The lack of positive divergence indicates that selling pressure remains intact. Technically, the index is trading below all key moving averages (21, 50, 100, and 200 DMA), reinforcing the prevailing downtrend and highlighting the absence of near-term strength.
From a structural standpoint, immediate support is placed near the 50,000–49,800 zone, at a psychological and technical level. A decisive breach below this could open the path toward 49,000–48,500 levels in the near term. On the upside, resistance is now seen around 51,600–52,000, followed by a stronger hurdle near the 21-DMA at 55,500.