Nifty faces critical test at 23,000 support as market enters corrective phase

Nifty is trading in a corrective, range-bound setup this week with weak momentum indicators and subdued volatility signaling cautious sentiment. The 23,000–23,100 zone has emerged as crucial support, while 23,500 represents the first resistance level.

A sustained move above 23,500 could trigger a market rebound, whereas a break below 23,000 may deepen the correction. Traders are advised to monitor these technical levels closely as the index navigates near-term headwinds.