Nifty 50 Declines Amid Middle East Tensions, Key Support Levels Tested

Indian equity markets faced significant pressure amid escalating US-Iran and US-Israel-Iran tensions, with the Nifty 50 dropping over 1.2 percent to close near 24,865. Key support levels around 24,600 and 24,300-24,000 are under threat, while resistance near 25,000 remains crucial. Technical indicators signal bearish momentum, though some intraday recoveries were noted. Market volatility increased, with sectors like financials, auto, and consumer stocks leading declines. Analysts highlight cautious sentiment amid geopolitical risks and elevated uncertainty.