F&O Talk| Technical indicators suggest strong bearish momentum. 23,200 level likely to provide cushion: Sudeep Shah

The Indian market has seen a significant correction, with the Nifty falling below its 200-day EMA. FII outflows and disappointing Q2 earnings have contributed to this decline. The 23,250-23,200 zone is a potential support level, while 23,900-24,000 is a key resistance. The market's short-term outlook remains bearish.