“The recent correction in Nifty 50 has intensified, breaking multiple support levels after a double top near 24,700 and breaching a rising trendline, indicating a Descending Triangle formation. This suggests the broader trend could remain under pressure in the near term. While momentum indicators are oversold, making a relief bounce possible, the broader trend is likely to remain weak until key resistance levels (23,600, 23,800, 24,000) are reclaimed. Immediate support is around 23,200-23,100.”