NIFTY50 | Rejection Near 23,500 Keeps Pressure Intact
๐ Repeated rejection near the 23,500 mark continues to highlight this zone as a strong area of supply for the index.
๐ Nifty has retraced from the day's highs and is now trading in negative territory, slipping below both the 20-hour and 50-hour EMAs.
๐ On the downside, the immediate demand zone is placed around 23,150โ23,200, followed by a broader support level near 23,000.
๐ Unless the index is able to reclaim the 23,500 mark decisively, the prevailing market structure remains under pressure.
๐ฏ For now, the market continues to reflect a sell-on-rise environment, with elevated volatility likely to persist in the near term.
#Nifty50 #StockMarketIndia #NiftyAnalysis #TechnicalAnalysis #MarketOutlook #OptionsTrading
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15 lessons on communication:
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https://t.co/lQ5bTVyiyT