Indian markets face headwinds as Nifty struggles above its 50-day moving average amid geopolitical uncertainty and IT sector weakness. Technical analyst Rajesh Palviya identifies a critical opportunity in sector rotation. The Nifty IT index has broken below 30,000 support with further downside risk toward 27,800, signaling sustained weakness across largecap and midcap IT stocks. Palviya recommends avoiding IT until the technical structure improves. Instead, he highlights strength in power, pharma, and FMCG sectors showing sustained buying momentum. For specific opportunities, AU Small Finance Bank presents a strong setup with higher highs and higher lows on weekly charts, targeting 1,100. SAIL offers metal sector exposure through a rounding bottom breakout on monthly charts. Bank Nifty remains relatively resilient, holding 56,000 with potential for fresh buying above 56,800.
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