The Nifty index has been on a downward trajectory, closing lower for the third consecutive day, primarily due to significant selling in the banking, auto, and energy sectors. Rupak De, Senior Technical Analyst at LKP Securities, noted that the index has broken down from a consolidation phase, indicating a potential bearish trend with immediate support at 23,700 and resistance at 24,000. Analysts recommend buying Tata Consumer Products at ₹1,270 with a target price of ₹1,385, citing a strong bullish breakout from a long-term consolidation structure. The stock has shown consistent higher lows and increased buying volume, indicating strong momentum. Similarly, Welspun Corp is suggested at ₹1,329, targeting ₹1,435, as it exhibits a bullish continuation pattern with a clear trend of higher highs and lows. Both stocks are seen as favorable for positional buying amid current market conditions.