Stories
Nifty 50 Plunges Below 22,700 Amid F&O Expiry Caution; Bank Nifty Support at 54,000
- •Nifty 50 experienced significant selling pressure, falling over 1.5% and breaking below 23,000, signaling caution ahead of the September 29 F&O expiry.
- •The index continues to form lower highs and lower lows, with all key moving averages trending downward, indicating a bearish technical setup.
- •Elevated US 10-year bond yields (5.217%) and Brent crude near $100 a barrel are weighing on market sentiment.
- •A decisive break below 22,700 could push Nifty 50 towards 22,500, while 23,000 is expected to act as strong resistance.
- •Bank Nifty underperformed, falling 1.99% to 54,472, breaching 55,000, with momentum indicators showing strong downside pressure.
Key Questions Answered
The Nifty 50 faced heavy selling after breaking below the psychological support of 23,000, falling over 1.5 percent amid caution ahead of the futures and options expiry. Elevated US 10-year bond yields at around 5.217 percent and Brent crude oil futures near $100 a barrel further dampened market sentiment.
Bank Nifty underperformed frontline indices by plunging 1,109 points, or 1.99 percent, to close at 54,472, its lowest level since June 8, 2026. The index formed a large bearish candle on the daily chart, breaching its crucial support level of 55,000.
Monthly options data indicates that the Nifty 50 is expected to fluctuate between 22,500 and 23,200 in the near term. Maximum Put open interest concentrates at the 22,800 strike followed by 22,500, while the 23,000 strike holds maximum Call open interest.
