The Nifty 50 has experienced a decline of almost 1% on October 25, marking its fifth consecutive session of losses. The index closed at 24,181, the lowest level since August 14, and is expected to test the August low of 23,894 in the coming week.

Analysts suggest that the index's inability to sustain the 24,400 level and the recent bearish candlestick patterns indicate a continuation of the downtrend, with the potential to breach the 24,000 support. The Nifty has dropped 2.7% for the week, losing 673 points and forming a long bear candle, reflecting a persistent downtrend characterized by lower highs and lower lows.

With significant selling pressure and a subdued earnings season, experts believe that while a temporary bounce towards 25,500-25,600 may occur, it is unlikely to hold due to ongoing weak momentum and a prevailing 'sell on rally' strategy. The index is currently trading below all key moving averages, reinforcing the bearish outlook across all time frames.