Nifty Midday Update: Bounce Plays Out as Flagged, RSI Divergence Confirmed

Nifty is trading at 24,244.30, up 0.12%, bouncing sharply off the rising-window support near 24,010 that we flagged in yesterday's morning note. The positive RSI divergence highlighted then — price making a low while RSI held higher — has now played out, with the index reclaiming the 24,150–24,240 resistance zone. This is a good example of technical analysis acting as a leading indicator: the divergence and support-zone setup pointed to a possible bounce before any fresh news arrived. Overnight, the US Treasury's bond buyback announcement added a fundamental tailwind, but the technical setup had already flagged the turn a day in advance. With 24,240 now reclaimed, the next zone to watch is resistance near 24,320; holding above 24,150 keeps the bounce structure intact, while a slip back below reopens the support test. Stock to watch

testing trendline resistance in sync with Bank Nifty's move and preparing for a breakout. A support zone combined with a bullish RSI divergence often signals a turning point before the news catches up, which is why tracking technical structure alongside fundamentals gives a fuller picture than either approach alone. Disclaimer: For educational purposes only, not investment advice. Please do your own due diligence or consult your advisor before investing.