What is the story about?
Indian equity markets remain under pressure as benchmark indices trade below key technical levels, raising concerns about further downside in the near term.
According to Manish Hathiramani of Deen Dayal Investments, the Nifty has entered a short-term bearish phase after failing to hold important support levels. He pointed out that the index has already broken below recent lows and the 200-day moving average, increasing the risk of further correction if it does not reclaim the 25,000 mark decisively.
The Sensex index is down over 300 points, falling below the 82,000 mark. Bank Nifty, which had earlier supported the broader market, has also weakened after breaking key supports, adding to near-term uncertainty.
Hathiramani believes the zone between 24,950 and 25,000 is critical for the index. Sustained trading below this range could open the door for a deeper fall towards the 24,500 level.
He added, “The upside resistances are now capped at 25,600 to 25,700 levels.”
Summing up his cautious stance, Hathiramani said, “We are in a definite short-term bear market. I would be looking at any kind of rise to look for opportunities to go short, unless we are able to get past those capped resistance levels.”
On the fundamental side, Gautam Baid, Equity Advisor, Complete Circle Stellar Wealth PMS believes the correction is creating opportunities, but only for investors who are highly selective.
“This is the market for bottom-up active stock picking, and you have to focus on areas which have got good earnings growth visibility for the next one to two years,” he added.
Baid highlighted that certain segments are already showing signs of earnings resilience despite the broader market weakness. These include microfinance-focused lenders, gold financing companies, silver-related plays, and parts of the auto ancillary space, where recent results point to improving fundamentals.
He also noted that market breadth indicators suggest the broader market may be approaching a zone where corrections historically tend to stabilise, though the recovery is unlikely to be uniform.
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Catch all the latest updates from the stock market here
Also, catch the latest Budget 2026 expectations updates here
Catch all the latest updates from the Q3 earnings here
According to Manish Hathiramani of Deen Dayal Investments, the Nifty has entered a short-term bearish phase after failing to hold important support levels. He pointed out that the index has already broken below recent lows and the 200-day moving average, increasing the risk of further correction if it does not reclaim the 25,000 mark decisively.
The Sensex index is down over 300 points, falling below the 82,000 mark. Bank Nifty, which had earlier supported the broader market, has also weakened after breaking key supports, adding to near-term uncertainty.
Hathiramani believes the zone between 24,950 and 25,000 is critical for the index. Sustained trading below this range could open the door for a deeper fall towards the 24,500 level.
He added, “The upside resistances are now capped at 25,600 to 25,700 levels.”
Summing up his cautious stance, Hathiramani said, “We are in a definite short-term bear market. I would be looking at any kind of rise to look for opportunities to go short, unless we are able to get past those capped resistance levels.”
On the fundamental side, Gautam Baid, Equity Advisor, Complete Circle Stellar Wealth PMS believes the correction is creating opportunities, but only for investors who are highly selective.
“This is the market for bottom-up active stock picking, and you have to focus on areas which have got good earnings growth visibility for the next one to two years,” he added.
Baid highlighted that certain segments are already showing signs of earnings resilience despite the broader market weakness. These include microfinance-focused lenders, gold financing companies, silver-related plays, and parts of the auto ancillary space, where recent results point to improving fundamentals.
He also noted that market breadth indicators suggest the broader market may be approaching a zone where corrections historically tend to stabilise, though the recovery is unlikely to be uniform.
Watch accompanying video for more
Catch all the latest updates from the stock market here
Also, catch the latest Budget 2026 expectations updates here
Catch all the latest updates from the Q3 earnings here
