F&O Talk: Nifty looks weak on chart, says Sudeep Shah; outlines HDFC Bank, Bluestone Strategy after Q1

Nifty ended the week at 23,767, registering a decline of 2.33% with selling pressure across all five sessions, driven by a surge in Brent crude prices amid US-Iran tensions and a rise in US 10-year bond yields. The index found support near the 61.8% Fibonacci retracement level of its rally from 23,070 to 24,531, but momentum indicators signal continued bearish undertone with the 23,650–23,600 zone as critical support. Bank Nifty declined over 3% to around 56,700, briefly slipping below its 200-day EMA before recovering, with the 56,000–55,800 zone marked as key support and 57,300–57,400 as resistance.