Cloudy with a chance of correction? Nifty’s outlook overcast

The benchmark National Stock Exchange Nifty 50 has logged back-to-back weekly losses for only the third time this calendar year. On previous occasions, the index rebounded after two consecutive weeks of decline. Will it follow the same pattern this time? Analysts suggest that the current index level and sustained selling by overseas funds are clouding the outlook. “Technically, the market outlook remains largely unchanged, presenting a challenging environment with no clear trend,” said Sameet Chavan, head of research, technical, and derivatives at Angel One. “The 24,800 mark serves