“Sudeep Shah is bearish on the Nifty in the short term, expecting crucial resistance at 25,400-25,450 and potential downside to 24,800, followed by 24,600. This outlook is driven by the Nifty's 5% correction, failure to sustain higher levels, slipping below its 200-day EMA, and bearish momentum indicators. He notes similar pronounced pain in the broader market, with Nifty Midcap 100 and Smallcap 100 also showing strong bearish momentum, trading below their 200-day EMAs. Additionally, he highlights a bearish short-term trend for Reliance Industries due to technical fatigue, negative RSI divergence, and a 14% correction from its January high.”

Sudeep Shah’s track record: 14 graded calls · 95% CI 16–61%