Nifty formed a long bear candle, indicating a downside breakout. The index closed near the gap support of 23,900. Immediate support is at 23,800 and 23,560 (200-DMA). Resistance is at 24,350-24,360. A breakout above 24,360 is needed for a further uptrend. The highest OI on the call side is at 24,000 and 24,100, and on the put side, it’s at 23,800 and 23,900.
MSCI rebalancing on Monday: Adani Energy, Groww set for big inflows; RIL, Jio Financial may face outflows
MSCI’s latest rebalancing is set to drive heightened trading activity in several Indian stocks on Monday, with revised weights taking effect from September 1. The