On the price front, immediate support for Nifty 50 is placed near 22,600–22,400 , with a breakdown below this level potentially leading to further downside. On the upside, resistance is seen at around 23,200, followed by a stronger hurdle near 24,000, where key moving averages are clustered. Looking ahead, the index is expected to remain volatile with a slight positive bias in the near term, supported by short-covering and improving sentiment. However, unless it reclaims key moving averages, rallies may face selling pressure. Macro cues, including FPI flows and global stability, will remain critical for sustained upside.
About The Author
