What is the story about?
The Nifty 50 continued its downward trend for a third straight session on December 17, though selective buying emerged at lower levels. The benchmark ended marginally below the 50% Fibonacci retracement
of the recent upswing from the November trough to the December peak. During the session, it edged closer to key supports such as the 50-day EMA at 25,765, the previous week’s low of 25,693, and even tested the lower Bollinger Band intraday. Bank Nifty also slipped alongside the broader market. Meanwhile, India VIX declined 2.24% to an all-time closing low of 9.84, reflecting market calm and bullish comfort, though such low volatility also leaves room for a sharp move in either direction.
