On April 24, 2023, the Indian stock market continued its downward trend for the third consecutive session, with the BSE Sensex falling by 983 points to 76,710 and the NSE Nifty 50 dropping to 23,899. The decline was largely driven by a sharp sell-off in the IT sector, where the Nifty IT index fell nearly 4% due to disappointing guidance from major players like Infosys and concerns over AI disruptions. Additionally, elevated crude oil prices, hovering around $106 per barrel, raised fears of inflation and increased import costs for India. Geopolitical tensions, particularly between the US and Iran, further exacerbated market uncertainty. Analysts suggest that while there may be short-term tactical recoveries, the long-term outlook for the IT sector appears bleak. The Indian rupee is also under pressure, contributing to overall market volatility. Technical indicators suggest that the Nifty index has crucial support at 23,790-23,810, with resistance at 24,040-24,060.