Nifty slides to 23,140.50, extending seven‑week decline

Nifty fell 0.88% to 23,140.50, pushing its losing streak to seven consecutive weeks. Technical momentum stayed bearish throughout the session. Traders see the 23,000‑23,200 range as the key support level. Above that, 23,375 and 23,600 act as major resistance points. The market faced heightened volatility as the derivatives expiry approached. Sector rotation added pressure, with investors moving out of lagging stocks. Analysts note that breaching the support zone could trigger further downside, while a bounce back above 23,375 might spark a short‑term rally. The index’s weakness reflects broader caution ahead of the expiry cycle.