Nifty Outlook for September 28: 23,000 key support as truncated week begins

T he Nifty staged a modest rebound on Friday, recovering 77 points to close at 23,140 after Wednesday’s sharp sell-off. The index opened 28 points higher and traded in a narrow range for most of the session before recovering around 142 points from its intraday low. Despite Friday’s gains, the Nifty posted its seventh consecutive weekly decline, falling 0.88% over the week. The index has now corrected more than 1,750 points from its early-August swing high of 24,772. Axis Bank, Asian Paints and M&M were the top Nifty gainers, while Max Healthcare, Tata Motors Passenger Vehicles and Infosys ended among the biggest losers.