PRE MARKET REPORT---->Nifty Approaches Its Final Support as Global Pressure Builds — Will 23,600–23,700 Hold the Bulls?

Indian markets are likely to begin the day on a cautious note as Gift Nifty indicates another gap-down opening, marking yet another session of weak global cues. With crude oil remaining elevated, FIIs continuing to sell, and Nifty approaching a crucial support zone, today's session could be important for the market's near-term direction. ##Global Cues Remain Weak Key Overnight Developments • Gift Nifty indicates a mild gap-down opening • Crude oil surged nearly 8% in the previous session and continues to trade above $80 ----->Nifty Near Its Last Major Support The market is now approaching a crucial technical zone. Key Levels Immediate Resistance: 24,000 Major Support: 23,600–23,700 This support zone is likely to be closely watched by traders. If Nifty manages to defend this area, a technical rebound is possible. However, a decisive break below 23,600 could weaken market sentiment further. ## !INFY Q1: Strong Business, Cautious Outlook Infosys reported a healthy operational quarter with: • Revenue up 14% YoY to ₹48,211 crore • Net Profit up 12.2% YoY to ₹7,769 crore • AI revenue increased to 8.2% of total revenue • Large deal wins remained strong at $3.6 billion ------>FII / DII Activity (23 July 2026) Cash Market • FII: -₹2,999.23 crore • DII: +₹2,947.14 crore FII Derivatives • Index Futures: -₹1,840.02 crore • Index Options: -₹10,223.94 crore • Stock Futures: +₹2,181.49 crore • Stock Options: +₹1,346.21 crore FIIs continued to reduce exposure in the broader market through cash and index derivatives ##Sectors in Focus IT • !INFY • !TCS • !HCLTECH • !WIPRO Energy !JSWENERGY !NTPC !TATAPOWER Higher crude prices could keep ONGC, Oil India and other upstream energy companies in focus ##Bottom Line Today's session could be an important test for the bulls. With 23,600–23,700 acting as the final major support, traders will closely watch whether domestic buying can absorb global weakness..