Do technical charts predict more downside for the Nifty? Key levels here

The NSE Nifty on Tuesday, June 04, registered its biggest intra-day fall ever on declining nearly 2,000 points beating the Covid-19 induced panic selling loss of 1,162 points on March 23, 2020.

The NSE Nifty 50 index nose-dived in intra-day trades on Tuesday, June 04, 2024, amid the counting of the Lok Sabha 2024 election votes. In a sudden turn of events from the day earlier, the Nifty cracked 8.5 per cent down nearly 2,000 as it hit a low of 21,281 after actual poll results deferred significantly when compared to the exit poll outcome.

The Nifty had rallied 733 points on Monday, June 03, after exit polls predicted a landslide victory for the Modi-led NDA government, with on an average 350+ seats.

However, as the actual counting took place on Tuesday,