What a session. Nifty closed near 24,000 (+3.78%), but the real story - it was a gap-up day followed by tight range trading. After the massive opening, the market didn’t build further. It just held gains and moved sideways. What drove this move: The big trigger was the US–Iran ceasefire, which crushed crude prices and eased inflation fears. Add to that: • India VIX down ~20% • Bond yields cooling • Rupee stabilizing Clear shift to risk-on sentiment. Participation was massive: Breadth: 2960 vs 341 Almost every sector closed strong: • Banks, realty, auto, capital markets led • High beta stocks saw aggressive buying This was broad-based. But here’s the important part: After such a huge gap-up, market didn’t trend higher. It stayed in a tight range. That usually means: • Buying was already priced in at open • Market is now waiting for next trigger Structure now: Nifty is sitting near a new zone. • Resistance shifts higher (25,000 zone) • Immediate support moves up sharply Big gap-up + no follow-through = absorption phase, not breakout. Next move will depend on whether buyers step in again… or sellers use this strength.

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