Nifty is expected to open slightly gap up near the 24,650 level, continuing to consolidate within a defined range. The price action has been forming a tight structure, making directional breakouts crucial for the next move.
On the upside, a long trade can be considered if Nifty sustains above 24,750–24,800, which is the immediate resistance zone. A breakout above this zone could push Nifty toward 24,850, 24,900, and 24,950+ levels intraday.
On the downside, if Nifty fails to hold the 24,750–24,700 level and starts trading below it, a short setup can be activated with potential targets of 24,600, 24,550, and 24,500-. Strong support lies near the 24,500 mark, which will be a critical zone for bulls to defend.
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