New Delhi, Sept. 25 -- After forming an inside candle on Wednesday, the Nifty witnessed a breakdown from the inside candle pattern on Thursday, opening with a gap down. Selling pressure increased as the session progressed, with the index slipping below the low of the long bearish candle formed on September 15. The decline further intensified as the Nifty breached the horizontal trendline support near the 23,070 level.

The day's movement resulted in the formation of a long bearish candle with a gap-down opening, reflecting strong selling interest among market participants. The index closed below the June 8 swing low of 23,070, confirming a breakdown from the four-month-long horizontal support zone.

The overall technical setup has turned ...