On the technical front, immediate support for the Nifty is placed in the 23,500–23,450 zone, aligning with recent swing lows and short-term moving averages. Stronger support is seen near 23,200, which has acted as a base during the recent correction. On the upside, resistance is placed in the 24,200–24,400 range, followed by a key hurdle near 24,700, coinciding with the 50- and 100-day EMA cluster.
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