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Nifty Reclaims 22,500: Will This Recovery Sustain or Is It Just a Bounce?
M
Moneycontrol•09-10-2026, 12:12
Nifty Reclaims 22,500: Will This Recovery Sustain or Is It Just a Bounce?
- •Nifty reclaimed the key 22,500 mark driven by IT share buying, value buying, and easing crude oil prices following a sharp selloff in the previous session.
- •Analysts suggest a cautious market structure, advising traders to adopt a sell-on-rise approach as rallies may face selling pressure near resistance levels.
- •Key support zones are identified between 22,100 and 22,200, where a decisive break could trigger further downside toward the 21,750 level.
- •A sustained move above 22,500 could improve market sentiment and spark short-covering, though high volatility is expected to persist.
Key Questions Answered
Nifty reclaimed the 22,500-mark on October 9 due to multiple factors, including buying in IT shares, value buying, and easing crude prices.
Pabitro Mukherjee notes that the 22,180 panic low acts as a support floor for a consolidation range, while yesterday's high of 22,600 serves as immediate resistance.
Analysts view the overall market structure as cautious despite the recovery, suggesting that a sell-on-rise approach remains preferable until the market sustains above key resistance levels.
