“Vinay Rajani of HDFC Securities notes that Indian equity markets are under pressure with a broader trend tilted towards weakness, as Nifty has corrected significantly from its all-time high. He highlights that pullbacks are failing to sustain above key technical resistance levels, specifically the 50-day EMA around 25,900 and 20-day EMA near 26,000, while 25,473 remains crucial support. Traders should remain cautious and lighten positions at higher levels until these resistance levels are decisively breached for a bullish reversal.”

Vinay Rajani’s track record: 21 graded calls · 95% CI 8–40%