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Despite positive global market trends, the Indian stock market traded sideways with significant intraday volatility and ended flat on Thursday. However, there was notable activity in certain sectors and individual stocks due to the ongoing Q1 results season.

On its weekly expiry day, NIFTY traded within a narrow range of 24,100 to 24,450. The index has been consolidating within this range for the past seven days, making these levels critical for anticipating future market direction. From the option data, the 24,400 Call strike holds a noteworthy open interest of approximately 32 lakh shares, while on the Put side, the 24,200 strike holds a sizable OI of about 30 lakh shares.

Overall, the market is demonstrating strong resilience, with investors eagerly buying on price dips. Today's market movements will be influenced by the US inflation data released yesterday.