Nifty 50 support at 22,570; Bank Nifty weak as September ends

Indian stock market indices Nifty 50 and Bank Nifty fell on September 29, with experts warning of further downside if key support levels break, according to a pre-market trading report for September 30. Nifty 50 closed at 22,716, down a third of a percent, after declining 5.67 percent in September. The level of 22,570 is crucial; breaking below could push the index toward 22,380 and then 22,182, while holding above may drive it toward 22,800–23,000. Bank Nifty fell 0.39 percent to 54,260, with both indices showing weak technical indicators like declining RSI and MACD. Options data shows maximum Call open interest at 23,000 for Nifty and 55,000 for Bank Nifty, acting as resistance, while Put support sits at 22,700 and 55,000 respectively. India VIX fell 1.65 percent to 13.41, and the Put-Call ratio rose to 0.91. SAIL remains under the F&O ban, while LIC Housing Finance was removed.