Indian equity benchmarks are set for a subdued opening on Wednesday, tracking mixed global cues and lingering caution from a sharp selloff in technology stocks.
The Nifty 50 closed below the 24,000 level on Tuesday, a threshold that traders are watching closely for signs of a broader trend reversal.
Unless the index regains this support, the market remains in a sideways to negative posture, reflecting the broader risk-off sentiment that has gripped international markets.
The selling pressure on Tuesday was broad-based, driven by weakness in global technology shares that spilled over into domestic trading.
This dynamic has left investors wary of further downside, particularly in growth-oriented segments.
While the immediate outlook is for a muted session, the inability to reclaim 24,000 suggests that the bearish momentum has not yet been fully exhausted.