A morning walk down Dalal Street | Nifty likely to remain volatile with downside target around 10,460

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26 Aug, 2025 12:21

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Bears have taken over D-Street as equity benchmarks continued to fall for another consecutive session, as concerns over global growth weighed big.

Asian markets took a beating amid fears of a slowdown in developed economies such as China.

The Sensex saw a fall of over 270 points on Monday, while the Nifty managed to break 10,700-mark as well.

Technical experts said that the index has decisively breached its 200-day moving average (10,767) strengthening the bearish sentiments further and dissipating the hopes of a bigger pull back beyond 11,000 kind of levels.

On the downsides initial target appears to be around 10,460 and a failure to find support around these levels shall threaten the recent lows of 10,333, they added.

In this truncated week, concerns over global growth continue to haunt investors and the resultant selloff has been dragging the markets.

Going forward, this being expiry week, the market could tend to see more volatility ahead.

So far, in December series, Sensex and the Nifty have fallen around 2 percent.

As far as short term is concerned, Nifty is forming an expanding triangle on the daily charts, which indicates the choppiness in the short term trend. Oscillators also are not showing clear cut direction for the Nifty in the short term.

Last week, on Friday Nifty breached crucial support of 10800. Now this earlier support is now expected to act as a short term resistance for the Nifty. Close above 10800 in Nifty would resume an uptrend, which could take it towards 10950 and 11300 targets.

Max Call OI: 11,000, 10,900, 10,800

Max Put OI: 10,500, 10,700, 10,600

We spoke to HDFC Securities and here’s what they have to recommend:

Disclaimer: The views and investment tips expressed by investment expert on moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.