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Daily Technical View on Nifty

 *  After early morning weakness on the back of weak U.S Markets, Nifty recouped all the losses during the day and closed near day’s high.

 *  On the last trading session of year 2024, Nifty closed flat at 23644. For the calendar Year 2024, Nifty is up by 8.8%.

 *  NSE cash market volumes were lower by 21% as compared to average of the December month.

 *  Midcap and Smallcap Indices recovered sharply from the early morning lows and ended in the green.

 *  Nifty Midcap 100 Index gained by 0.02% while Nifty smallcap Index rose 0.69%.

 *  Advancing shares outnumbered the declining shares after nine days where advance decline ratio stood at 1.41 on BSE, highest since 06- Dec.

 *  Positional trend for Nifty remains down as, index is placed below its key moving averages.

 *  Immediate resistance for the Nifty is seen at 23938, while support is placed at 23450.

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