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Key moving averages come into focus as benchmark momentum weakens
Nifty remains under pressure with the 50-day exponential moving average acting as a crucial support level, while Bank Nifty shows resilience after holding above its 20-day exponential moving average amid overall market weakness.
Market technicals show continued pressure on benchmark indices as the Nifty remains below short-term resistance levels, keeping the 50-day exponential moving average in focus for trend confirmation. Analysts note that a decisive break below this support could deepen weakness. Meanwhile, Bank Nifty continues to defend its 20-day exponential moving average, indicating relative strength in banking stocks despite broader market caution.