Though, Nifty placed near the crucial support of 23100 levels (previous opening upside gap of 8th April), it has failed to gather strength to sustain the highs so far. This not a good sign.
Technically, Nifty continues to remain in a downtrend, trading below all key moving averages. A decisive close below 23,070 could trigger further downside
Gift Nifty is indicating a flat-to-negative start with futures trading near 23,168, slightly below the previous Nifty close of 23,215.
Nifty closed at 23,214.95 and continues to trade below all major moving averages, confirming that bears remain in control of the broader trend.
WTI Crude is trading near $90.90 after easing from recent geopolitical highs.
Iran and Israel have paused direct attacks, reducing immediate war premium in oil prices.
