NIFTY 50 Bearish Rejection from Resistance Nifty 50 IndexNSE_DLY:NIFTYPRIMEALPHA-FX The NIFTY 50 index is showing signs of rejection near the **24,070 resistance zone**, where price struggled to break above a key horizontal level. After a strong push upward, the market failed to sustain momentum and formed a minor consolidation just below resistance, indicating weakening bullish strength. Price remains below the Ichimoku cloud resistance area, suggesting an overall **bearish bias** in the short term. The recent structure shows lower highs forming after rejection, increasing the probability of a downside move. A breakdown below the immediate support zone could trigger further selling pressure. **Target:** 🔻 **23,816** – Key support level marked as the downside target **Outlook:** As long as price stays below **24,070**, the bias remains bearish, with a potential move toward the **23,800 zone**. A clean break above resistance would invalidate this setup and shift momentum back to bullish.