Pravesh Gour, Senior Technical Analyst at Swastika Investmart, mentioned that the Nifty is showing volatility but has a positive bias, with 23,200 being an immediate and significant support level. If the index falls below 23,200, there could be profit booking, potentially moving towards the 20-day moving average (DMA) of 23,000. On the upside, resistance levels are at 23,665 and 23,800. He highlighted key resistance levels at 23,665, 23,800, and 24,000, while key support levels are at 23,200, 23,000, and 22,800. Gour suggested a strategy of buying on dips near 23,200, with a stop-loss at 23,000 and a target of 23,800.
