wealthforumtv

Considering all positive factors, if Nifty 50 witnesses follow-through buying and sustains above the 200-day EMA, a rally towards the 24,500-24,600 zone (previous swing highs) cannot be ruled out. A decisive move above this zone could open the door for 24,800-25,000, provided the 24,100-24,000 zone holds as support, according to experts.

The Nifty 50 is expected to advance towards its immediate hurdle at 24,400 (200-day EMA). A decisive move above this level could pave the way for the 24,500-24,600 zone (previous swing highs), provided the 24,100 level continues to hold as support, according to experts.

Although the Nifty 50 may consolidate after the healthy rally, the overall trend remains positive, with the potential for a further upmove towards the 24,400-24,500 zone, the next key hurdle, as long as it holds above the immediate crucial support zone of 24,100-24,000, according to experts.

If Nifty convincingly moves above 24,050, the 24,200-24,300 zone will be the immediate area to watch, followed by 24,400 (the 200-day EMA) as the next key hurdle. On the downside, support is placed in the 23,900-23,800 zone.

As long as the Nifty 50 remains below this level, consolidation with range-bound trading is likely to continue, with immediate support placed at 23,800, followed by the crucial support of 23,600, from where the recent recovery began. However, a sustained move above 24,000 could increase the possibility of an upmove towards the 24,100-24,200 resistance zone.

A decisive break below 23,600 level could trigger a further correction towards 23,500 and the 23,400-23,350 zone in the Nifty 50. However, if the index manages to hold above 23,600, the chances of a rebound towards the 24,000-24,100 zone could improve, according to experts.

If the Nifty 50 decisively breaks below 23,800 support, a decline towards the 23,650-23,600 zone cannot be ruled out. A breach below this zone could expose the index to the 23,500 level, which is expected to act as the next crucial support. On the upside, the 24,000-24,100 zone is likely to remain a key resistance area, according to experts.

If the Nifty 50 sustains below the 24,000 level, a fall towards 23,800 cannot be ruled out. A breach of that level may allow bears to tighten their grip on the market further. However, in the event of a rebound, the 24,100-24,200 zone is likely to act as a hurdle, according to experts.

The 24,100 level is expected to be the immediate support for the Nifty 50, followed by 24,000 as the next key support. On the higher side, the 24,300-24,400 zone is expected to act as resistance, suggesting that the 24,000-24,400 range is likely to remain the immediate trading band for the index, according to experts.

The 24,135 level is likely to act as the immediate support for the index, followed by the psychological 24,000 mark. On the higher side, the 24,350-24,400 zone is expected to remain a crucial resistance area for any further upmove towards 24,500-24,600, the previous swing highs.

The sustainability of Friday's uptrend will be the key factor to watch in the short term. The 24,400–24,500 zone is expected to act as a resistance area for the index. A sustained move above this range could open the door for a rally toward 24,800–25,000. On the downside, the 24,100–24,000 zone is likely to provide strong support, according to experts.

Technically, the momentum indicators continue to signal consolidation, with the 24,000-23,950 zone acting as a strong immediate support for the index. A decisive fall below these levels could push the index into a consolidation phase.

The Nifty 50 needs to be decisively broken on either side of 23,800-24,300 range for a strong directional move. Until then, consolidation is likely to continue within the said range, with 24,000 acting as the immediate support.

The Nifty 50 needs to break out of the 23,800-24,300 range on either side to establish a firm direction going forward. Reclaiming and sustaining above the 24,300 level could increase the possibility of an upmove towards the 24,400-24,500 zone. However, a decisive fall below 23,800 could drag the index into a consolidation phase, according to experts.

Phase of easy gains driven by valuation multiple expansion is largely behind us, and earnings delivery will increasingly determine market returns, said Kuunal Shah of Carnelian Asset Management & Advisors.