Nifty slips into red: Benchmark turns negative, last down 0.03%

Intraday market overview

Nifty 50 (.NSEI) flipped into the red, last down 0.03%, reflecting subdued participation and profit-taking ahead of earnings and holidays. Recent sessions have seen the index consolidate below record highs even as the long-term rising channel holds, with breadth mixed and heavyweight stocks exerting pressure.

Key highlights

Index print: Nifty near 26,100 zone, last down 0.03%, signaling cautious intraday tone.
Recent close context: Nifty previously closed at 26,042, off 0.38%, with Sensex down 0.43% on continued selling.

Levels to watch:

• Support: 26,120–26,100 cluster that traders are tracking for stability.
• Resistance: 26,240; a sustained break could invite momentum.
• Drivers: Year-end thin volumes, selective profit booking, and mixed global cues kept risk appetite tempered.
• Heavyweights’ impact: Pressure from large caps has capped upside even as the broader trend channel remains constructive.
• Short-term bias is neutral-to-cautious; a decisive move above resistance may revive momentum, while a slip below support could extend consolidation.

Sources: Livemint; 5paisa; The Hindu BusinessLine; The Times of India.