Nifty encountered a downward move, breaching the first support level highlighted yesterday and reaching the second support zone between 21850 and 21937. Although there might be a slight rebound in sight, indicated by GIFTNifty signalling a potential GAP UP opening, caution is advised as the market appears to be in "Sell on Rise" mode. The nearest resistance levels stand at 22148 to 22187, with further resistance observed between 22244 and 22369. Meanwhile, the nearest support remains unchanged from yesterday, ranging between 21850 and 21937. Traders are advised to stay vigilant amid the current market conditions.
