“Rupak De of LKP Securities observes that Nifty is currently in an indecisive range-bound trade, having failed to close above the crucial 23,800 resistance level. He emphasizes that a decisive breakout from this range is essential for the next leg of rally or correction in the short term. On the downside, immediate support is at 23,600, with a potential drift to 23,400 if breached, which could trigger a sharper correction. Conversely, a decisive move above 23,800 could induce a fresh upward rally.”

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