New Delhi, Feb. 25 -- Falling for the fifth consecutive session, frontline index Nifty 50 ended with a solid loss of 243 points, or 1.06 per cent, at 22,553.35 on Monday, February 25. On a monthly scale, the index is now down over 4 per cent and looks set to extend the losing streak to the fifth consecutive session.

According to Mandar Bhojane, an equity research analyst at Choice Broking, the Nifty 50 trades near the lower support of a falling wedge pattern on the daily chart, forming a neutral candlestick.

Bhojane believes a decisive close below 22,550 could lead to further downside toward 22,400 and 22,200 in the short term. Conversely, 22,800 is acting as a strong resistance, and fresh buying may only emerge if the index sustains ab...