Worries about global politics and trade are pulling the Nifty 50 down. Experts say the market could drop further low.
Technical analysis can help you understand market trends so that you can make informed investment decisions, says Rupak De, senior technical analyst at LKP Securities.
'On the weekly chart, the Nifty 50 index has formed a bearish candle and remains below all short-term moving averages.'
If the index is unable to sustain above 24,500 levels, technically it can then slip to its 200-DMA placed at 23,365 levels.
The Nifty-Sensex have recorded successive 52-week lows through the last week.
Weakness of the dollar in the overseas market also boosted the rupee, a forex dealer said.
Financials are the top gainers along with index heavyweights.
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