The most common and most likely answer to this crossword clue is the 5 letter word NADIR
I've seen this crossword clue in The Times
N
A
D
I
R
More clues leading to the result NADIR
- Deepest point in Mahanadi river
- Lowest point in Florida now receding
- Low section of arena — dirt-cheap
- Lowest point of rebellious playwright after female disappears
- The bottom drain is broken
- In London, a director’s lowest point
- She avoids Irish playwright reversing in the pits
- In outskirts of Namur, a detective’s lowest point
- Record low promotion among Northern Irish
- Northern Irish accepting a donation, originally for the pits
Buddy explains!

The straight part
We know that "the pits" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case the pits = nadir.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does NADIR mean?
NADIR noun- The point of the celestial sphere, directly opposite the zenith; inferior pole of the horizon; point of the celestial sphere directly under the place of observation.
- The lowest point; time of greatest depression.
- The axis of a projected conical shadow; the direction of the force of gravity at a location; down.
- An empty box added beneath a full one in a beehive to give the colony more room to expand or store honey.
- To extend (a beehive) by adding an empty box at the base.