New Delhi, Sept. 30 -- The Nifty 50 has spent seven weeks going nowhere but down. History suggests that could be the point at which the market finally gets a breather.

In three of the four previous instances when the benchmark index fell for seven consecutive weeks, it rebounded over the following six weeks, according to data from Samco Securities. That raises the prospect of a relief rally as the current losing streak enters its eighth week.

But there is an important catch: the current sell-off is far less severe than those earlier episodes. The Nifty 50 has lost 5.82% over the past seven weeks, compared with declines of 18%, 20%, 22% and 33% during comparable stretches in March 2001, September 2001, 2008, and 2020.

So while history p...