Nifty has been trading near the 78.6% retracement of the entire September decline. The key Fibonacci level is near 17800. The hourly chart shows that the index is in process of forming a distribution near this key hurdle. The hourly momentum indicator has developed a negative divergence, which is a sign of exhaustion, said Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by BNP Paribas.
ITC, HUL among 10 FMCG stocks that have tumbled up to 31% in 2026. How many do you have?
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