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.
Tech view: Nifty’s positive sentiment on verge of negation, crucial support at 23,500. How to trade on Monday
Nifty closed below key support at 23,500, signaling further downside risk. Analysts highlight bearish momentum, with potential declines toward 23,260 or lower. Immediate resistance lies
January 10, 2025