Will markets see more downside next week? Nifty has to trade above 23,600 for bulls to wrest control, say analysts

The equity benchmark indices Sensex and Nifty settled more than 1 percent lower on Friday, marking their third straight day of decline, as a surge in crude oil prices dampened investor sentiment. The fall comes amid a sharp rise in crude prices due to continued uncertainty over US–Iran negotiations. A weak earnings outlook from Infosys also triggered heavy selling in IT shares, adding pressure on the benchmarks. Analysts said the Nifty slipped below its key support level of 23,900, which coincides with the 20-day exponential moving average, indicating a possible negative bias in the near term. Persistent foreign fund outflows…