Relentless selling through the session with no real recovery attempts, participation stayed weak right till the close. The pressure was clearly concentrated in IT and new-age/digital names, hinting at global tech weakness feeding into our markets. With US tech underperforming overnight and yields staying elevated, that link showed up strongly today. Even defensives like pharma and healthcare couldn’t provide stability, while banks held relatively better but didn’t lead. Option positioning now shows a wide 23000–25000 range, with downside levels starting to get more attention after today’s move. Rupee weakness and rising long-term yields in India are adding another layer of pressure in the background. The next move depends on whether buyers show up near lower supports or stay on the sidelines again.

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