Yesterday, NIFTY opened on a negative note and slipped below the 24,000 mark in early trade. It found support near the 23,900 level in the afternoon session and recovered from lower levels, eventually closing above 24,000.
NIFTY continues to consolidate within a narrow range of 24,400–23,800, and a breakout on either side is likely to determine the next directional move. Until then, the index is expected to remain range-bound.
Existing long positions can be maintained with a protective stop-loss below 23,800. Fresh long positions should be considered only on a decisive breakout above 24,400.
| Open | 24052 |
| High | 24081 |
| Low | 23882 |
| Close | 24032 |
| S 1 | 23916 |
| S 2 | 23799 |
| R 1 | 24115 |
| R 2 | 24198 |
| Action | SL | TGT |
|---|---|---|
| Buy above 24125 | 23074 | 24275 |
| Sell below 23875 | 23951 | 23725 |