NIFTY outlook : 1st April 2026

Nifty 50 index formed a second consecutive strong bearish candle, marking a lower high and a lower low, which signals continuation of the ongoing downtrend. A long bear candle was formed on the daily chart, which is indicating a sharp reversal on the downside after a recent pullback rally of last week. This is not a good sign. The bearish chart pattern like lower tops and bottoms is intact on the daily chart and present weakness could be in line with the new lower bottom formation. But, there is no confirmation of any lower bottom reversal yet at the lows