Nifty risks 21,500, HDFC Bank eyes ₹640, IT rally shows fatigue: Anand James

Indian equities could face another leg of weakness unless the Nifty reclaims 22,800 early next week, with the index strategist Anand James warning that a break below the 22,000–22,070 support zone could open the way towards 21,500. He also sees HDFC Bank’s long-term bullish structure as broken, with the stock vulnerable to ₹640, while the recent IT rebound appears more like a relief rally than a durable sector rotation.