📊 Nifty 50 – Short Term View

Nifty is trading near 24,740, showing consolidation after a bounce from the 24,500 support zone. The index is forming higher lows on the hourly chart, keeping a near-term positive bias, but strong overhead resistance may restrict momentum unless a breakout happens. 🔹 Fundamentals Global cues remain supportive with stable US yields & oil. Domestic flows steady – FIIs showed buying earlier in the week, DIIs supporting dips. India’s GDP growth and PMI data continue to highlight resilience. Earnings momentum strong in BFSI, Auto, and IT, supporting valuations. 🔹 Technicals Trendline support at 24,600 is intact; below this, weakness may resume. Resistance visible at 24,900–25,000 zone where sellers are active. RSI near 55 – recovering from oversold, yet not in overbought territory. Volumes on recovery candles indicate buying interest, but breakout strength is awaited. 🔹 Derivatives Setup PCR ~0.7–0.8 → More call writing than puts, neutral-to-bearish bias. Call OI heavy at 24,800 & 25,000, creating a resistance ceiling. Put OI strong at 24,500 & 24,600, showing bulls defending support. Intraday OI change shows fresh put writing around 24,600–24,700, but equally strong call writing caps upside. 🔹 Outlook Range-bound with mild bullish tilt. Support: 24,600 / 24,500 Resistance: 24,900 / 25,000 Above 25,000 → Momentum may expand towards 25,200+. Breakdown below 24,500 → Downside risk to 24,350. ✅ Trading View Buy on 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 follow: