Immediate support is placed at 22,397, followed by 22,300 and the psychological 22,000 level. A decisive breakdown below 22,000 could extend weakness toward 21,800. On the upside, 22,622 is the first resistance, followed by 22,800 and 23,000; the declining 21-DMA near 23,235 remains the principal hurdle. Near-term rebounds may receive support from positive global equities and modest easing in crude prices. However, heavy FII selling, rupee weakness, oil remaining above $100, and elevated US Treasury yields remain substantial headwinds. Therefore, Nifty may remain volatile with a cautious bias unless it decisively reclaims 22,800–23,000 on stronger volumes and improving breadth.
