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Technical View: Bears could target 23,500 if Nifty breaks decisively below Monday’s low; 54,200 key for Bank Nifty as VIX spikes 10%
If the Nifty 50 decisively breaks and sustains below the 23,800 level, then 23,500 will be the key level to watch on the downside. On the higher side, however, the psychological 24,000 level is expected to act as immediate resistance, followed by 24,200.