“Nifty is showing a bearish setup in the near term, having slipped from the 23,800 support-turned-resistance zone and forming lower tops. Technical indicators like the 20-EMA, 50-EMA, and a bearish RSI crossover, along with a surge in India VIX, suggest weak momentum. Renewed selling pressure is expected if Nifty falls below 23,500, potentially dragging it towards 23,150 and lower, while 23,800 acts as a key short-term resistance.”

Rupak De’s track record: 27 graded calls · 95% CI 34–69%