Near-term bias for Nifty turns negative, can dip 3% from here; hint charts

Technical chart shows that the Nifty has dipped below its short-term moving averages, and broken below the trend line support.

The BSE Sensex and the NSE Nifty have now ended with losses for the last three straight weeks. The benchmark indices have shed around 2.6 per cent at 81,758 and 24,968 levels, respectively. In the process, the Sensex and the Nifty have dipped below the short-term moving averages on the daily scale.  The NSE Nifty, in particular, is seen quoting below its 20-Day Moving Average (20-DMA) and the 50-DMA. Technical chart shows that the near-term bias for the index has turned negative with it falling below the super trend line support for the first-time since April 15, 2025.