Nifty 50

Let's talk about yesterday's session before market opens for today, Nifty 50 closed at 23635.10, down 144.05 points (-0.60%), extending the selling pressure seen in the previous session. The index opened at 23743.10 and immediately remained under pressure, showing  that bears continued to dominate sentiment. Nifty made an intraday low of 23623.10, while the recovery attempts during the session remained limited and failed to produce a meaningful reversal. The index spent most of the day moving in a narrow but downward-biased range around 23650-23700, indicating persistent supply rather than aggresive buying. 

Market Breadth was clearly negative, with 31 stocks declining against only 17 advancing and 2 unchanged, confirming broad based weakness. The immediate support zone is now around 23600-23620, and a decisive breakdown below 23600 could potentially take Nifty toward 23500 and then 23400. On the upside 23700-23750 is the first resistance zone, while 23780-23850 would be a stronger hurdle for any meaningful bullish recovery.

The index has now fallen from the 23900 area toward 23600, creating a clear sequence of lower levels and keeping the short term structure firmly bearish.

For Options traders, PE/Short setups remain preferable on a confirmed break below 23600, while CE positions should ideally be considered only after Nifty reclaims 23750-23800 with strength.

Final view: Bearish - momentum remains with sellers, and unless Nifty quickly recovers the 23750-23800 zone, the risk of further downside toward 23500-23400 remains elevated.

This analysis is not guaranteed outcome or any personalized financial advice be cautious before taking any trade. Do your market analysis and study before hand. This analysis is based on the closing market for Nifty 50 today and for educational purpose.

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