The trends on Gift Nifty indicate a mildly positive start for the Indian benchmark index. The Gift Nifty was trading around 23,715 level, a premium of nearly 25 points from the Nifty futures’ previous close.

The stock market went into the red upon opening as trading began on Friday, February 7, the day the new Reserve Bank of India (RBI) governor Sanjay Malhotra is set to announce the interest rate decision of the Monetary Policy Committee (MPC).

As long as the Nifty 50 stays above 23,600, the upward journey toward the 23,800-24,000 zone is likely. However, below 23,600, consolidation may be seen, with support at 23,400, experts said.