22/09/2026
π Nifty Market Outlook: 23,470 Resistance Holds Firm; Downside Targets 23,116 β 23,070 π
Nifty 50 validated yesterday's technical setup as price action hit the channel resistance line, faced seller rejection at 23,470, and closed in negative territory.
π Key Ex*****on Parameters:
π‘οΈ Validated Resistance: 23,470 (Critical pivot for overall trend bias)
π― Downside Target Band: 23,116 followed by 23,070 (Key support levels)
β‘ Structural Shift Level: Breakout above 23,470 shifts trend structure toward 23,600
π Current Bias: Structurally bearish below 23,470
As long as price remains capped below 23,470, primary focus stays on bearish continuation toward the 23,116 β 23,070 support levels. A decisive breakout above 23,470 is required to initiate a bullish reversal.
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