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Nifty Outlook: Market recovers after 8 weeks, will it fall further or reach 23000?
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CNBC Awaaz•11-10-2026, 10:53
Nifty Outlook: Market recovers after 8 weeks, will it fall further or reach 23000?
- •Nifty recovered about 100 points last week after eight consecutive weeks of decline, but weakness still persists in the market.
- •Key levels to watch include support at 22,400 and 22,500, with a drop below 22,181 risking a fall toward 22,000.
- •Investors will closely monitor retail and wholesale inflation data, along with Q2 results from over 70 major companies like HDFC Bank and Wipro.
- •Bank Nifty closed above 55,000, showing resilience following RBI policy shifts and interest rate adjustments.
- •Global cues including crude oil prices, US inflation, and bond yields will also dictate market momentum in the coming week.
Key Questions Answered
Investors are closely watching the 22,400 and 22,500 levels, alongside last week's low of 22,181. Sustaining above 22,500 could allow Nifty to advance toward 22,700 and 22,800, while dropping below 22,181 risks driving the index down to 22,000.
The market will focus on retail and wholesale inflation data, which offer hints on RBI policy, alongside September quarter results from over 70 companies including HDFC Bank, Axis Bank, Wipro, and HCLTech.
The RBI announced that the minimum daily maintenance of the Cash Reserve Ratio (CRR) for banks will increase from 90% to 99% starting with the fortnight of October 16.
