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Nifty Risks 52-Week Low as No Rally Sustains; Crucial Levels 22,331 & 22,182
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CNBC Awaaz•29-09-2026, 08:36
Nifty Risks 52-Week Low as No Rally Sustains; Crucial Levels 22,331 & 22,182
- •Nifty faces a new 52-week low threat with bears in control and no sustained rallies, despite festive season hopes.
- •Bank Nifty remains strong, well above its 52-week low, offering a glimmer of hope amidst market weakness.
- •US markets closed at day's lows due to high crude, bond yields, and dollar strength, with 10-year yield reaching 5.25%.
- •RBI may hike rates due to deteriorating domestic macro, including drought in Maharashtra, and anticipated Fed rate hikes.
- •Tata Trust proposes merging TESS and TCE into Tata Sons to prevent its listing, aiming to keep it an unlisted private company.
Key Questions Answered
The two most crucial levels for Nifty are 22,331, which is the closing low, and 22,182, which serves as the intraday low.
Tata Trust proposed postponing Tata Sons' listing by merging TESS and TCE into Tata Sons, allowing it to remain an unlisted private company outside the NBFC and CIC category pending board and RBI approval.
The major drivers behind the fall in gold and silver were rising crude oil prices amplifying inflation concerns, an increase in US bond yields, a strengthening dollar, and strong profit booking at higher levels.
