Markets witnessed a volatile trading session on Thursday with both benchmark indices opening sharply higher amid positive sentiment. However, the inability to sustain at elevated levels resulted in persistent profit booking throughout the day, dragging the indices lower from their opening highs. Going forward, analysts say sustained movement above immediate resistance zones will remain crucial for confirming stronger recovery momentum, while support zones continue to hold importance for maintaining near-term stability in the market.STATE OF THE MARKETSTech View: The overall sentiment continues to remain weak, with the possibility of further downside in the short term. On the lower end, 23,400 is likely to act as a crucial support level; a decisive breach below this mark may trigger panic selling in the market. Conversely, the index needs to move decisively above 23,800 to witness a directional rally and improve the near-term sentiment.India VIX: India VIX, which is a measure of the fear in the markets, fell 3% to settle at 17.82 levels.Stocks in F&O ban todaySAILKaynesSecurities in the ban period under the F&O segment include companies in which the security has crossed 95% of the market-wide position limit.FII/DII actionForeign portfolio investors net sold shares worth Rs 1,891 crore on Thursday. DIIs, meanwhile, were net buyers at Rs 2,492 crore.RupeeThe rupee rebounded 50 paise from its all-time closing low to settle at 96.36 against the US dollar on Thursday after crude oil prices retreated from elevated levels amid signs of easing geopolitical friction, alongside likely central bank intervention.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)