Technical View: Bears may tighten their grip if Nifty 50 breaks 23,000 support; Bank Nifty snaps four-day winning streak, resistance seen at 54,500
The psychological 23,000 level is expected to serve as immediate key support for the Nifty 50, as a decisive fall below it could open the door to 22,700, the 78.6 percent Fibonacci retracement level of the April rally. However, in the event of a bounce-back, the 23,300-23,500 zone is likely to act as a resistance area, according to experts.
