Technical View On Nifty50

On 8th January, the Indian benchmark index NIFTY closed below 25,950, confirming a breakdown of the rising trendline on the daily timeframe. The RSI (14) has declined sharply from 60 to around 44 after NIFTY marked an all-time high, indicating strong selling pressure and weakening momentum in the near term. The immediate support zone is placed around 25,680–25,710, while a decisive breakdown below this zone could extend the correction towards 25,500. On the upside, bulls may regain control only if NIFTY sustains a close above the 26,000 level, which could restore positive momentum.