World · India Bureau
Nifty poised to test 24,200-24,300 if it breaches 24,100 level
Market analysts are watching the 24,100 mark as a critical resistance point for India's Nifty 50 index. A successful break above this level could trigger a fresh rally towards higher targets in the near term.
LSN India ·
The Nifty 50 index faces a key technical hurdle at the 24,100 level, with market observers suggesting that a decisive break above this threshold could open the door for further upside momentum. If the index manages to overcome this resistance, analysts project the benchmark could potentially advance towards the 24,200-24,300 range in the coming sessions.
Chandan Taparia, a market technician, has identified the 24,100 mark as a pivotal level for the broader market. The analyst believes that clearing this resistance could confirm a positive technical setup and encourage fresh buying interest among investors positioning for near-term gains.
Among individual equities, Taparia has recommended a selective buying approach for short-term traders. Persistent Systems, Eternal, and Bajaj Auto have been highlighted as potential candidates for near-term gains, suggesting relative strength compared to broader market movements.
The recommendations reflect a cautiously optimistic stance on select largecap and midcap stocks, even as the overall index navigates key technical levels. Traders are advised to monitor the 24,100 resistance closely, as a breakdown below this level could signal a reversal in near-term momentum.