F&O Talk: Avoid bottom fishing until Nifty signals reversal, 23,450-23,250 crucial support: Ruchit Jain of Motilal Oswal

Nifty continues its decline, breaching support levels, with a cautious market outlook. Analysts advise avoiding bottom fishing and waiting for reversal signals. Focus remains on Q3 earnings, Union Budget, and FII activity. FMCG and IT sectors show resilience, while Pharma faces resistance. Key stocks to watch include M&M, Bharti Airtel, and Tata Consumer.