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Trade Setup For Nov. 2: Nifty Eyes Resistance At 23,200; Can Bulls Push Index Above 24,000?
NDTV Profit 1 hr ago·1 Nov 2026, 4:33 pm
Stocks NDTV Profit
The Nifty 50 is hovering near the 23,200 level, a technical resistance that has capped recent rallies. Traders are watching whether the index can break through this barrier, which would signal continued buying momentum.
A breach above 23,200 could open the path to the next major target of 24,000, a level that historically marks a strong bullish phase. Conversely, failure to hold the level may pull the index back toward the 22,800 support zone.
Investors should keep an eye on upcoming domestic data releases, corporate earnings, and global cues such as US Treasury yields, as these can influence the short‑term direction. Volume spikes or a decisive close beyond 23,200 would be key signals to monitor.
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