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Stock Market Rally Ends? Nifty's Technical Signals and FII Selling Raise Concerns
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CNBC Awaaz•23-09-2026, 08:55
Stock Market Rally Ends? Nifty's Technical Signals and FII Selling Raise Concerns
- •The Nifty's recent rally to 23,900 is considered a counter-trend rally, with today's closing crucial to confirm if the decline has resumed.
- •Nifty formed an 'Outside Day' yesterday, breaking Monday's low after a Higher High; a Lower High and Lower Low today would be a significant negative.
- •A break below 23,116 could resume the larger downtrend, while closing above 23,500 is necessary for an uptrend.
- •FIIs showed significant selling yesterday, with cash selling at a 15-day high of –’3,810 crore and net shorts at their highest since January 2025.
- •Key strategies for Nifty include shorting if yesterday's low is broken (SL: day's high) or going long if 23,200-23,250 is protected (SL: 23,150).
Key Questions Answered
Technically, Nifty formed an Outside Day after breaking Monday's low following a Higher High, and a larger downtrend could resume if the 23,116 level is broken. Closing above 23,500 is necessary to confirm an uptrend.
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