!Nifty

Nifty continues its recovery streak today, showing resilience as it attempts to sustain above the psychological 23,300 mark. With global cues turning stable and crude prices easing, the domestic sentiment remains "Buy on Dips," but caution is warranted at higher supply zones. Immediate Resistance: 23,450 – 23,520. A decisive hourly close above 23,450 could trigger a fresh short-covering rally toward 23,700. Crucial Support: 23,180 – 23,200. As long as Nifty holds above this zone, the bullish structure remains intact for the day. The "Make-or-Break" Zone: 23,000. This remains the 'Lakshman Rekha' for bulls; any slip below this on a closing basis could invite fresh selling pressure. Focus on Heavyweights: Keep a close eye on HDFC Bank and Reliance. Their stability will be the primary driver for Nifty to cross the 23,400 hurdle. Risk Management: Intraday volatility is expected to remain high near the resistance zone.