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Nifty 

Nifty responded positively to its critical support at 22,800, witnessing a rebound, but continues to trend lower, remaining below its 5 DEMA resistance level of 23,050. Weakness is expected to persist until the index decisively breaks above its major trendline resistance at 23,410. A bearish crossover on short-term averages has shifted resistance lower from 23,610 to 23,410. The daily RSI has dipped below 50, while the ADX trending above 25 signals caution for long positions. The index now faces multiple resistance zones up to 23,300–23,410, which must be breached to resume a bullish trend. Until then, range-bound movement with a negative bias within the 23,400–22,400 zone is likely for the rest of the series. A stronger trend confirmation is essential before shifting the outlook. A sell-on-rise strategy remains favorable, with options data indicating firm resistance at 23,300 (earlier 23,500) and key support at 22,800 and 22,500. Long positions should only be considered if Nifty sustains above 23,560. Investors are advised to closely monitor earnings outcomes and identify opportunities in oversold stocks

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