“Sudeep Shah is bearish on the Nifty in the near term, citing a confirmed neckline breakdown of an Adam and Adam Double Top pattern and the index slipping decisively below its 20-day and 50-day EMAs. He sees immediate support at 25,500-25,450, with a potential sharper decline to 25,200 if 25,450 is breached, while resistance is at 25,900-25,950. Shah also notes broad-based weakness in broader markets, with Nifty Midcap 100 and Smallcap 100 trading below key moving averages, suggesting fading risk appetite and advocating a defensive and selective approach.”

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