Indian equity markets continue to face downward pressure as the Nifty remains positioned below critical resistance thresholds. Current technical indicators suggest a sustained bearish trend, characterized by persistent volatility and a lack of upward momentum in the broader indices. Vinay Rajani of HDFC Securities maintains a cautious outlook, identifying key support and resistance zones that are likely to dictate short-term price action. Market participants are advised to adopt a selective approach to trading, prioritizing individual stock technicals over broader market movements. Specific tactical recommendations include a buy position on Oil India, which shows relative strength. Conversely, a short position is recommended for L&T, as the stock faces technical headwinds amidst the prevailing market correction.