Will Nifty register its 9th straight weekly loss? Here's what analysts say

At current levels, the NSE Nifty is on course to log its longest (9th) weekly losing streak since April 2001, shows market data. Technical analyst expect support around the psychological 22,000-mark.

Disclaimer: Views and outlook shared belong to the respective brokerages/analysts and are not endorsed by Business Standard. Readers' discretion is advised. After surging over 1.6 per cent or 354 points to a mid-week high of 22,776, the NSE Nifty 50 reversed its trajectory and tumbled 2.6 per cent or 596 points in the last two trading days, thereby turning negative for the week. In doing so, the Nifty is now threatening to register its 9th straight weekly loss, its longest weekly losing streak since April 2001. In the previous eight weeks, the Nifty plunged 8.7 per cent. At current levels, the index has declined 9.5 per cent or 2,339 points in the last nine straight weeks. A weekly close below 22,422 would confirm the 9th straight weekly loss for the Nifty. Ponmudi R, CEO of Enrich Money says that the 25 basis points rate hike by the RBI continues to weigh on sentiment, raising concerns over tighter financial conditions. Meanwhile, foreign portfolio investors extended their selling streak to 10 consecutive days, while the rupee remained under pressure against the USD. Persistent foreign outflows and currency weakness add to the challenges facing domestic equities, the analyst said. The minutes from the US Federal Reserve and hawkish comments from Governor Christopher Waller reinforced concerns over the possibility of further rate increases, keeping global risk appetite fragile, he added. However, cues from the GIFT Nifty are slightly encouraging this morning, with the index implying a likely positive start of 70-odd points for the NSE benchmark index. CHECK Stock Market LIVE Updates 

Meanwhile, here's what technical analysts have to say about the Nifty.

 Ajit Mishra, SVP–research at Religare Broking says that the Nifty technically once again retested the April 2026 low of 22,182.55 on Thursday. 

Nifty chart

 

 The analyst cautions that a decisive break below this level could open the door for a move toward the 21,700–22,000 zones. On the upside, Mishra sees 22,400 as the immediate hurdle, followed by 22,700–22,800 levels. Ponmudi flags that the Nifty chart shows a clear sequence of lower highs and lower lows, signalling the continued dominance of sellers. He reckons, that the index remains vulnerable to further downside unless buying interest emerges around key support levels. Check - TOP GAINERS NSE | TOP LOSERS NSE  Ponmudi says the 22,500–22,600 is likely to act as the immediate resistance zone, while a sustained move above 22,600 could open the way for a recovery toward 22,800.  On the downside, 22,200–22,180 remains the crucial support zone. A decisive break below this range could accelerate the decline toward the psychological 22,000 mark. Echoing a similar stance, Hariselvan Radhakrishnan, Founder & CEO of HST Wealth also sees the 22,000-mark as a key psychological support. On the upside, the analyst says the index needs to sustain above 22,400 to extend gains toward 22,550–22,600. Om Mehra, Technical Research Analyst at SAMCO Securities, explains the weak bias on the charts, highlighting that the spread between the moving averages is widening, pointing to increasing weakness. "The Relative Strength Index (RSI) has slipped to 28 and remains in the oversold zone. India VIX surged 10.01 per cent to settle at 15.28, signalling a sharp rise in nervousness across the market," explains Mehra. Given the cautious set-up in the market, Mishra of Religare Broking suggests that market participants should align their positions accordingly and adopt a hedged approach, particularly given the possibility of heightened volatility amid the ongoing earnings season.