📊 Nifty 50 – Short Term View

Nifty is trading near 24,980 with positive bias, holding above the rising channel support. Price action shows consolidation just below the 25,100–25,200 supply zone, which is the key hurdle. Support Levels: 🔹 24,940–24,920 (immediate) 🔹 24,850 & 24,800 (stronger base) Resistance Levels: 🔹 25,100–25,200 (major supply zone) 🔹 Above this, momentum can stretch toward 25,350–25,400 Derivatives Setup: 🔹 OI data shows heavy Put writing at 24,900 & 25,000, giving strong downside protection. 🔹 Call buildup visible at 25,200 & 25,500, acting as resistance. 🔹 PCR ~1.0 → Neutral-to-positive bias. Indicators: 🔹 RSI ~66 → bullish momentum, not overbought yet. 🔹 Rising volumes confirm accumulation on dips. 📌 Outlook: Nifty bias remains positive in short term as long as it holds 24,850–24,900 support zone. A sustained close above 25,200 will open the next leg toward 25,350–25,400. 👉 In short: Bullish above 25,200 → Targets 25,350–25,400 Support: 24,850–24,900 crucial for trend continuation Bullish stocks to follow"