📊 Nifty 50 – Follow Up View

📊 Nifty 50 – Follow Up View Nifty is trading near 24,740, consolidating after a bounce from the 24,500 support zone. As highlighted in our earlier post, the index respected our key support & resistance levels with high accuracy, reinforcing the importance of tracking these zones. 🔹 Fundamentals Global cues supportive with stable US yields & oil. FIIs turned buyers earlier this week; DIIs steady on dips. India’s GDP & PMI data show resilience. BFSI, Auto & IT earnings continue to support valuations. 🔹 Technicals Trendline support intact at 24,600; below this, weakness likely. Resistance remains at 24,900–25,000, where sellers are active. RSI ~55 – recovering, not yet overbought. Volume action suggests buyers active on dips, but breakout strength is still awaited. 🔹 Derivatives Setup PCR ~0.7–0.8 → Neutral-to-bearish undertone with call writing dominant. Call OI: Heavy at 24,800 & 25,000 (strong ceiling). Put OI: Strong at 24,500 & 24,600 (bulls defending base). Intraday OI shows put writing at 24,600–24,700, but strong calls cap upside. 🔹 Outlook Range-bound with mild bullish bias. Support: 24,600 / 24,500 Resistance: 24,900 / 25,000 Above 25,000 → Upside may extend to 25,200+. Below 24,500 → Risk of drop toward 24,350. ✅ Trading View Buy dips near 24,600–24,620 with SL 24,480. Book profits near 24,880–25,000. Avoid aggressive longs unless Nifty sustains above 25,000 with volume. 📌 Bullish Stocks to Track