The Nifty index exhibited sustained bearish momentum last week (ended November 14), shedding 2.55 percent, breaching its critical support at 23,800, and closed below its prior week's low at 23,533. This breakdown signals a weakening price structure. On the daily chart, Nifty is hovering near its critical level of the 200 DEMA at 23,540, which has historically served as a pivotal reversal point.