“Neutral on Nifty 50 in the near term, with immediate resistance at 23,550–23,600 and support at 23,400. A sustained move above 23,600 is needed for recovery towards 23,700–23,800. While momentum indicators like RSI (26) and MACD (-159) show significant weakness and selling pressure, the deeply oversold RSI suggests potential for a technical rebound or short-covering bounce from lower levels.”