Nifty 50 formed strong bearish candle in the weekly chart and closed below the pivotal level of 200 SMA. 23200 -23200 is seen as next potential support zone.The breach of this zone may open further down side towards 22800 in short-term.23800 -24000 is seen as next resistance level, and if any breakout from this level may open upside move towards 24150-24300 in zone in short-term.
The market data shows highest open interest in call side at 23700 and 23800 strike price level.23500 and 23600 strike price shows maximum open interest in put side.
Nifty 50 is currently in negative trend and shows continuation of downtrend.