According to Nagaraj Shetti of HDFC Securities, the Nifty’s short-term trend is significantly bearish, with weakness evident across various timeframes. The key support level to watch for further downside is around 23,625, which aligns with the 38.2% Fibonacci retracement level. On the upside, immediate resistance is anticipated at 24,250.
Positive Breakout: These 11 stocks cross above their 200 DMAs
In the Nifty500 pack, 11 stocks’ closing prices crossed above their 200 DMA (Daily Moving Averages) on June 04, 2026, according to stockedge.com’s technical scan