Nifty Pre-Open Update: Support Held Near 24,010, Gap-Up Open Likely on Risk-On Cues

Nifty tested our flagged support zone yesterday, dipping to an intraday low of 24,025 (against the 24,010 rising-window support highlighted in yesterday's note) before settling at 24,078. The zone held as expected. Overnight, the US Treasury's bond buyback announcement has kept the risk-on tone alive, with Gift Nifty trading nearly 100 points higher this morning. A gap-up open tracking Gift Nifty looks likely, which would be a continuation of the bounce we flagged yesterday off the support zone. 24,000 continues to be the key rising-window support, now reinforced by strong Put Writing at that strike — a sign that option sellers are backing this level. The RSI divergence noted yesterday (price making a low while RSI held higher) remains visible on the chart, adding some technical support to the bullish case for a bounce. !TITAN is consolidating inside a tightening triangle on the hourly chart, closing at 5,068 (RSI 50.98, neutral). The overnight surge in gold and silver, tied to the same risk-on/weaker-dollar move, adds fundamental weight to a potential breakout. A close above 5,080 opens room toward 5,120–5,160; failure to clear it keeps it range-bound, with support near 5,040–5,060. When a supportive macro backdrop, a held index support level, and a stock-specific pattern breakout all point the same direction, the combined signal carries more weight than any single factor alone. Disclaimer: For educational purposes only, not investment advice. Please do your own due diligence or consult your advisor before investing.