Indian equity benchmarks snapped their two-session winning streak as disappointing corporate earnings and concerns over elevated crude oil prices triggered profit-booking.
The Nifty 50 ended the session at 22,889, down 257 points, or 1.11%. From a technical perspective, the index needs to reclaim and sustain levels above 23,000, followed by the crucial resistance zone of 23,200–23,300, according to Ponmudi R, CEO of Enrich Money. A sustained breakout above this range could strengthen bullish momentum and improve the near-term outlook.
