Nifty 50 Outlook: NSE benchmark falls 4% in 1 month - What drove the decline, and is more pain ahead?

Nifty 50 has slipped into oversold territory amid rising crude oil prices, inflation concerns, elevated bond yields, rupee weakness, geopolitical tensions and a busy IPO market. Analysts expect resistance at 23,450-23,600 levels, while support remains near 23,000.