Nifty is expected to witness a slightly gap-up opening near the 24,700 level, which will be crucial to watch as it aligns with an immediate resistance zone. Sustaining above 24,750–24,800 may trigger upward momentum, pushing the index toward 24,850, 24,900, and 24,950+. A breakout above these levels will strengthen the bullish sentiment and may open the way for higher levels.
On the downside, if Nifty fails to hold above 24,700 and slips below 24,650–24,600, it could invite selling pressure. In such a case, the index may drift lower toward 24,550 and further to 24,500-. A deeper breakdown below 24,500 can extend the weakness and confirm continuation of the broader downtrend.
Overall, Nifty remains in a cautious zone, and the movement around 24,700 will decide whether the day favors a recovery bounce or continuation of weakness. Traders should stay alert around these levels with strict stop-losses.
On the downside, if Nifty fails to hold above 24,700 and slips below 24,650–24,600, it could invite selling pressure. In such a case, the index may drift lower toward 24,550 and further to 24,500-. A deeper breakdown below 24,500 can extend the weakness and confirm continuation of the broader downtrend.
Overall, Nifty remains in a cautious zone, and the movement around 24,700 will decide whether the day favors a recovery bounce or continuation of weakness. Traders should stay alert around these levels with strict stop-losses.
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