NIFTY 50 | Short-Term View (~24,585)

Nifty 50 closed the session near 24,585, gaining ~0.9% led by strong moves in SBI and Tata Motors after upbeat Q1 results. The index is trading close to a key resistance zone, and sentiment remains cautious due to U.S. tariff concerns and subdued earnings from banks & IT. Analysts suggest that a decisive move above 24,600–24,800 could trigger a strong upside, while a slip below 24,400 may invite selling pressure Technical View: Immediate resistance: 24,600–24,650 (heavy Call OI build-up) Next bullish target: 24,800–25,000 on breakout Support zones: 24,480–24,500, followed by 24,200–24,300 PCR near 1.0 indicates balanced sentiment; option data points to range-bound bias unless a breakout occurs Key Market Drivers: Gains in heavyweight stocks (SBI, Tata Motors) supporting index U.S. tariff headwinds limiting aggressive buying Weak corporate earnings from banking & IT dragging broader sentiment Analysts’ Views: Anand James (Geojit) – Short covering likely if Nifty sustains above 24,433 ET Poll – Weakness may persist unless index decisively clears 24,600–24,800; support strong near 24,000 Short-Term Outlook: Bullish bias if index closes above 24,600; next leg toward 24,800–25,000 possible Sideways to weak if stuck between 24,400–24,600 Bearish tilt if breaks below 24,400, with potential fall toward 24,200–24,300 Summary: Nifty is at a make-or-break zone — holding above 24,600 could fuel further gains, while failing to do so may see the index consolidating or correcting in the short term Bullish stock to follow: