Technical View: Breakdown below 23,100 support could strengthen bears’ grip on Nifty 50; Bank Nifty requires follow-through buying to sustain recovery
According to experts, the 23,100–23,000 zone can act as immediate support for the Nifty 50. A decisive fall below this range could potentially drag the index towards 22,700 (the 78.6 percent Fibonacci retracement level). However, immediate resistance is seen at the 23,600–23,700 levels. The Nifty 50 recouped 254 points from the day’s low…