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Daily Technical View on Nifty

* Nifty extended its gain on the fifth straight session on December 5 with Nifty recording the highest close since Oct 18, 2024.

* The last hour of trade was very volatile. At close, Nifty was up 0.98% or 240.9 points at 24708.4.

* Cash market volumes on the NSE rose 11% over the previous day to touch the highest in 4 months (excluding index rebalancing days).

* Broad market indices rose less than the Nifty although the advance decline ratio remained firm at 1.08:1.

* Trading interest was seen in IT, Food delivery players, and capital market participants/infra providers.

* Nifty rose well for the fifth day in a row and seems to have some more upside in store.

* It could head towards 25010-25400 over the next few days while 24343 could offer support.

* Nifty Smallcap 100, Midcap 100 and Microcap 250 Indices rose for the 10th consecutive session, which shows strong breadth of the market.

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