Nifty’s Rally Faces a Hurdle at 24,400 — Volatility on the Rise

● After successfully breaking out from the Double Bottom pattern, Nifty faced rejection near the 24,400 level, establishing it as the immediate resistance.
● While the index managed to close above 24,000, this level appears fragile and may not offer strong support. As long as Nifty holds above 23,800, the broader market sentiment is expected to remain positive.
● For the next bullish move to materialize, the index must decisively surpass and sustain above 24,400.
● It is also notable that India VIX rose sharply this week, climbing over 10%, indicating heightened anxiety among market participants.
● With ongoing geopolitical tensions, market volatility could remain elevated in the near term.
● Investors and traders are advised to exercise proper risk management when taking new positions to protect against potential large losses.