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Following weak global cues, NIFTY opened with a significant downside gap but found support near the 21,700 level in early trade. It then moved sideways within the 21,800 – 22,000 range for most of the session. In the final hour, NIFTY breached the 22,000 mark and extended its recovery to test 22,200, eventually closing just above 22,150.

Given the recent sharp moves, volatility is likely to persist in the coming sessions. On the upside, NIFTY faces strong resistance in the 22,500 – 22,700 zone. A breakout and sustained move above 22,700 would be required to consider fresh long positions.

On the downside, key support lies in the 21,900 – 21,700 range. Long positions can be held with a stop-loss below 21,700. A breach of this zone could open the door for further downside.