Market Caution: Nifty, Bank Nifty Face Downside Risks

The Indian stock markets, especially the Nifty and Bank Nifty, are facing some tough times.

Experts like HDFC Securities and Kruti Shah from Equirus Securities are advising investors to be careful.

They say the markets might go down further because there's a lot of betting against them, especially by foreign investors.

The Nifty has important support levels at 23,600-23,500 and resistance at 24,000-24,200.

Similarly, the Bank Nifty has support at 56,000-55,500 and resistance at 57,000-57,500 and 58,000.

Until the Nifty goes above 24,000 and the Bank Nifty stays above 58,000, it's better to avoid big investments and focus on individual stocks that are doing well.