The Nifty index experienced a challenging week, closing down 1.87% with a net loss of 455.60 points, ending at 23,813.65. The index traded within a wide range of 788 points, reflecting heightened volatility as indicated by a 14.57% increase in the India VIX to 19.71. The Nifty has entered a corrective phase, slipping below key short-term moving averages and approaching a crucial support level around 23,800. A sustained breach below this level could lead to further declines. Conversely, resistance is observed between 24,400 and 24,500, with immediate resistance identified at 24,200 and 24,450. Analysts recommend a cautious stance, avoiding aggressive buying until the index stabilizes above these resistance levels. The Relative Rotation Graph indicates that while sectors like Energy and Infrastructure are performing well, others such as PSU Banks and Auto are expected to weaken. Traders are advised to remain nimble and prioritize capital protection in this volatile environment.