Nifty Pre-Open: Sitting on 23,900 Base Support

Nifty tested the falling trendline resistance near 23,970 but failed to sustain above it, slipping back to settle at 23,897.70 — right at the lower edge of the 23,900–23,950 base. The pullback keeps the corrective structure intact, with the index now testing this shallow support rather than pressing against resistance. RSI at 49.08 is flat around the midline, reflecting stalled momentum. Resistance: 23,970 (trendline confluence), then 24,045. Support: 23,900–23,950 base, then 23,860 and 23,800. Holding above 23,900 keeps the door open for another attempt at 23,970, with 24,045 as the target on a sustained break above it. A close below 23,900 would confirm a base breakdown, exposing 23,860 and then 23,800. Bears stay in control as long as 23,970 caps price on the upside.

is trading above its wedge breakout, with support near 1,303 — holding this level could open a test of 1,355. RSI is healthy, backing the constructive structure. A failed test of resistance followed by a slide to shallow support shows momentum stalling — the next close, not the last, will reveal the real direction. Disclaimer: This is for educational purposes only and is not investment advice. Please consult your financial advisor before making any investment decisions. SEBI Registered Research Analyst — INH000025212.