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On the other hand, geopolitical risks are still high. Global risk indicators continue to show heightened concerns around interstate tensions and geoeconomic confrontation through 2026. Such uncertainty can keep volatility high in commodity marketseven if spot prices are taking a breather.
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The index is attempting to fill last weeks downside gap, and the crucial support at the 200-DMA near 25,300 is likely to be tested in the near term, Jain added.
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Nifty ended sharply lower as broad-based selling pushed the index below key technical levels, with volatility rising. Rupak De of LKP Securities warned of near-term weakness toward 25,000 unless resistance is reclaimed. Technical analysts suggested buying Kirloskar Oil Engines and Bajaj Finance on breakout patterns.
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