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Nifty Snaps Record Losing Streak: Key Trading Levels to Watch Next Week
M
Moneycontrol•09-10-2026, 17:42
Nifty Snaps Record Losing Streak: Key Trading Levels to Watch Next Week
- •Sensex and Nifty rebounded sharply on Friday, snapping an unprecedented eight-week losing streak driven by strong gains in IT and financial stocks.
- •Tata Consultancy Services reported strong quarterly earnings highlighting AI revenue growth and international expansion, boosting market sentiment.
- •Analysts note that Nifty formed a Doji candlestick pattern on the weekly chart, signaling current indecision between buyers and sellers.
- •Key technical levels indicate Nifty needs to sustain above 22,600 to target 22,800, while failing to hold 22,400 could risk a drop to 22,000.
Key Questions Answered
The Sensex and Nifty rebounded led by information technology stocks after Tata Consultancy Services (TCS) reported quarterly earnings that highlighted strong international growth and rising revenue contributions from artificial intelligence.
Analysts note that the Nifty needs to sustain above 22,600 to extend its rebound toward 22,800, while failure to hold 22,400 could risk a decline to 22,000. Additionally, the 200-week EMA near 22,382 acts as an important technical support level.
Financial stocks gained 1.7 percent for the week, supported by strong quarterly business updates and the absence of liquidity withdrawal measures by the RBI following its rate hike, while IT stocks rose 1 percent.
