Indian equity markets extended their opening weakness into a broad-based sell-off on Thursday, with the benchmark NSE Nifty 50 breaking through successive support levels at 23,300 and 23,200. The index settled at 23,063.10, down 383.70 points, or 1.64%.
From a technical perspective, immediate support for the Nifty is placed at 23,000, below which the index could fall towards 22,700. On the higher side, resistance is placed at 23,200, according to Rupak De, Senior Technical Analyst at LKP Securities.
