Throughout the past trading week, the Nifty index exhibited a negative trend, closing down by 106.50 points (-0.47%). The index struggled to maintain stability after breaching critical support levels, oscillating within a 758-point range before settling near the lower end. Currently, it is approaching a significant support zone at 21,700, coinciding with the 200-week moving average. This level is crucial; if breached, it could lead to an extended corrective phase. The market's volatility has decreased, with the India VIX down by approximately 4.78%, but external factors such as geopolitical tensions in the Middle East and rising crude oil prices continue to pose risks. For the upcoming week, the market is expected to open cautiously, with immediate resistance levels at 23,000 and 23,250, while support levels are at 22,480 and 22,000. The Relative Strength Index (RSI) indicates oversold conditions at 26.49, and traders are advised to be defensive, focusing on protecting existing gains and being selective in stock choices. The Nifty Pharma, PSE, Infrastructure, Metal, and Energy sectors are showing relative strength, while the Nifty Auto and Bank indices are in a weakening phase. Overall, a risk-managed approach is recommended as the market navigates these challenges.