Nios stock price edged up in the intraday levels and recouped some recent losses, while venting off oversold saturation in the RSI with positive signals out of them, amid the dominance of the main downward trend in the medium term, with negative pressure from the 50-day SMA.

Therefore we expect the stock to return lower, targeting the main support at 24.00, provided the stock settles below 5.24.

Trend forecast: Likely Bearish