The Nifty 50 index has recently experienced a significant decline, falling below the 24,000 mark and ending with a 1.5 percent loss during the monthly F&O expiry session on November 28.

This drop occurred after the index traded within a range of 24,100–24,350 for three days, and it resulted in the formation of a long red candle on daily charts, indicating a bearish trend.

Analysts are closely monitoring the situation and have identified the next critical support level at 23,600, which coincides with the 200-day EMA. On the other hand, if the index manages to rebound, resistance is expected in the 24,100–24,200 range. Investors should remain vigilant about these key levels as they assess potential trading opportunities.