New Delhi, June 8 -- The Nifty 50 ended the week gone by on a negative note amid persistent FII selling, geopolitical developments, fluctuations in crude oil prices, and caution ahead of the RBI policy announcement.

The index traded in a range of 23,700 to 23,150 and fell nearly 1% for the week ended June 5, extending losses for the second consecutive week.

According to Jigar S. Patel, Senior Manager of Equity Technical Research at Anand Rathi Share and Stock Brokers, the 23,300-23,100 zone continues to represent a critical demand area, and its ability to hold will be pivotal in determining the market's near-term direction. As long as this support band remains intact, the broader market structure continues to favour a constructive outlo...