Nifty Weakens Holds 25,000 Support as IT Stocks Drag Market Down

Nifty 50 opened flat and slipped to an intraday low near 25,085 before recovering towards 25,262. However, late selling dragged the index down again, and it finally closed around 25,170, down nearly 33 points. The IT sector led the decline as concerns over the sharp hike in US H-1B visa fees continued to weigh on investor sentiment. Autos provided some support on hopes of festive demand and GST relief. Technically, Nifty managed to hold the key 25,000 support with help from short-term moving averages, but momentum looks weak. A break below 25,000 could invite further downside, while resistance is seen around 25,400–25,500. Disclaimer: Investments in securities are subject to market risk. This is for educational purposes ***** must verify information before investing and consider their financial position & risk profile. please read full disclosure disclaimer in given link