The Nifty index sell-off indicates it’s still a sell-on-rise scenario, with immediate resistance at 23,100 and support at 22,850. Momentum indicators remain below oversold levels, suggesting a potential dead cat bounce. Options data for January expiry shows increased put writing at 23,000 and above, signalling support, according to Praveen Dwarakanath of Hedged.in.
FPIs bet small on local debt, inflow pickup seen far away
April witnessed a slight inflow of foreign investments into Indian debt, but the atmosphere remains one of caution. Influences like escalating US and Japan interest
May 2, 2026