New Delhi, Feb. 15 -- Nifty 50 trading near its three-week low with all major sectors ending in the negative territory. The index is showing signs of weakness and trading below the 21-day and 55-day moving averages. The MACD indicator has turned negative, and the MACD line has crossed below the signal line, suggesting a bearish trend. Additionally, Nifty is trading below horizontal support which is 23,350, which may likely to act as strong resistance level. Unless it sustains above 23,350, a sell-on-rise approach is preferred. The key support is placed at 22,800-22750 breaching below that may take it toward 22,500, and further downside could take it to 22,000, a key support level aligned with the 100-week EMA.

Bank Nifty closed in the re...