Nifty Pre-Open: Weak Tape, CG Power in Focus

The bearish move in Nifty continued, testing the mentioned support of 23,520 and lower. Although bulls attempted a bounce, the index closed at the lower end, settling below the 23,650 support. RSI is supportive, with a positive divergence developing, keeping the door open for a bounce, though the broader view stays weak until confirmed. Resistance: 23,500-23,450 cluster, then 23,618 and 23,718. Support: 23,380, then 23,330. Reclaiming 23,500 on a 30-minute closing basis would be the first sign of a temporary bottom forming. Until then, the view stays weak.

has moved out of its recent consolidation range with a 1.78% move yesterday, with support now placed near 885. How price behaves around this zone will matter — holding above it keeps the structure constructive, while a slip back into the range would call the move into question. A move out of a consolidation range only carries weight once the breakout level holds as support on a retest — the initial move alone doesn't confirm continuation. 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.