Nifty Pre-Open: 24,000 Is the Line in the Sand

The bear case played out — Nifty broke below 24,080 and bears pulled the index toward the 24,010 rising-window support, before a late recovery clawed it back to settle at 24,080. RSI at 42.53 reflects the oversold bounce attempt, though the broader structure remains under pressure from last week's channel breakdown. Resistance: 24,092–24,100 immediate, then the 24,141–24,201 zone (former support turned supply), 24,230 and 24,360. Support: 24,051–24,080 session zone, 24,014 rising window as the critical floor, then 23,930. A sustained move above 24,100, especially a 30-min close above 24,141–24,201, would suggest the bounce has legs, turning the bias constructive above 24,230. A sustained break and 30-min close below 24,000 would confirm a deeper breakdown, opening 23,930 and eventually 23,645.

has reached the rounding-base objective highlighted in our earlier views, validating that setup.(Chart Attached) When a stock reaches a projected measured-move objective, it validates the original pattern read — a useful checkpoint before deciding whether to reassess or stay put. Disclaimer: This is for educational purposes only and is not investment advice. Please consult your financial advisor before making any investment decisions. SEBI Registered Research Analyst — INH000025212.