-8.25(-0.77%)
Titan Company 2876.25↓-0.75(-0.03%)
UltraTech Cem. 8153.25↑53.10(0.66%)
UPL 680.25↓-9.80(-1.42%)
Wipro 397.30↓-2.25(-0.56%)

Nifty can tumble over 15% from here on if it breaks 17,300, charts suggest

In the interim, the 200-WMA at 16,975 could be another key level to watch out for, as the Nifty had bounced back from there during the correction in the first half of 2022.

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2 min read Last Updated : Feb 23 2023 | 9:30 AM IST

The NSE Nifty 50 has declined close to 6.5 per cent to 17,500 levels in the last three months so far amid concerns that a prolonged period of higher interest regime could stifle global economic growth and eventually hit corporate earnings.

Off late, global bankers have stressed on the need for higher rates than earlier projected in the backdrop of stubborn inflation.

Technically, the Nifty has been trending with a negative bias since the start of 2023, after the short-term (20-DMA) Daily Moving Average dipped below the 50-DMA. To make the case further stronger for the bears, the 20- and the 50-DMA, both, are now down below the 100-DMA following the sharp fall on Wednesday, February 22.