**Market Update: Nifty and Bank Nifty Slump for Third Consecutive Week**
**Bearish Momentum Takes Hold**
The Indian stock market has witnessed a dismal performance, with both Nifty and Bank Nifty ending their third straight week in the red. The bearish momentum has intensified, with the indices slipping below their key Exponential Moving Averages (EMAs).
**What’s Driving the Market Down?**
According to analyst Sudeep Shah, there are several critical factors contributing to the market’s near-term direction. One key indicator is the weakening Relative Strength Index (RSI) levels, which suggest a loss of momentum in the market.
**FII Selling Pressure**
Another significant trigger is the heavy selling by Foreign Institutional Investors (FIIs). FIIs have been net sellers in the Indian market, putting downward pressure on stock prices.
**Earnings Season in Focus**
The ongoing earnings season is also expected to play a crucial role in shaping the market’s direction. Key corporate earnings announcements will be closely watched by investors, and any disappointment could lead to further selling pressure.
**What’s Next for the Market?**
As the market continues to struggle, investors are advised to exercise caution and keep a close eye on these critical triggers. With the bearish momentum intensifying, it’s essential to stay informed and adapt to the changing market landscape.
