The stock market had a weak start to trading on Friday and the Sensex opened with a fall of 150 points, while the Nifty also fell below 24200. After the sharp fall on Thursday, the markets are now under pressure on Friday as well.
In early trade, IT stocks from the Nifty 50 pack are seen recovering somewhat. Counters like Infosys, Wipro, Tech Mahindra, Hindalco, and Apollo Hospital are showing gains. While counters like Trent, Coal India, BPCL, and Tata Motors of the Nifty 50 index are under selling pressure. SAIL stocks are also under selling pressure. Rail Vikas Nigam shares opened 6% down from the Nifty 500 and are facing heavy selling.
 

IT index stocks are in the lead in early trade. Buying is also being seen in metal and pharma. Banking and FMCG are under selling pressure.

If Nifty breaks the level of 24000 this time, then it may be difficult to save it from the clutches of sellers. In the last one month, Nifty has broken the 24000 level 5 times and buyers made it bounce back with force and somehow the 24000 level remained as a support level, but now amidst global events, another attempt by the bearers can take the market into a deep decline.

On the upside, there is a strong resistance in Nifty at 24300 and 24400. On the downside, after 24000, the level of 23900 can act as support.